11 min.
NAVEX's 2024 Whistleblower Report -- More Reports, Higher Substantiation Rates Corruption Crime & Compliance
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NAVEX continues to produce high-quality compliance reports, many of which are a must-read in the compliance industry. Its annual Whistleblower Report is of particular note -- NAVEX is the leading provider of hotline services in the world, and its data is invaluable as a source of trends in this industry. This year --2024 -- is no exception. NAVEX combed through the data from 3784 organizations for 2023. Its headline conclusion -- 2023 was a busy year, with a record level of use and the substantiation rate reaching an eleven-year high. More reports came in, and more were found to be true.
Listen in as Michael discusses the findings of these reports and why the increase is a good sign, not a bad sign. It means that employees trust their respective hotline reporting systems to produce results.
NAVX's 2024 Whistleblower Report revealed a record level of use and an 11-year high substantiation rate, indicating increased trust in employee reporting systems.Accounting-related reports, comprising approximately 4.3% of all reports in 2023, had a significant impact. With a median substantiation rate of 50%, these reports often led to employment separation events, underscoring the seriousness of the issues raised.Third-party reports were more likely to focus on business integrity and financial misconduct issues, accounting for 50% of reports compared to employees' 17%.Reports of imminent threats had a high substantiation rate in 2023, with nearly 9 out of 10 reports proven to be substantiated, highlighting the seriousness of such issues.Workplace civility complaints increased to 18% of reported cases, reflecting a growing concern within organizations about maintaining a respectful work environment and culture.HR issues, a significant portion of all reports in 2023, accounted for 55% of the total. This underscores the importance of addressing internal workplace issues, such as workplace discord, discrimination, harassment, and retaliation, to maintain a healthy and productive work environment.Clear Channel's extensive cooperation with the investigation, prompt sharing of facts, document production, and employee interviews demonstrated a commitment to transparency and accountability in addressing compliance issues.
Resources
Michael Volkov on LinkedIn | Twitter
The Volkov Law Group
NAVEX continues to produce high-quality compliance reports, many of which are a must-read in the compliance industry. Its annual Whistleblower Report is of particular note -- NAVEX is the leading provider of hotline services in the world, and its data is invaluable as a source of trends in this industry. This year --2024 -- is no exception. NAVEX combed through the data from 3784 organizations for 2023. Its headline conclusion -- 2023 was a busy year, with a record level of use and the substantiation rate reaching an eleven-year high. More reports came in, and more were found to be true.
Listen in as Michael discusses the findings of these reports and why the increase is a good sign, not a bad sign. It means that employees trust their respective hotline reporting systems to produce results.
NAVX's 2024 Whistleblower Report revealed a record level of use and an 11-year high substantiation rate, indicating increased trust in employee reporting systems.Accounting-related reports, comprising approximately 4.3% of all reports in 2023, had a significant impact. With a median substantiation rate of 50%, these reports often led to employment separation events, underscoring the seriousness of the issues raised.Third-party reports were more likely to focus on business integrity and financial misconduct issues, accounting for 50% of reports compared to employees' 17%.Reports of imminent threats had a high substantiation rate in 2023, with nearly 9 out of 10 reports proven to be substantiated, highlighting the seriousness of such issues.Workplace civility complaints increased to 18% of reported cases, reflecting a growing concern within organizations about maintaining a respectful work environment and culture.HR issues, a significant portion of all reports in 2023, accounted for 55% of the total. This underscores the importance of addressing internal workplace issues, such as workplace discord, discrimination, harassment, and retaliation, to maintain a healthy and productive work environment.Clear Channel's extensive cooperation with the investigation, prompt sharing of facts, document production, and employee interviews demonstrated a commitment to transparency and accountability in addressing compliance issues.
Resources
Michael Volkov on LinkedIn | Twitter
The Volkov Law Group
11 min.