Contemporary companies face the challenge of maintaining high ethical and compliance overall standards. In this era of transparency and accountability, the establishment of a mandatory whistleblower channel has become a necessity for many organizations, especially those with a large workforce or subject to specific regulations.
What is a whistleblower channel?
This is a means through which employees, collaborators, and in some cases, third parties, can report confidentially and, if they wish, anonymously, any irregularity, misconduct or violation of the rules in the workplace. Also the essence of these channels is to ensure whistleblower protection. Simultaneously often referred to as ‘whistleblower protection’ and ensure that concerns are heard and addressed appropriately.
Who needs to implement a whistleblower channel?
It should be clarified that there is no specific sanction for not having implemented the whistleblower channel. However, companies with 50 or more workers are legally required to have this mechanism in place. In addition, it is necessary for those organizations covered by certain regulations. Thereupon failure to comply with this regulation may be considered a violation of the law, which could result in penalties.
Objectives of the mandatory whistleblower channel
The main purpose is to enable explicitly the identification and resolution of irregularities or infractions in the organizations. It also guarantees the protection of informants, preserving their identity and facilitating the receipt and processing of anonymous complaints.
Companies need to be aware that having an internal information system is not only a legal obligation in many cases, but also a good corporate social responsibility practice.
How can we help you?
From Trusty we invite you to implement our free complaint channel to comply accordingly with the regulations.
Finally, remember that failure to comply with the relevant regulations could result in heavy fines.
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