Five questions on retaliation risk
The interconnected issues of whistleblowers and retaliation lawsuits are experiencing a resurgence among businesses today, pushed along by new regulatory frameworks like those found in the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Too often, companies don’t realize their exposure to retaliation risks until it’s too late. How can leaders help guard their organizations from such risks? How can they foster a culture that empowers employees to actively engage with the issues of ethics and compliance? Risk Intelligent organizations are already taking a proactive approach to these challenges; designing and deploying programs that seek to encourage a speak-up culture — one that promotes internal reporting and resolution before problems spiral out of control.
In this issue of Risk Angles, Robert Biskup, director, Deloitte Forensic, Deloitte Financial Advisory Services LLP, offers some thoughts on questions executives ask him most frequently about this issue. Then, Brian Huchro, partner, Deloitte Forensic, Deloitte Financial Advisory Services LLP, takes a closer look at the role of culture in managing retaliation risks.
This Risk Angle answers the following questions
- Why is retaliation risk an issue on the rise again?
- What tools should we have in place to help guard against retaliation risk?
- We already have tools and processes for escalating concerns about ethics. What more do we really need?
- What are the major pitfalls we should avoid?
- How can we determine whether what we're doing is actually working?
It also takes a closer look at the role of culture in managing retaliation risks in a Dodd-Frank world