Better benchmarks mean more confidence, less risk, higher return on your investment, and more compliance success.
CHARLOTTE, NC, UNITED STATES, May 5, 2021 /EINPresswire.com/ — ComplianceLine, a rapidly growing premier provider of ethics and compliance solutions, has unveiled its 2021 Ethics and Compliance Hotline Benchmark Report offering insights and analysis of compliance and ethics reporting trends from 2020. With thousands upon thousands of reports from over 1100 organizations, ComplianceLine’s Benchmark shows just how a well-oiled compliance program can handle a year beset by crisis after crisis: a worldwide pandemic, social unrest, US presidential election drama, etc.
The Benchmark reveals an increase in the average reporting rate of 4.1 reports per 100 employees which is up from 4.0 from 2019. The impact of COVID-19 and social challenges is perceived to be the source of the increase. Given that having more reports is a symptom of a healthy compliance program, organizations should compare their own reporting rates to this metric to see how well they perform.
“Don’t accept it if someone tells you it is alright if your reporting rate fell due to the crises of 2020. The reports were out there,” says Nick Gallo, co-CEO and Chief Servant of ComplianceLine, “Harassment and bigotry don’t stop because a pandemic is going on. This misconduct that infects our workplaces continued in new ways. Our numbers show that our client’s strong cultures allowed them to weather the storms of 2020 and come out stronger on the other end.”
Many more details can be found in the Benchmark Report including data analysis broken down per industry sector and industry size. Other interesting takeaways include:
-Hotline remains the dominant reporting avenue comprising 70% of intake due to the reduction in in-office/in-person reporting.
-A 3.6% decrease in the number of anonymous reports taken in 2020 compared to the previous year.
-A large 7% jump in unsubstantiated cases up to 42.49% whereas it was 35.35% in 2019.
-And the exponential rise in workplace retaliation was found to mirror the yearly rise of millennials and GenZ’ers in the workforce.
The 2021 Ethics and Compliance Hotline Benchmark Report is now available for download.