Looking at 2023, the year is set to continue to bring macro-economic uncertainty and geopolitical risk. These are likely to impactevery sector in the business world. This will be no different for the customer experience (CX) sector. With this, business leadersneed to be prepared for the challenges and learn how to navigate the current levels of uncertainty. Using data-led risk and compliance (R&C) policies, business leaders can separate risk signal from risk noise. This will ensure solid CX results are maintained.
Whistle-blowers in the workplace are continuing to shed light on these workplace risks. In a time when “the only constant is change”, whistle-blowing is at the forefront of helping businesses to navigate this challenging time.
Crucially, whistle-blowing in the workplace involves reporting certain wrongdoings at work. It’s becoming an ever-known practice, with regulations progressing across the globe. Most notably, the EU Whistle-blowing Directive coming into force across Europe and countries transposing these laws at pace. It’s of paramount importance that in 2023, workplace whistle-blowing is taken as seriously as ever.
Growing awareness through regulations
While the Directive doesn’t directly apply to the UK, due to Brexit, it is still relevant for business leaders to have knowledge on it. This is especially true if the business operates in Europe alongside the UK. In those cases, the business will still need to comply with the Directive.
Additionally, as whistle-blowing legislation continues to be developed in the UK, this is expected to be aligned with the Directive to ensure the continuation of vital trade. Even with the growing awareness of whistle-blowing, with all the new regulations coming into force, it can be difficult for businesses to maintain compliance. This is where R&C policies can help.
Having a strong R&C policy is vital for businesses trying to navigate their CX in this challenging time. R&C policies include building a solid whistle-blowing strategy, such as implementing a hotline and developing a positive speak up culture in an organisation. It’s vital for business leaders to encourage ‘speak-up cultures’. This will help prevent workplace misconduct, properly manage incidents, empower employees in the workplace and maintain high levels of CX. With the proper whistle-blowing tools in place, business leaders can rest assured that they are remaining compliant when faced with ongoing uncertainty.
With the constant changes to global circumstances, and their expected continuation in 2023, it’s predicted that the types of whistle-blowing will also change. This will include changes to both internal and external whistle-blowing reporting. Business leaders will need to be prepared for the changing types of reporting and to adapt their R&C policies appropriately.
Changes in whistle-blowing reporting
In the coming year, external whistle-blower reporting is expected to grow with employees predicted to turn to external reporting bodies to report workplace misconduct. Subsequently, internal reporting is expected to decrease. Internally, we could also see changes to whistle-blowing reporting that include higher levels of anonymous reporting, with employees fearing retaliation. This is where building a positive speak-up culture as part of your R&C policies becomes particularly critical.
By encouraging a positive speak-up culture, employees should no longer fear retaliation when speaking about workplace misconduct, further encouraging them to share internally as a first course of action. Critically, this gives the business an opportunity to address the issue being reported helping strengthen the business and its CX.
Changes amongst change-enacting procedures
Alongside the changes to external and internal reporting, the type of whistle-blowing is also set to change in 2023. Financial whistle-blowing is expected to increase in the coming year. With looming recessions, fraudulent cases are expected to increase as businesses struggle to map out the ongoing economic turmoil. This is not necessarily a new trend, with the Financial Conduct Authority (FCA) launching its ‘in confidence, with confidence’ whistle-blowing campaign in the UK this year. Consequently, reporting to external bodies like the FCA is expected to continue to grow.
With a growth in external reporting, this could soon accelerate to become the first port of call for whistle-blowers. To ensure employees continue to report whistle-blowing internally, deploying effective incident reporting solutions and a strong R&C policy will encourage people to speak up within the business. By taking these issues seriously, employees will see it as an invaluable option for reporting workplace misconduct.
Deploying an effective whistle-blowing solution as part of your R&C policy means businesses can be prepared to mitigate workplace risks. Notably, HR can turn this challenging time into one that accelerates business success. Aggregating employee reports and using feedback can gain key data insights into the company’s cultural health. This will, in turn, help business leaders make informed strategic decisions.
Preparing for uncertain times
There’s only so much that businesses can do to prepare for the challenges and uncertainty expected in 2023. By deploying R&C policies and whistle-blowing strategies, this means that businesses will be in a solid, well-prepared place to act on the risks associated with this time. And this is whilst continuing to ensure good CX is a priority. By deploying solutions now, business leaders can future-proof against ongoing risks.