July cover story- Break the Silence
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July cover story- Break the Silence

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As whistle-blowing has proven to be the most effective way to prevent fraud, companies especially those in India need to develop strong robust systems that would encourage employees to speak up

As whistle-blowing has proven to be the most effective way to prevent fraud, companies especially those in India need to develop strong robust systems that would encourage employees to speak up

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July cover story- Break the Silence Presentation Transcript

  • 1. www.peoplematters.in
  • 2. Break the Silence As whistle-blowing has proven to be the most effective way to prevent fraud, companies especially those in India need to develop strong robust systems that would encourage employees to speak up By Deepshikha Thakur
  • 3. According to a 2012 KPMG Fraud Survey, 71 per cent of the respondents believe that fraud is an inevitable cost of doing business here. India was ranked 94 out of 174 countries in the Transparency Index, which ranks companies on the perception of corruption. It is ranked 132 among 185 economies ranked for the ease of doing business, where a high ranking on the ease of doing business means the regulatory environment is more conducive to the starting and operation of a local firm.
  • 4. The 2011 National Business Ethics Survey revealed that though 45 per cent of employees observe misconduct every year, more than one in five (22 per cent) employees who report it fear retaliation.
  • 5. In an event where employees are afraid to speak up, how does one create an ethical organisation?
  • 6. “The foundation stones for building an ethical organisation are undoubtedly its people, especially its senior leaders that the entire organisation looks up to. These people shape of the culture of the company and ethics is a function of culture and the culture itself. At the end of the day, it is about the people - the type of people you attract and recruit, the type of people you promote and the ones who lead the businesses.” Anand Mahindra, CMD, Mahindra & Mahindra
  • 7. “It is all very well to say that anyone can lodge a complaint against anyone who engages in misconduct etc, however that is not practical. We need to have a law, a framework which defines the reporting mechanisms and ensures zero retaliation for people who speak up. And we need to start with the politics and bureaucracy before having it for the corporates. Norms must be set in the political and bureaucratic domains to begin with.” Dr. Rajiv Kumar, Senior Fellow, Centre for Policy Research and Former Secretary General, FICCI
  • 8. “To create a transparent, ethical organisation, where people can question when in doubt, you need to have robust systems in place and the leadership needs to consciously build that faith in organisational behaviour. Both culture and policies complement each other and one may fail without the other.” L. Gurunathan, Professor of HRM and IR, XLRI, Jamshedpur
  • 9. “Organisations generally find it very difficult to discern if the whistleblower is reporting the truth; is he driven by an ulterior motive or making a genuine complaint? This in turn may lead to inaction. Therefore a person’s credibility and how neutral they are in their affiliations in the organisation plays a critical role in defining the effectiveness of a person as a whistle-blower.” Abhijeet Vadera, Assistant Professor, Indian School of Business
  • 10. “Once you accept that we as humans do err then your ability to manage yourself in difficult circumstances and to ward off temptation is much better.” K. Ramkumar, ED (HR, Customer Service & Operations), ICICI Bank
  • 11. “If companies don’t give ‘a second chance’ to wrong-doers, they would prevent them from wrongful conduct a second, possibly a third time.” V. Raghunathan, Academic, Popular Author and Columnist
  • 12. “Companies must also build the skill sets required to help people recognise what they are doing and ensure culture penetration in all aspects of the business.” Ed Cohen is Executive Vice President, Nelson Cohen Global Consulting. An expert in leadership and change management, Ed was with Satyam Computers (now Mahindra Satyam) as Sr. VP-, Talent Management and Learning
  • 13. “Ethics is above the law. The notion that what is legally permissible is ethically correct is wrong.” Sankar Ramamurthy, Executive Director, PwC
  • 14. To read the complete story click here “Break the Silence”
  • 15. For Further Information Kindly Contact +91 (124) 4148102 info@peoplematters.in www.peoplematters.in Connect with us on Subscribe Now! July 2013 www.peoplematters.in