As a small business, any unchecked risks, ethics, operational, or otherwise, can significantly impact your success. For example, one sexual harassment lawsuit could lead to you closing your doors. And when the stakes are this high, you need all the tools and resources you can get to protect what you’ve worked so hard to build.
Ethics hotlines are vastly becoming the primary line of defense among small and medium-sized businesses. Because these systems exist, anyone interacting with your business can safely, anonymously, and effectively call your attention to wrongdoing. And when you have the information that you need to spot red flags and follow through with investigations, you can mitigate any risks that might be lurking at your company’s door. Keep reading to explore all the other reasons a small business like yours needs an ethics hotline.
Identify Fraud & Theft Quickly
As the leader of your small business, you find yourself wearing many hats, often contributing to multiple facets of operations. But you can’t see everything that goes on in your company, especially if you have online interactions. And it’s not uncommon for fraud and theft to creep in without your knowledge. However, when you have an ethics hotline, you’re essentially deputizing anyone involved in your operations to call out suspicious behavior. And you’re adding all those “eyes” to every layer of your business model to ensure any wrong steps are identified immediately.
Root Out Discrimination & Harassment
It only takes one bad apple to tank your business. One bully in the office or on the job site can create a toxic environment. And even remote employees who communicate online can become victims of sexual harassment or discrimination. Root out all of the unsavory behavior quickly with an ethics hotline your teams feel comfortable using anonymously. And you can use the data and metrics to spot any trending behaviors that might call for more serious mitigation steps.
Establish a Positive Company Culture
Make sure you retain your best employees and position your company in a way that is attractive for hiring top talent when you take a zero-tolerance stance on ethics violations in the workplace. And when you provide the ethics hotline to back your policies, it demonstrates that you take company culture and positive work environments seriously. Your brand reputation will improve. Your teams will feel secure in their roles. And you’ll stay one step ahead of any ethics violations that might jeopardize a positive work culture.
When you’re able to stay ahead of catastrophic risks, you’ll be able to grow and scale your small business more quickly. And with one tool, you can effectively facilitate a series of procedures to ensure you remain proactive about ethics in your company. When you’re ready to develop an ethics hotline platform and process for your business, let the professionals at Ethical Advocate help! We can assist you in identifying the potential risks that could be plaguing your small business and help you create the best-fit solution for your business model