A Future-Fit Business takes steps to minimize employee concerns, and implements processes and policies to identify and deal fairly with any issues that do arise.
What this goal means
Companies depend on the commitment and motivation of their employees, so it is good business sense to engage them as much as possible. The intent of this goal is to set a minimum threshold of acceptable performance in this regard, which means ensuring that the company does nothing to undermine its employees’ wellbeing.
No company can be completely free of employee concerns, but it must take all steps possible to minimize concerns, and to deal effectively and appropriately with any concerns that arise.
To be Future-Fit, a company must put in place appropriate mechanisms to identify and manage employee concerns, so that potentially serious issues and legitimate grievances do not go un addressed.
Why this goal is needed...
Despite legal protections in many developed countries, whistleblowers still often experience negative outcomes and are deterred from speaking out.
A five-year study by Public Concern at Work found that more than 80% of employees that had raised concerns over workplace practices were dismissed, victimised or resigned.
Effective concerns mechanisms help to uncover illegal activity.
In 2016, occupational fraud caused $6.3bn of company losses worldwide, with an average loss of $2.7 million per case. Companies with a dedicated reporting hotline in place were first alerted to instances of fraud by employees in 47% of cases, but only 28% of cases were reported by employees in companies with no such hotline.
Employee concerns are actively solicited, impartially judged and transparently addressed
Release 2, initial publication.