Company analyzed 27,000 anonymous hotline reports across virtually all industries and geographies
Deerfield, IL, January 24, 2022 – Syntrio, a global leader in governance, risk, compliance, and human resource solutions that enable 6,000 organizations to make the workplace a better place released its annual State of Employee Hotlines and Experience Platforms research report.
Syntrio research finds the rise of the global pandemic and megatrends such as leveraging contingent and part-time workers in the gig economy, embracing the ascent of the millennial generation and the accelerating speed of digital commerce have presented serious challenges to organizations focused on building their cultures and becoming employers of choice.
“Our anonymous employee hotline research indicates we are at yet another turning point,” said Edward Vesely, Chief Marketing Officer, Syntrio. “How do we build strong and sustainable cultures that consistently drive the innovation, customer service and overall performance we need to compete today? Management wants better employee engagement and performance, despite the increase in hybrid and virtual work environments. They need solid information about the vitality of their workforces and new ways to attract and retain top talent to achieve successful financial outcomes.”
To produce this report, Syntrio analyzed 27,000 anonymous hotline reports from nearly 6,000 organizations in key industries such as healthcare, not-for-profit, financial services, technology and manufacturing. Seventy-one percent of organizations have more than 100 employees and 29% have more than 500.
Industry-wide, the volume and financial severity of legal settlements continue to trend upward, ranging from fraud to cybersecurity, discrimination and employee safety. According to the U.S. Securities and Exchange Commission’s Annual Report to Congress, there has been a 33% increase in whistleblower tips coming into the government. That said, organizations with anonymous hotlines detect fraud more quickly than those without hotlines, and median losses due to fraud were nearly double at organizations without hotlines.
Highlights from the 2022 edition of this benchmark report include:
- Hotlines are used by companies with a wide range of demographics, across virtually all regions, industries and company sizes from small to large enterprises and government services.
- Hotlines improve the upside and protect the downside by increasing employee engagement and business performance and protecting against the growing trend toward larger legal suits and settlements.
- Hotlines securely capture and retain data and information, adhering to best practices for ethics investigation procedures, and providing closed-loop report handling to ensure important details are not overlooked and audit trails are maintained.
- Employee Experience Platforms have emerged as the new generation, providing complete visibility into workforces and issues affecting organizations, and leading to more sustainable and continuous performance.
Syntrio is a global leader in governance, risk, compliance and human resource solutions that help 6,000 organizations make the workplace a better place – one organization, one culture, one person at a time. Easy, affordable and innovative Syntrio solutions include a robust employee experience platform and reporting hotline and more than 1,000 elearning courses in Employment Law, Ethics and Compliance, Diversity and Inclusion, Health and Safety, Business Skills and Cybersecurity. For more information visit syntrio.com.