Reporting a compliance infraction might sound easy until you’re the one who needs to make the call. Today, Tom and Keturah Pestel share an insightful conversation on the value of proactive internal reporting. Keturah is the Code of Conduct Program Manager for Thrivent’s Business Ethics Office. She is also participating Converge18 as one of the Breakout Speakers.
- Before diving into today’s episode, Tom relays a message from Convercent – who is this week’s sponsor – about their compliance conference located in Broomfield, Colorado called Converge 18. Even better, listeners of Innovation in Compliance will receive a 50% discount on their Converge 18 registration fee by using the discount code “TOMFOXVIP”.
- In the past few years, there has been a shift in US corporate culture. One example is the #MeToo movement, along with other generational aspects. No doubt you have witnessed the upheaval and culture-changing revelations around this, and the companies and leaders that have been called out for their actions.
- Based on this culture shift, Keturah thinks that individuals are now more inclined to voice their concerns, especially through social media outlets that have the potential to go viral. These people who share expect the organizations to take appropriate action to address and resolve the situation.
- Keturah dives deep into how Thrivent has moved beyond the table stakes to acknowledge this need. They have created several channels to provide an internal and external means to report, not only for compliance issues, but also for questions and concerns.
- They have shifted the language from heavy policy to a more approachable tone. This thoughtful compliance approach led to an increase in engagement and reporting quality, something that is vital for companies in today’s technological world. This acknowledgment of how different people would need different channels has had a tremendously positive effect on the company.
- What is the true value of hotline and reporting in promoting corporate compliance? Keturah shares the importance of giving employees a “no harm, no foul” environment to encourage communication. She talks about how recognizing the reporter’s courage to speak up about an issue helps maintain the individual relationship and allows the communication channels to remain open and free-flowing.
Make plans to attend Converge18 and listen as Keturah goes deeper into what you’ve heard in this episode. The conference also has a fantastic agenda for Ethics and Compliance leaders, Legal professionals, human resource leaders, and C-Level leaders. There’s 18 breakout sessions, 12 roundtables, 5 general sessions, 2 keynotes, and an inspirational speaker.
Make sure to use the code, TOMFOXVIP, to get a great discount on this year’s Converge18!