As a leader, what would you do if you became aware of a whistleblower within your organisation? Before you answer, it may be worth taking a look at the case of Barclay’s Group Chief Executive James Stanley and a fine of £642,430 levied by the FCA and PRA. In their press release, the authorities commented that Mr Stanley “failed to act with due skill, care and diligence in the way he acted in response to an anonymous letter received by Barclays in June 2016.”
No-one likes the thought of whistleblowing in an organisation, particularly as it could imply that the leadership and the business isn’t as open to feedback and discussion as it might be. But even in the best run organisations, there may be times when an individual may feel that they have no option other than to pursue the whistleblowing route.
When this happens it can stir up a mix of emotions and in the immediacy of the moment it can be all too easy to say or do something which is counter to whistleblowing best practice*. That is why it is so important to have a whistleblowing policy in place. With processes already set down, there is a greater chance that the business will manage the complaint fairly and legally.