Leading with trust through uncertainty: employees to investors
Global insurtech company, Movinx, has launched its whistleblower reporting system: ‘Speak Out’. The company described its commitment to fostering a culture of trust among stakeholders as a key driver behind the initiative.
According to the EU 2019/1937 Whistleblower Directive, only companies with more than 50 employees are compelled to establish a whistleblowing reporting system. To date, the Directive is yet to be transposed into law in Germany, where Movinx is headquartered, making Movinx’s push to rollout the reporting system entirely voluntary.
“The aim of ‘Speak Out’ is to make it abundantly clear to anyone doing business with us that we take governance matters and compliance extremely seriously, and we’re open to listening if there’s anything we are doing that might not be up to par,” said Andreas Roth, Chief Financial Officer at Movinx.
The platform will be available online on the company’s website as a last resort to anyone who cannot resolve issues or concerns directly with Movinx, and may wish to start a case. The platform will enable current or former employees, industry partners, shareholders or community members to remain anonymous, through the platform’s encryption capabilities and ‘secure inbox’ function.
“There’s a lot of uncertainty in today’s market, not only for employees but also investors. A culture of trust and transparency signals that you’re adhering to applicable laws and regulations, and that you’re willing to follow-up on any potential areas of concern. These conversations form a key part of innovation; all companies, no matter their size, should be open and willing to hear what people have to say about them – and most importantly – to learn and grow from this,” said Mr. Roth.
The EU Whistleblower Directive was brought into force in December 2019 as a way to detect and prevent misconduct, while protecting and encouraging whistleblowers to come forward.