Business Development Manager, Safecall
Employees within the banking and finance sector are increasingly likely to use whistleblowing channels to report concerns about discrimination and harassment.
With such a growing trend, employers should ensure that HR teams and managers are trained in whistleblowing and are able to respond appropriately when a matter is raised.
A study produced in 2020 by Protect, the whistleblowers’ charity, revealed a shockingly high prevalence of victimisation among those reporting wrongdoing. Some 35% of whistleblowers reported they were victimised by management or co-workers.
The research also showed that when the victimisation was reported to the employer, more than half (58%) took no action and almost a quarter rejected the complaint.
There is the well-publicised incident featuring a Sydney-based female banker at UBS who was allegedly frozen out of meetings after complaining about bullying and abusive behaviour. This situation was compounded when she was reprimanded after she sought help from the Swiss bank’s HR department.
A study, conducted and published by Culture Shift in October 2021, revealed 35% of those working in the financial industry have experienced bullying, harassment or discrimination in the workplace. A further 38% said a problematic workplace culture had detrimentally impacted their mental health impacting on productivity and time off work.
These are disappointing findings. The figures from Protect suggest a failure by some...
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