Most employees would report wrongdoing in the workplace if they could be protected from retaliation and claim a monetary reward, according to a recent poll.
Labaton Sucharow LLP, the law firm that created the nation’s first whistleblower practice this summer, and ORC International conducted a survey in November that asked 1,000 Americans of their knowledge of wrongdoing in the workplace and their willingness to report it. More than one third (34 percent) of respondents said they knew of wrongdoing in the workplace.
Seventy-eight percent of respondents to Labaton Sucharow's Ethics and Action survey said they would report wrongdoing if they could do it anonymously without the threat of retaliation and it would result in a monetary reward.
"It is disheartening to see that wrongdoing in the workplace continues to be so widespread. However, the findings affirm the need for, and value of, the SEC's whistleblower program,” said Jordan Thomas, partner and head of the whistleblower representation practice at Labaton Sucharow, referring to the Dodd-Frank Wall Street Reform and Consumer Protection Act, which includes a whistleblower bounty program.
“This program, in concert with other regulatory reforms, has the potential to dramatically enhance investor protection and restore public faith in the markets," he said.
The SEC’s annual report for the whistleblower program revealed that it had received “numerous high-quality whistleblower submissions, originating from virtually every state in the union and numerous countries around the world.” In the first seven weeks of the program the SEC received more than 330 tips -- an average of seven tips per day.
Continue to the next page for more findings from the Labaton Sucharow survey.