/* ---- Google Analytics Code Below */

Monday, February 20, 2023

Does it Pay to be a Whistlebower? and ChatGPTs General Answer.

In HBS Working Knowledge and Podcast ... 

Business Research for Business Leaders

Topics, Sections

14 FEB 2023 COLD CALL PODCAST follows ... 

Does It Pay to Be a Whistleblower?

In 2013, soon after the US Securities and Exchange Commission (SEC) had started a massive whistleblowing program with the potential for large monetary rewards, two employees of a US bank’s asset management business debated whether to blow the whistle on their employer after completing an internal review that revealed undisclosed conflicts of interest. The bank’s asset management business disproportionately invested clients’ money in its own mutual funds over funds managed by other banks, letting it collect additional fees—and the bank had not disclosed this conflict of interest to clients. Both employees agreed that failing to disclose the conflict was a problem, but beyond that, they saw the situation very differently. 

One employee, Neel, perceived the internal review as a good-faith effort by senior management to identify and address the problem. The other, Akash, thought that the entire business model was problematic, even with a disclosure, and believed that the bank may have even broken the law. Should they escalate the issue internally or report their findings to the US Securities and Exchange Commission? Harvard Business School associate professor Jonas Heese discusses the potential risks and rewards of whistleblowing in his case, “Conflicts of Interest at Uptown Bank.”  ...    '

Part II:

ChatGPT  answers, much more generally, 

Does it Pay to be a Whistleblower?

Being a whistleblower can come with significant risks and consequences, both personal and professional. However, it is important to note that there are also potential rewards and benefits to blowing the whistle on wrongdoing.

In some cases, whistleblowers may be eligible for financial rewards, such as a percentage of the amount recovered in a government investigation or qui tam lawsuit. Whistleblowers may also receive protection from retaliation, such as being fired, demoted, or harassed, under various whistleblower protection laws. These laws can protect whistleblowers from retaliation by their employers or colleagues, including by providing legal remedies, such as reinstatement, back pay, and compensatory damages.

Additionally, whistleblowers may also experience a sense of personal satisfaction and fulfillment from doing the right thing, and from knowing that they have helped to expose and prevent wrongdoing that may be harmful to others.

However, it's important to note that being a whistleblower can also come with significant personal and professional risks. Whistleblowers may experience retaliation, such as being ostracized, bullied, or harassed by their colleagues and superiors, and may face difficulty finding new employment in the same industry or field. The process of blowing the whistle can also be stressful and time-consuming, involving legal proceedings, investigations, and media attention.

Ultimately, the decision to blow the whistle on wrongdoing is a personal one, and depends on a variety of factors, including the severity of the wrongdoing, the potential risks and consequences, and the individual's personal and professional values and goals. It's important to weigh the potential benefits and risks carefully and seek the advice of a qualified attorney or whistleblower advocate before making a decision.   END

Compare,  Usefulness?  

No comments: