Fraud and misconduct is something that all types of businesses experience. As long as there are employees working for you, there’s always a chance of human error and bad choices. How does a company effectively manage errors like this? There are a number of services available on the market to help manage workplace misconduct but many businesses choose to utilize a hotline or whistleblower service. Not only does this service give your employees a way to report improper behavior, it allows your company to manage and control any issues that may be taking place. Is your company interested in this service? In this article we’ll explore the cost of Hotline or Whistleblower service so you’ll know what to expect when you go to purchase it.
What is a Hotline or Whistleblower Service?
A Hotline or Whistleblower service is typically an anonymous and independent system that allows employees and others to report workplace misconduct without fear of being reprimanded. The system usually runs along with a hotline phone number and an email service. These systems are especially popular among businesses because they not only help reduce costs due to fraud, they create a more reputable and honest place for your employees to work.
How Much Does a Hotline or Whistleblower Service Cost?
Since there are so many different hotline/whistleblower service providers, the cost for this service can vary quite a bit. There are different features, like anonymous phone numbers and emails, that are often provided with whistleblower services. Sometimes there are website form fills, reporting and dedicated staff members that help you manage this service for your business.
The cost for this type of service depends on the features you need and the type of service you’ll require.
Most of the time, this service is offered with a fixed fee. This price is often based on the number of employees that the service will be provided to. The price goes up as the number of employees using the service increases. For instance, this type of contract typically starts around $1000 for an average of 1,000 employees.
For smaller, less feature packed services, you can find other options that have a flat fee, regardless of employee size. There are options available as low at $500 a year. For nonprofits, the service is offered at an even lower cost.
As you can see, with the variety of whistleblower service options on the market, the cost for this service can vary quite a bit. It’s important that your business runs with a backbone of truth. By holding your employees accountable and by creating an atmosphere of honesty within your company, you can have a reputable image portrayed to current and potential customers. If you’re interested in implementing this service into your company, do your research and truly understand the cost behind this service before your sign up.