Much ink has been spilled on the challenges created by the SEC's Final Rules implementing the Whistleblower Program for every U.S. public company, foreign private issuer, and SEC-regulated entity. There is no doubt that the Whistleblower Program, created in July 2010 by the Dodd-Frank Act, which offers whistleblowers potential financial rewards and protection from retaliation, will lead to an increase in whistleblower activity. Tangible evidence of that increased activity is contained in the SEC's Annual Report.

The SEC’s Annual Report highlights the risks to organizations covered by the Whistleblower Program. Meeting these challenges and minimizing risks require organizations consider a number of practical strategies to enhance their existing compliance infrastructures and controls, improve existing whistleblower programs to encourage employees to report possible compliance concerns internally and to protect reporting employees from retaliation, and develop investigatory protocols to enable the organization to thoroughly and promptly review internal reports of compliance violations.

How can an organization position itself to meet the challenges of the Whistleblower Program and stay ahead of the risks? This issue of Workforce Strategies offers a number of practical strategies for a CEO, senior management team, and a board of directors to consider.