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Case Study

Castolin Eutectic Builds Holistic View of Compliance With Suite of NAVEX One Platform Products

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Case Study
Castolin Eutectic Builds Holistic View of Compliance With Suite of NAVEX One Platform Products
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About this Case Study

NAVEX upgraded Castolin Eutectic’s ethics and compliance standards with multiple products: Code of Conduct, EthicsPoint Incident Management, NAVEXEngage Ethics & Compliance Training, and NAVEX ESG.

  1. Industry:
    Industrial Technology
  2. Number of employees:
    1,600
  3. Challenge:
    Needed an updated code of conduct, plus a more holistic view of its compliance strategy.
  4. Solution:
    NAVEX upgraded the ethics and compliance standards with multiple products.
  5. NAVEX Products:
    Code of Conduct
    EthicsPoint Incident Management
    NAVEXEngage Compliance Training
    NAVEX ESG

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Highlights:

• Castolin Eutectic implemented multiple products available with NAVEX One GRC Software – Code of Conduct, EthicsPoint Incident Management, and NAVEXEngage Software for Online Ethics & Compliance Training, all of which are a part of the NAVEX E&C solution suite.
• Creation of a new multilingual code of conduct, developed and designed to reflect the company’s international footprint.
• Successful introduction of a helpline to comply with the EU Whistleblowing Directive.
• Staff underwent comprehensive ethics and compliance training.
• The success of this project led to Castolin Eutectic adopting NAVEX ESG, which developed and integrated an Environmental, Social and Governance framework across the business.
• An overall cost advantage and positive partnership that meets compliance requirements across the world, with a view for a long-term relationship.

Introduction:

Last year Castolin Eutectic, an industrial Maintenance and Repair technology company spanning multiple markets, needed a more holistic view of its compliance strategy, including:

  1. A new code of conduct for the entire business

  2. Compliance with the incoming EU Whistleblowing Directive

  3. An ESG framework to effectively manage how it measures multiple important factors

Due to the nature and scale of the business, Castolin Eutectic required an experienced partner that would help it align with each market’s individual nuances. This called for expertise that the company did not internally have, moving it to search for an external partner.

Castolin Eutectic ’s senior management team’s previous positive experience at other companies made NAVEX the obvious choice. The Castolin Eutectic board led the initiatives as part of a wider program to increase ethical standards across the business, successfully implementing a suite of products that would help ensure regulation compliance.

Challenge:

A Lack of Clear Code of Conduct Across the Business and the Looming EU Whistleblowing Directive Deadline Castolin Eutectic ’s most recent code of conduct was outdated. The company needed a new version that complied with regulations and would overcome barriers between regions. For example, Japan’s up-to-date code made a replacement in that market unnecessary, while Russia felt employees would not engage with it. Creating a code of conduct requires support and expertise to ensure expert advice and best practices are included. The company needed an accessible, engaging, and reliable solution that could be reviewed and updated when required.

Castolin Eutectic was also in need of an incident management platform, as required by the EU Whistleblowing Directive, which came into force late 2021. The challenge was finding a cultural fit across different regions, as not every market felt it would be suitable. Castolin Eutectic needed the expertise to understand the complexity of compliance across different markets and a solution that would manage reports and incidents from an effective centralized point. Other parts of this revamp were to educate employees about ethics and compliance, to improve the organization’s culture and for its compliance suite to be effective.

Solution:

A Slick and Engaging Code of Conduct and Helpline That Meets Compliance, Supported With Training in Multiple Languages NAVEX upgraded Castolin Eutectic ’s ethics and compliance standards with multiple products:

Code of Conduct: NAVEX worked closely with Castolin Eutectic to design an interactive PDF code of conduct as a source of work standards information. The code incorporated policies, ethics training, behavioral expectations, and hotline reporting communication to reinforce values and regulatory requirements.

EthicsPoint Incident Management: To comply with the upcoming EU Whistleblowing Directive, NAVEX introduced EthicsPoint across the business. This whistleblowing hotline service provides employees, customers, and suppliers with a safe place to speak up about workplace concerns.

Online Ethics & Compliance Training: NAVEXEngage, NAVEX’s online ethics and compliance training solution, provides legally vetted and topical content that helps with compliance and employee adoption. Training addresses compliance, conduct, employment law and information security risks. The online platform is available in multiple languages and is easy for employees to access, wherever and whenever is most convenient to them.

Results:

Compliance With the EU Whistleblowing Directive, a Clear and Engaging Code of Conduct and a Broadened Suite of NAVEX’s Products With NAVEX ESG Implementation Within a year of working with NAVEX, Castolin Eutectic rolled out an excellent code of conduct to over 1,600 employees globally. The code is effective in overcoming concerns or resistance from each market, and the web-based design is accessible to all, successfully upgrading the company ethics standards and compliance. The new code of conduct puts Castolin Eutectic on equal footing with competitor ethics standards, modernizing the company and laying the foundations for the years ahead.

Furthermore, Castolin Eutectic now complies with the complex EU Whistleblowing Directive, delivering a helpline that manages incidents from a single location for effective reporting and action. To maintain ethics and compliance across the business, training is taking place in multiple languages and markets to educate and inform employees on matters including conflict of interest, global data privacy and anti-bribery and corruption.

The successful implementation of a holistic view on ethics, through multiple NAVEX products, prompted Castolin Eutectic to broaden its suite of services with NAVEX ESG. The creation of ESG frameworks such as CDP, SASB and GRIC are currently underway as the business commitments to making ESG part of the business strategy, culture, and daily operations. Thanks to existing relationships in the Castolin Eutectic senior team and NAVEX account managers, who worked closely with Castolin Eutectic, not only does the business now meet compliance requirements across the world, but it has also received an overall cost advantage, topped with an incredibly positive experience.

Berthold G. Jansen, Global Chief Human Resources Officer at Castolin Eutectic: “Castolin Eutectic is proud to work with such a fantastic company – as a customer and as a client – the experience has been brilliant. The team we’ve worked with has provided excellent expertise and guidance, as well as products that deliver exactly what we need and beyond. It’s not easy to find a true partner that feels like an extension of our team – but we are now working with NAVEX on several more programs and look forward to a continued, long-term relationship.”