Compliance in business is all about meeting legal obligations. From preventing discrimination to proper customer data management, it entails a proactive approach to prevent the revocation of business licenses and paying hefty fines. Not to mention, non-compliance can also negatively impact business image, and in turn, will hurt profits. To ensure compliance, invest in training. In this article, we’ll talk about some of the most common reasons why compliance training fails.
- Having a Generic Approach
There is no one-size-fits-all approach to executing an effective compliance training program. Meaning, if it works for other companies, this does not necessarily mean that it will work for your organization. So, you need to have a customized approach in designing compliance training. It should be based on the needs of the employees and the goals of the business. If you need help implementing personalized compliance training, check out True Office Learning.
- Lack of Engagement
Compliance training will fail when the participants are not engaged. When designing the training program, the priority should be to make it as interesting as possible. One thing that you can do is to take it online, making it accessible anytime and anywhere. Also, break it down into nuggets that will be easier for the trainees to comprehend. To help engage the learners in online compliance training, consider working with the pros at True Office Learning.
- Insufficient Resources
Compliance training can be resource-intensive, especially from a financial perspective. It will fail when the company does not allot the necessary resources. From hiring an expert trainer to creating the necessary training materials, it can be costly. Not to mention, it can also be time-consuming, so make sure that resources are enough to support compliance training.
- Lack of Continuity
Viewing compliance training as a one-time event is one of the fool-proof ways to make it fail. Instead, make sure that compliance training is a continuous effort. At the very least, it should be done once a year. Laws and trends are changing, and hence, employees must be able to keep up.
- Failure to Assess
Measuring the effectiveness of compliance training is important to identify points of improvement. This is possible by asking the participants to provide honest feedback through an interview or survey. Use their inputs to determine the changes to execute to make future compliance training programs more successful compared to the past.
- No Management Support
Compliance needs leadership, so support from the top management is important for training to succeed. One of the best ways to do this is by making sure that there is an allotted budget. To add, even the management should also participate in the training, recognizing that compliance affects everyone in the organization.
Companies globally are spending a fortune to ensure compliance, especially by executing training programs. These programs, however, will fail if there is a generic approach, lack of engagement, and absence of management support, among other things.