With the rapid growth of regulations in recent years, risk management has taken on a new meaning in almost every industry. What was once a periodic review of financial and operational risks now requires managing the threat of being out of compliance with new laws and regulations.
The examples we listed are familiar to most of us, but no matter what industry you are in, compliance is vital to your company’s existence. While the cost of compliance is high, the cost of non-compliance is much greater. Direct costs are only the beginning. Consider these consequences:
The good news is that modern enterprise learning methods and technology were built with compliance in mind. With the right programs in place, the right leadership support, and effective learning delivery, you can give your people the confidence of knowing they are audit-ready.
Most compliance training required by law or regulation has as an annual requirement or a certification valid for a certain number of years. It is easy to fall into the trap of training only when it is time to renew or report. You can overcome that with embedded learning.
Instead of providing annual training, integrate learning into daily activity. A modern LMS gives you the ability to deliver quick video lessons, quizzes, and interactive gamified learning to any device. If a regulation or program requires classroom training, reinforce it with spaced repetition.
Lack of technology need not be a barrier. A colleague who manages training for a multi-state construction firm developed a program of short safety and compliance reminders that supervisors deliver on site at the beginning of the work day.
A great user experience is essential. Compliance is unlikely if your people hate using your LMS.
Configure your LMS to keep your people and their managers informed of certification and training requirements, and escalate notifications if there is no response. Most LMS vendors provide notification templates to make it easier.
Automate administration as much as possible. Don’t let human error expose your organization to compliance risk.
Update your learning and assessment tools when requirements change. If you contract with an e-learning provider, make sure you work with one that provides timely updates.
Give everyone complete visibility into your compliance programs by leveraging the reporting in your LMS.
Compliance is serious business, but a little laughter helps learning retention. Inject some humor into learning scenarios.
Compliance touches every person in your company, from the time you write a job posting to the procedures for separating a person from the organization. Use these tips to embed learning in your organization so compliance becomes “the way we do things around here.”