The subject of compliance – whether that is compliance with a given organisation’s internal policies, or the regulations that the organisation’s entire industry is subject to – is hardly a “sexy” one. So, in many ways, we can’t be too surprised that great numbers of people don’t fully know of, or understand, its importance.
Hopefully, almost regardless of the sector you are presently working in, you will be aware of at least some policies and laws that you are required to comply with.
Compliance training, then, is simply training whereby organisations educate their employees on such policies, procedures, and laws, and the importance of following them. It is a form of training that is relevant across a broad range of industries, from healthcare to transportation and logistics, health & social care to financial services, touching on such vital elements of an organisation’s operations as workplace safety, data protection, and much more.
But what are the key aspects of compliance training that make it so crucial? Below, we’ve set out a few of them.
It helps to prevent organisations falling out of compliance
Any given organisation, of course, is staffed with fallible human beings, so the risk of non-compliance can never be eliminated entirely. However, well-targeted compliance training will greatly help a given company to minimise the scope for non-compliance.
A member of your organisation’s staff undertaking their duties in a non-compliant manner could put your company at risk of financial penalties or other potentially serious legal consequences.
This, in turn, could have all manner of further negative impacts arising from the associated reputational damage. So, you can probably begin to see why compliance training – to help embed the right practices among employees – can represent an excellent investment for an organisation.
It helps to balance ethical considerations with immediate company priorities
Whatever industry your organisation is in, and whatever your organisation does, you and your staff will ultimately be part of something much bigger than the organisation itself. Part of the reason why Government implements regulations for certain sectors to begin with, is because of the ethical risks that could arise otherwise, such as individuals’ health, safety, and/or privacy being imperilled.
There is an old-fashioned way of seeing company operations, which is that companies ultimately care mostly about their bottom line – and of course, that will always be a vital priority.
However, it is also widely considered today that the most successful companies in the 21st century bear in mind ethical factors, too. After all, potential customers are better informed than they have ever been on such matters as a given organisation’s environmental practices and how it treats its staff; if they don’t like a particular organisation’s track record in these aspects, they will probably consider alternative brands.
Compliance training can help provide a crucial foundation for making the most ethical practices a reality within an organisation. Frequently, in the 2020s, a company that has a strong culture of compliance, is also one with a culture that potential customers and employees are drawn to, thereby helping to benefit the firm’s “bottom line”.
It creates evidence of employees having received training
A training course isn’t just something that an organisation enrols its employees in for the sake of it. As we have already touched on in this article, the external reputation that a company has, will also have a real influence on its financial state and ability to survive and thrive.
So, when an employee of your organisation completes a compliance training course, this can serve as evidence to stakeholders – such as senior management, customers or colleagues, that staff members have been appropriately trained.
As a consequence of this, the employee will be better placed to identify compliance risks within the organisation, and to take action accordingly. This will help to ensure confidence in the organisation, both internally and externally, with associated benefits for the organisation’s financial health and growth potential.
Don’t overlook the value of ‘unglamorous’ compliance courses
Compliance training, then, might be something of a “ground-floor” requirement for your organisation, rather than something especially “sexy”, but it can certainly provide the foundation for your organisation to do some very exciting things.
If, then, you are on the lookout for the most suitable compliance training for your organisation, why not consult the myAko eLearning course catalogue today?
Talk to us about how myAko has helped their clients consistently achieve very high compliance percentages.