Up until now, your compliance training may have been completed with a “let’s get this over with” attitude.
But…according to research firm Brandon Hall group, 70% of organizations are now treating compliance training as a priority – especially in industries that have heavy regulatory demands such as life sciences, healthcare, finance and manufacturing.
The cost of poor and mismanaged compliance training can have a seriously negative impact on a business.
One of the many purposes of compliance training is to deliver vital information that equips employees with the knowledge that they need to meet critical policy, regulation and legislature requirements.
A few compliance requirements that you may find your business having to address include:
Compliance training requires competent leaders
Perhaps you are a manager, trainer or L&D specialist who is responsible for ensuring that all your employees are covered with the necessary compliance requirements that the business needs to uphold.
Not only is it useful to know that your employees are equipped with the knowledge and skills to pass internal certifications and tests, but it’s also vital to know that they are meeting the legal industry standards.
Leaders and managers in a company are responsible for figuring out the best ways to deliver effective training to their employees, without having them dread the incoming compulsory training material.
For these reasons, having good leadership and management can significantly influence the success of compliance training programs. Buy-in and the right attitude from management significantly boost the success of compliance training implementation and encourages employees to embrace and see it as beneficial to them.
With great speed comes great responsibility
Today, knowledge needs to be created and delivered faster than ever before. With constant connectivity and mobile accessibility, employees are expected to always be in the know with the necessary compliance information.
Mobile accessibility has made the sharing of key compliance knowledge an advantage to every business, but also placed more pressure on companies to meet regulations quicker than before. No longer do employees have an excuse to not know policy and regulation updates, as information is being made available everywhere, anytime and on any device.
Knowledge is now being accessed through smart technologies where notifications constantly ensure that employees are keeping up and staying engaged with their learning materials and not falling into knowledge gaps.
Closing knowledge gaps effectively is what truly matters when new policy and regulations are constantly being updated at a rapid pace. Quick and easy solutions such as TIME To KNOW ensure that employees are always up to date with the knowledge they need to know.
Meeting compliance training expectations is a major focus of TIME To KNOW’s training platform. One example is through the ability to enable any subject matter expert to quickly and easily create meaningful content. By cutting out the middleman in the training creation process, business knowledge goes straight from the source to the end-user – drastically reducing employee training time and equipping employees with the skills and knowledge that they need.
Compliance training made to engage
Even though training needs to be distributed quickly, it cannot be at the consequence of poor-quality content. Trainers, managers and L&D specialists who are responsible for delivering compliance knowledge need to think strategically when building their training materials – ultimately aiming to maximize the impact that it will have on employees and boost their training results.
Here are a few ways to deliver compliance training that ensures high levels of employee engagement.
Reap the rewards of accessing training results
By having valuable insights into the knowledge levels of your employees, you can mitigate the risk of gaps appearing in employee compliance knowledge.
If a new health and safety regulation was issued, trainers, managers and L&D who are responsible for training would greatly benefit from knowing who completed and understood their training.
Sales reps that sell in a heavily regulated industry are a great example. As a manager or company leader, you would want to know if your reps are fully prepared to enter a situation and deliver the correct information to the potential client.
By having access to BI dashboards, metrics and results, managers can have more control over the situation by seeing if employees are competent and capable.
Metrics can give managers the peace of mind to know that in the case of an emergency, safety or security check, employees have completed what is needed to pass the necessary requirements and be in control.
Strengthen compliance training
Businesses are highly dependent on compliance training. At the end of the day, it may not feel like the most riveting and exciting of practices, but its importance cannot be downplayed. With the necessary buy-in from company leaders and managers in addition to the openness of employees, meeting compliance training requirements ultimately impacts the bottom line of every business through minimized risk and effective work practices.
Find out more how TIME To KNOW can help you to ensure that all your employees, partners and customers are meeting necessary compliance standards.