When it comes to your compliance program, there are generally two approaches people take. They either do just enough to comply with the laws, or they integrate compliance into their company culture. Now, which do you think is more effective?
What Makes a Compliance Program Effective?
Your compliance program must be more than simply checking a box. To truly have an effective program, you need many things, including:
- A strong commitment from leadership
- Well-documented policies and procedures
- Processes for reporting, monitoring and discipline
- And a robust training program
The problem is that sometimes that last point gets pushed to the side in favor of the other three. But, you cannot discount the importance of training. It’s one of the best ways to communicate your code of conduct and dedication to ethics to your employees and third parties.
Once you make training a priority, the question then becomes, in-person or online?
In-Person or Online Compliance Training?
There are numerous benefits to both types of training. And the right answer to the question of in-person or online is not the clearest: It simply depends on your organization’s needs.
What we can say, is that there are many benefits of online training that sometimes get overlooked in favor of in-person training. To explain these benefits, we asked Michael Volkov, compliance expert and author of the popular FCPA blog Corruption, Crime & Compliance, for help.
In his whitepaper, Online Compliance Training: Making the Right Choice, Michael reviews the major advantages to online training. Plus, he offers insights into what companies should look for in a training partner.
According to Michael, Do not be intimidated by the range of third party vendors out there, there are many who are capable and will be productive partners for your organizations.
Since I’ve been working with Workplace Answers, I’m partial to their program but I promise you, there is a vendor out there that is right for your organization. Talk to a few vendors to figure out which options will best align with your needs. Tackle your training program with their help.
Conclusion
Once you have the right training solution in place, you are well on your way to creating an effective compliance program.
To learn more, check out our courses and schedule your demo today.