How to Build a Corporate Compliance Training Program
A Corporate Compliance Training Program not only includes and covers potential business risks but also helps organizations reduce costs. Here are some of the ways you can create a successful program.
Focus Training on Risks
Once you know which risks you need to focus on, creating relevant training topics will not be difficult. Include the following:
- Industry specific rules and regulation
- How to implement said regulations
- Data on current trends
- Opinions of experts
- Program assessments
Once you have determined all of the risks involved in your organization, focus on them according to importance. Besides determining the urgency of each risk, the frequency with which they occur should also be considered. In addition, how much money each risk costs the organization and how long it takes to address it should also be covered in compliance training.
Make Employees Accountable
Unless someone is held accountable for preparing the training program, it cannot be executed successfully. Therefore, once you have everything you need, designate an employee you trust with putting the program together. To make the process easier:
- Create digital copies of all hard copies you need
- Determine what recording systems track
- Maintain a record of all documents used in the program
- Merge all recording systems to consolidate data
Determine Program Success Rate
To determine whether the Corporate Compliance Training program will be successful or not, you need to look at 3 things:
- The goals you need to accomplish with the training sessions
- The tools you will need to measure said goals
- The metrics you will use to measure those goals
As a compliance professional and trainer, you need to keep your business goals in mind and then choose the tools you need that can help you realize them.
Encourage Employees to Practice What They Learn
Investing in online compliance training is convenient for employers who want to keep employees up to date with new trends and revise what they have learned. Besides allowing workers to educate themselves according to their convenience, it can also aid HR managers and compliance professionals in pinpointing employees who are lagging behind others in knowledge. Once the training ends, that does not mean your job is over. After introducing new policies to your workforce, you need to remain vigilant regarding new trends and rules. It does not take long for policies to become outdated and this includes risks which might seem irrelevant at first. As new policies are introduced, the risks a business can face also change and grow. Besides laws and regulations, the need to remain relevant in an industry and beat competitors at the same time can create the need for new policies. Those new elements can change the way you do business and how you manage/motivate your employees.
Include Workplace Ethics and Codes of Conduct
A clear code of conduct can help employees determine what is and isn’t acceptable in the workplace. By maintaining a standard of behavior that is acceptable in the organization, employers can prevent conflicts. This will go a long way in maintaining a safe and productive workplace environment which is only good for your retention rate.
Include Financial Compliance
To prevent financial fraud such as money laundering in your organization, consider the Banking and Compliance Training course from 360Training. The course includes a comprehensive overview of relevant government rules and regulations along with common trends in financial crime. On completion of the course, students will be able to detect and report questionable activity surrounding company revenue.
Corporate Compliance Training Program by 360Training
As a HR professional, your job is not only to maintain the compliance and safety of the employees in the company, but also its reputation. 360Training offers a large research based library of content that includes material for compliance training and courses you can refer to. Keep the workforce you are responsible for informed of the latest regulations and prepare them to handle common workplace hazards before it is too late. Corporate Compliance training courses are designed to help employees remain vigilant when it comes to questionable business activities. These include bribery, money laundering practices, behavioral issues, and any business dealings that are unethical.