Corporate compliance refers to an organization’s efforts and ability to adhere to defined standards of conduct. These standards, whether internal or driven by industry regulations, are extremely important for employees to know and follow as the company’s reputation and trust are at stake. Give this, corporate compliance training for employees has become valuable to the point that it is now essential, regardless of company size or the industry in which you operate.
Today, employees, clients, partners, and other stakeholders are all operating with high expectations regarding ethical conduct and transparency. Companies must implement effective and ongoing compliance training programs in order to minimize risk and keep everyone informed and current regarding compliance issues and expectations.
The Elements of an Effective Corporate Compliance Training Program
Compliance training is a critical part of your company’s risk management program. Depending on your industry, training is often required through legislation, regulation, or policy. Effective compliance training will educate your employees regarding the laws and regulations that apply to your industry and their specific role at your company. The goal is to prevent poor conduct by employees and ensure proper governance across your organization.
Include Leadership
Interviewing and gathering program input from corporate leadership is essential in preparation for developing and implementing your program. A thorough understanding of relevant laws and your organization’s goals will be critical to the success of the program. Without leadership involvement, an organization is unlikely to develop a complete and comprehensive program, which could create risk in the future.
Ensure Relevance
You must put processes in place that ensure that you are always using current, up-to-date information for your program training materials. Your program should address your company’s internal regulations, as well as relevant laws. The materials you include should be job-specific and emphasize the importance of adherence to these rules and regulations.
Create Consistency
Your program materials and messaging need to be consistent across multiple sessions and courses in order to eliminate any confusion and ensure adherence to current and relevant laws and regulations. You should have processes in place to make sure that your compliance program trainers are working with a consistent set of learning content.
Offer Flexibility
In order to help ensure that your employees have access to the compliance training sessions they need, you should provide multiple methods and opportunities for workers to participate.
Monitor Participation
Unlike many other types of corporate training programs, compliance training is often mandatory. Because of this, your program should include an ability to track employee participation, progress, and success, along with an ability to create and share reports and analytics.
eLearning and LMS Technology for Corporate Compliance Training
eLearning refers to the use of electronic technologies (the Internet, primarily) to drive and support learning and training programs. In years past, most companies implemented their compliance training programs through in-person, classroom-based sessions, the availability of powerful cloud-based technologies, combined with increasingly remote workforces (a trend that was in place, even before COVID-19) has made eLearning a preferred approach to compliance training.
The core technology that supports all types of eLearning programs, including corporate compliance training, is a Learning Management System, or “LMS”. An LMS is the application that is used to build, deliver, manage, and track corporate compliance training programs. And while some companies choose to deploy an LMS on their own servers (self-hosted), most companies today choose to work with a third-party vendor in order to access LMS features and capacity over the Internet (cloud-based).
LMS Portals as Corporate Compliance Management Software
LMS Portals provides our clients and partners with a cloud-based, multi-tenant learning management system that serves as a powerful component for corporate compliance management software. Our platform allows you to launch and manage private eLearning environments (portals) on-demand. And each portal you launch can have its own branding, along with robust tools for course development, user onboarding, learner collaboration, analytics, and more.
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