Corporate compliance refers to the processes a company puts in place to ensure its employees are adhering to the laws, regulations, standards, and ethical practices that pertain to the organization and the industry in which it operates. To be effective, a corporate compliance program must address internal policies and procedures, as well as federal and state laws. Compliance enforcement helps to ensure that your company can detect and guard against violations and protect your organization from fines and lawsuits.
The Importance of Employee Training in Achieving Corporate Compliance
In order for it to succeed, your corporate compliance program must outline expectations for employee activities and behavior with the goal of keeping them focused on your organization’s larger goals. The employee training process should be ongoing and integrate all of your compliance efforts, including external regulations as well as internal rules and procedures.
A compliance training program differs from any of the more general training programs your company may offer to address job functions and efficient operations. Compliance training addresses business and employment laws and introduces employees to industry-specific regulations that are relevant to your company and their work. It also covers any policies and procedures your organization has developed itself.
eLearning for Corporate Compliance Training
In the past, the only real option available for companies to deliver corporate compliance training was through instructor-led, classroom-based training. In recent years however, as cloud-based technologies have advanced and workforces have become increasingly remote (a trend that was already in motion before COVID-19), online learning, or “eLearning” has emerged as a preferred method for all types of corporate training initiatives, including compliance training.
When compared to classroom-based training, eLearning offers several powerful advantages:
Cost-Effective
eLearning eliminates many of the expenses associated with classroom-based training, such as travel and the printing and distribution of training materials. It also removes the necessity of pulling your employees away from their job duties as eLearning activities can be conducted during breaks or after hours.
Consistent
One of the challenges of classroom-based training is in ensuring that all of your instructors are working with an up-to-date set of training materials and delivering a consistent and accurate message. eLearning eliminates this concern by allowing you to leverage the same set of accurate training content across all of your various classes and programs.
Self-Paced
Given the importance of compliance training, it is imperative that you offer a learning experience that allows your employees their best opportunity for comprehension and retention. eLearning supports this by enabling students to learn at their own pace and spend as much time of each piece of content as they need to before moving on to the next section.
Measurable
Another challenge of classroom-based training is in the gathering and measuring important data to measure the engagement and success of your compliance training program. eLearning addresses this need through technologies that provide for the automatic capture and customized reporting of learner and program data.
Learning Management Systems for Corporate Compliance Training
The core technology for all eLearning programs, including corporate compliance training, is a Learning Management System, or “LMS”. An LMS is the software application for building, delivering, and tracking your corporate compliance training program.
While LMS applications have been available for a number of years, the evolution of the technology has led to two delivery options that many compliance training program managers may find interesting.
Cloud-Based
A cloud-based LMS is a third-party offering in which the vendor has built the application and sells it to their clients on a subscription basis. Unlike on-premises (self-hosted) LMS applications, a cloud LMS does not require a significant up-front investment, and your company can usually be up-and-running with the application in minutes.
Multi-Tenant
Another, relatively recent, development in LMS technology is the introduction of multi-tenant architecture. While a single tenant LMS allocates the entire deployment of the application and its supporting components for a single learning environment, a multi-tenant LMS provides you with an ability to dynamically deploy multiple instances of the application. This allows you to launch and manage private learning environments (portals) for each of your unique audiences, thus creating a separate and unique experience for each group.
LMS Portals for Corporate Compliance Training
LMS Portals offers our clients and partners a cloud-based, multi-tenant learning management system that allows your to dynamically launch and manage multiple, private eLearning environments to support the needs of your unique audiences. Using our system, you can launch a new portal in minutes; each with its own unique branding and powerful supporting tools.
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