Compliance training courses may seem like the least exciting topic on earth, but they can provide valuable benefits for both employers and employees alike. By understanding why you’re required to complete one, you can better appreciate its value and use it as an opportunity to learn more about your company and its policies. But compliance training isn’t all bad:
- it can make employees feel included and valued by their company.
- it can help companies abide by regulations.
- and it’s an opportunity for managers to share best practices with their staff.
So, let’s take a look at some things that make compliance training worth doing.
What is compliance training?
Compliance training is the practice of having employees watch videos, take online tests, or sit through in-person lectures about their company’s policies and procedures. For example, you might be asked to watch a video explaining your company’s harassment policy if you’re new to the organization. According to the team behind worktraining.com, compliance training ensures that employees are aware of their company’s policies, which in turn minimizes the risk of lawsuits and helps businesses stay compliant with regulations. It also helps to create a culture of compliance within an organization.
Benefits of compliance training
There are many advantages to compliance training, from including all of the employees to protecting the company from lawsuits. Learning about them can ensure your knowledge about the company and your position in it, as well as your rights and obligations. Breaking the myth that compliance training is a time-wasting activity with no purpose should be the first step to enhancing the quality and experience of all workers in the company.
Employees feel included and valued
One of the best things about compliance training is that it allows employees to feel included in the organization. By watching videos or taking online tests, they are learning about the company’s policies and procedures, just as everyone else is. This helps to create a sense of unity within the company and makes employees feel like they are an important part of it.
Helps businesses stay compliant with regulations
In order to protect their businesses, many companies put into place compliance procedures that must be followed by all employees. By having everyone complete compliance training, you can ensure that everyone knows and follows these procedures. This will help keep your company on the right side of regulations and help keep you out of trouble.
Helps to create a culture of compliance within an organization
One key to running a successful business has employees who understand what’s expected of them. This makes it easier for managers to hold these employees accountable for their actions, leading to greater productivity overall. According to compliance training experts, creating this kind of culture means that your employees are likely to be more productive than those in companies without one.
Why do companies offer compliance training?
Regulations like Sarbanes Oxley (SOX), The Securities Exchange Act of 1934 (SEA), and others require companies to provide some form of compliance training for employees. Even if your company isn’t subject to specific regulations, offering compliance training can help keep it competitive by ensuring that all employees are familiar with relevant policies. It can also give managers an opportunity to disseminate best practices throughout the organization so everyone is working towards the same goal.
Compliance training courses are intended to protect both employers and employees by helping companies stay compliant with regulations while decreasing the risk of lawsuits for workers.
Why compliance training is essential for businesses
Too often, compliance training is seen as an inconvenience or something that will take up time at work; it’s important to remember that doing so can actually benefit your business in many ways, including increasing productivity, creating a sense of unity within your company, and protecting you from costly lawsuits. If you don’t have any experience with compliance training but are required to complete one at your job, try looking at it differently by focusing on some of its benefits instead of being upset about having to watch a video or take a test. By doing so, you’ll be more likely to get the most out of it and learn what you need to know in order to stay compliant.
When it comes to compliance training, there are many benefits that both employers and employees can reap from completing one. Some of the key benefits include helping businesses stay compliant with regulations, creating a culture of compliance within an organization, and increasing productivity. In order to truly appreciate the value of compliance training, it’s important to understand why companies offer it in the first place. Regulated industries like banking and securities have been required to provide some form of compliance training for employees for many years now, but even companies that aren’t subject to specific regulations can benefit from offering it.
How to make compliance training worth doing
Compliance training is something that many people dread; they’ll complete the course and immediately forget everything they learned. While this certainly doesn’t help to make compliance training worth doing, there are things you can do in order to remember everything and be prepared for whatever it is you’re supposed to learn.
Consider using these strategies:
- Take notes: Write down all the key points mentioned in your compliance training courses, or re-watch them if you have access to a recording of it. This will help you better retain all the important items, so when your managers ask about it, later on, you won’t forget anything.
- Ask questions: The best way to use compliance training as an opportunity to learn what your company expects of its employees is by asking questions. Your managers will appreciate your proactive approach, and it shows that you’re making an effort to learn about these policies.
- Prioritize: Of course, there’s a lot of information that you’ll probably need to learn from your compliance training courses. While it can be helpful to write down everything you need to remember, prioritize what’s most important for the task at hand. This will enable you to focus on those items first while freeing up your time for other things later on.
Compliance training is mandatory for many employers, but it doesn’t have to be a waste of time or something you dread doing every day. By focusing on the benefits and changing how you approach this type of training, you can get a lot out of it and retain all the important information.
When it comes to staying compliant with regulations, nothing is more important than having a solid compliance training program in place. By completing one of these courses, employees will learn the policies and procedures that their company expects them to follow while working. In addition, compliance training can help to create a culture of compliance within an organization, which is essential for businesses that want to avoid costly lawsuits. Finally, completing a compliance training course can also increase productivity by teaching employees how to better manage their time. With so many benefits available, there’s no reason not to take advantage of compliance training courses.