Skillsoft Blog

5 Myths about Compliance Training

5 Myths about Compliance Training

By Norman Ford

While nearly all organizations have documentation detailing the rules that every employee must follow, many leaders believe that this is enough to keep their organization safe. To protect your employees and your liability, check out these five common myths regarding organizational compliance.

1) Compliance training is only important in a high-risk industry.

According to federal regulations and guidelines, your organization is responsible for keeping employees trained.  In addition, your organization must maintain a monitoring/reporting program to ensure the effectiveness of your compliance program.

2) It is better for me to build my own compliance training program.

Some organizations may choose to develop their own training program because they believe that they can better tailor the message and cover all the areas that they find important. However, many of these companies leave gaps or create ineffective training programs and fail to take on the burden of keeping the training up-to-date.

Skillsoft Global Compliance Solutions offers customizable content, targeted messaging and tailored topics to ensure your program delivers exactly what you want and need. Our experts work with you to cover all key areas for your industry and walk you through implementation.

3) Compliance training is too expensive.

Going without a compliance training program is like driving a car without insurance. You might have no issues for a while, but sooner or later, there will be an accident and it will cost you. Latest numbers show that even after successfully winning a case, organizations still face a loss of $150,000[1] from lost time and workplace disruption.

There is also potential damage to the reputation of the company to consider.  A well designed compliance training program helps you find problems before they arise and shows your effort maintaining a compliant corporate culture.

4) Compliance training has no impact on company growth.

The best compliance programs are integrated into the organization’s measure of success. When a compliance training program is ingrained in an organization’s culture, employees are confident in knowing what they can and cannot do and feel comfortable in reporting any violations they see.

5) No one pays attention to compliance training.

Compliance training does not have to be boring. By delivering engaging training, your employees will better retain the content.  “With Skillsoft, 86% of what is learned by employees is applied to their job.”[2] Our compliance elearning programs focus on giving you trackable and quantifiable results for every one of your learners.

Norman Ford is Vice President, Operations, Global Compliance Solutions at Skillsoft.

 


[1]Overview of Significant Legal Issues Impacting the Workplace, by Michelle J. LeBeau. 2013 National Practice Management Conference. 2013.

[2] Challenge the Status Quo with a Smarter Approach to the Global Talent Crisis, by John R Mattox, II, PH.D. and Kieran King. KnowledgeAdvisors and Skillsoft. February 2013.

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