Business MetricsMetricsRisks & Metrics Mistakes

Metrics to Dodge Most Common Compliance Mistakes

After dedicating a significant budget and time on compliance, many organizations make the most common compliance mistakes that cost them big.

In this article at Rework, Charles Coy explains that even though no organization would like to fall in a code of conduct violation, lack of compliance training turns their biggest fear into reality.

The Problem Area

Many organizations consider compliance as a checklist exercise and force their employees to sit through a training to showcase that the employees are well-versed of the compliance rules. However, they fail due to a lack of measurement and effective compliance training. Here are some metrics to avoid them:

  1. Underrating the Impact of Non- Compliance: Ignorance of the perils associated with ineffective compliance training exhibited by small companies. To validate the impact of non-compliance, share metrics on how often organizations are fined and how cost-effective could be appropriate compliance training.
  2. One-Size Fits All Approach: There is no one-size-fits-all approach to compliance training. Let the employees know a clear correlation between the training they are completing and its benefit to their job. To carry pertinent compliance training that may keep employees engaged, use ‘pulse’ surveys and track employees’ sentiments to gain insight on how the workers view training.
  3. Outdated Training: Establishing compliance content is a huge investment. However, outdated content is ineffective and may lose its value quickly. By tracking updated content costs across departments and comparing them with the cost of compliance violations, you can track loose ends. This insightful information can help the compliance managers to reassess their strategy, and invest in an updated content.

Click on the following link to read the original article:

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