12 Aug Why train your staff in compliance?
Compliance training is the process of making sure employees understand all the laws, regulations, and internal policies relevant for your business, and know how to adhere to them in their daily work. The training walks employees through examples of how issues of ethics, safety and compliance apply to their roles in the workplace.
Compliance training takes time and should be an ongoing process, as opposed to bombarding employees with large amounts of information in one go that they are unlikely to retain. A lack of knowledge surrounding compliance can have disastrous effects for an organisation
The most important purpose of compliance training is to stay on the right side of the law and ensure that everyone is kept safe. As workplace laws and regulations are constantly evolving, it is even more important to keep up to date with ongoing training. This directly affects an organisation’s ability to maintain a well-respected reputation, as legal complications could create a negative public image. A good reputation will naturally attract new clients and maintain old business, as you will be regarded as a trusted, professional company. This, in turn, increases sales and profits.
As well as improving profit, compliance training saves money. Although there is a cost to implement compliance training, non-compliance can cost even more. This may include legal fines, business disruption and losses in productivity and revenue.
Compliance training is also important in terms of protecting the company over the long-term. Compliance is aligned with the best practices for an organisation, so as this and the requirements for compliance evolve over time, it ensures that businesses are compliant with regulations before they have come into effect.