Business owners and managers are often so busy that they overlook the importance of compliance training. However, such training is essential for both employees and the business as a whole. If you manage or own a business, implementing compliance training is crucial.
Ongoing compliance training enhances employee development and safeguards your company against potential legal issues. A recent study by isolved indicates that up to 90% of employers are not prepared to meet the significant reporting requirements the COBRA has imposed. By investing the necessary time, money, and energy to train your employees on relevant regulations, you will reap long-term benefits. Consistent compliance training catalyzes employee growth, reduces the risk of lawsuits, and minimizes penalties for your business.
Compliance includes regulations that apply to a business, including those related to social responsibility, corrupt practices, health, and safety. The specific type of compliance training your organization requires depends on the size of your business and your industry. Some common types of employee training include:
As a business owner, it's your responsibility to make sure compliance training is a priority in your company. Here are some ways you can make sure your employees receive the training they need:
Compliance training should be a seamless part of the initial onboarding process for every new employee. By doing so, you set a precedent that compliance is non-negotiable and fundamental to the company's operations. This approach ensures that new hires start with a solid foundation in understanding the compliance landscape of your business.
Instead of overwhelming new hires with regulations, implement a centralized platform that offers quick access to essential information tailored to their roles and the industry's regulations. This will promote accountability and compliance from day one, preventing issues down the line.
Each position within your company may have unique compliance requirements. Clearly explain these requirements to new hires from the start. Tailored compliance training ensures that employees understand the specific issues relevant to their roles, which enhances their ability to perform their duties effectively and legally.
During compliance training sessions, encourage new hires to take detailed notes. These notes can serve as valuable references throughout their employment, helping them recall important compliance information. This practice not only aids in retention but also empowers employees to take ownership of their compliance responsibilities.
Compliance details can fade over time, leading to potential violations. To prevent this, schedule regular refresher sessions for all employees. These sessions should update staff on any changes in regulations and reinforce key compliance principles. Frequent training ensures that your team remains vigilant and knowledgeable about the latest compliance standards.
By prioritizing compliance training and making it an integral part of your workplace culture, you can minimize risks and ensure your company operates within legal and ethical boundaries.
Our Vision Team, with a total of 56 years in HR, recognizes the importance of thorough training on compliance regulations. As a result, we've become a trusted HR advisor for companies of all sizes, from small startups to large enterprises. Whether you need detailed guidance on compliance regulations, employee training programs, or other HR services, our dedicated team is here to help.
We offer personalized solutions to meet your unique needs and ensure your business operates smoothly and efficiently. Contact our HR agency today to speak with our experts and find out how we can support your organization's success.