Mitigating Risks In The Modern Corporate World Through Compliance
Every organization knows they have to implement some form of compliance training. After all, it allows them to maintain a positive brand image because they’re holding themselves accountable. Plus, you have proof that your L&D is up-to-par in case of an emergency or regulatory violation. But there are other perks to consider. Perks that make a stronger business case for investing in new compliance training software. Namely, being able to keep your employees right where they are instead of losing them to organizations that maintain higher compliance standards. In this article, I explore 5 ways that investing in a compliance training LMS can help you retain your top talent and keep them satisfied on the job. I’ll also tell you a bit more about our compliance training LMS eBook which can help you build trust and boost your bottom line by choosing the right Learning Management System.
How A Compliance Training LMS Retains Your Top Performers
1. Offers JIT Support To Improve Performance
Compliance training software breaks down the geographical barriers so that every member of your team has at-their-fingertips support. They can access online training tutorials or demos to see how it’s done or participate in social learning activities to gain more experience from their peers and explore compliance issues from fresh perspectives. For example, they can discover new ways to tackle a COI dilemma or creative solutions to a personal performance obstacle. It’s also done more discreetly. With traditional training, employees often have to approach managers or team leaders to deal with work-related compliance challenges. A compliance training platform enables them to handle the issue on their own, whenever the need arises.
2. Facilitates Real-World Application
More often than not, employees have to jump into tasks and try to acclimate to their new job responsibilities. There’s very little opportunity to actually apply what they’ve learned beforehand. However, investing in a compliance training LMS allows them to participate in simulations, branching scenarios, and serious games to build practical experience. This also points out areas for improvement they can address prior to stepping into the workplace. Making it a valuable addition to your onboarding compliance online training program.
3. Encourages Mistake-Driven Learning In A Risk-Free Environment
A side benefit of real-world application is making mistakes without having to deal with the repercussions. At least, not in the traditional sense, such as incurring fines or penalties. Employees have the rare opportunity to learn from their errors and evaluate where they went wrong. Then they can seek out additional compliance training support resources to bridge the gap. For example, a simulation helps an employee realize they’ve been missing a step in the sales process that puts them in breach of company policy. Or that they aren’t as prepared for an emergency as they thought.
4. Mitigates Safety Hazards
Another way that compliance training software retains your top performers is by ensuring they’re safe on the job. They know that your company values their well-being because you’re giving them sufficient compliance training. They also know how to handle workplace disasters and prevent accidents that not only impact them but also coworkers and customers. This means you don’t have to foot the bill for workman’s comp and insurance claims. Likewise, employees can rest assured that their peers are prepared for every compliance eventuality instead of worrying about the risks of under-training.
5. Provides Follow-Up And Immediate Online Training Feedback
Employees don’t have to sit around and wait for their instructors to grade certification exams. Or for their superiors to point out compliance violations during the annual review. A compliance training Learning Management System facilitates immediate online training feedback and follow-up recommendations, such as online training tutorials that can help them delve deeper into company policies or compliance issues that tie into work duties. It doesn’t merely brush the surface by highlighting their weaknesses as traditional testing does but it gives them a chance to delve into why they made those mistakes and how to improve upon them.
Discover How A Compliance Training LMS Goes Beyond Fines And Penalties
Download our eBook Mitigating Risks In The Modern Corporate World: Your Guide To Investing In A Compliance Training LMS to learn more about how the right compliance training LMS can help you keep your top performers where they belong. It also shares everything you need to know to choose the ideal software and implement a successful compliance training program, including:
- Ways that underestimating the importance of compliance training negatively impacts your organization and the overlooked benefits it brings to your profit margin
- Insider secrets to launching an effective compliance training program with an LMS and regulatory compliance resources you should add to your new system
- Tips to use compliance training video demos to set a prime example and encourage positive behavioral changes
- How to set a realistic compliance training LMS budget and stick to it so that you can maximize resource allocation
- Common pitfalls that a compliance training platform can help you overcome in order to reduce risks and improve employee engagement
- Tips to develop a compliance training certification course to track performance and hold employees accountable
- How to enforce compliance and motivate staff members through gamified online training experiences
- Features to look for in your new online training software to get the best value for money
Compliance training doesn’t stop once employees are onboarded. Nor does it just cover the basics so that you prevent penalties. A successful compliance strategy takes a holistic approach to provide employees with ongoing support and real-world experience. Get your copy of Mitigating Risks In The Modern Corporate World: Your Guide To Investing In A Compliance Training LMS for tips on how to implement compliance training software and populate it with meaningful resources to retain your top talent, not to mention, to reduce training costs and stretch your budget.