Why is Compliance Training Important? And How Can an LMS Help?
Compliance training may not be the most exciting activity, but it is essential for every company. From OSHA to HIPAA, there are various regulations that must be followed to prevent fines and maintain the trust of stakeholders. In this guide, we will explain what compliance training is, why it is necessary, and its numerous benefits for your organization, employees, and other stakeholders. Instead of viewing compliance training as a chore, let’s explore how it can add value to your business. Let’s dive in and make compliance training more engaging and enjoyable!
What is Compliance Training?
Compliance training is a necessary component of employee training that ensures employees are aware of and adhere to the laws, regulations, and policies that govern their industry and the company they work for. The two main types of compliance training are regulatory compliance, which focuses on mandatory regulations specific to the industry, and corporate compliance, which includes company policies and procedures that enable safe and efficient operations. Compliance training is often delivered through eLearning platforms, using interactive tools such as gamification and simulations to engage learners and reinforce knowledge retention. Companies typically track and manage compliance training through a Learning Management System to ensure completion and monitor training activities. Compliance training is crucial for organizations to meet legal requirements, mitigate risks, and maintain a strong ethical and compliant culture.
Why is Compliance Training Important?
Companies that fail to comply with regulations often find themselves facing costly fines and damage to their reputation. This can be avoided by investing in comprehensive compliance training programs. By allocating resources to training, companies can reduce their financial risk and mitigate potential fines, damages, and settlements. Furthermore, employees who receive effective compliance training are more productive and engaged, which ultimately benefits the organization. Ultimately, prioritizing compliance training helps maintain a positive reputation for the company and avoids the negative consequences associated with regulatory non-compliance.
Let’s explore why compliance training is crucial by delving into its key areas of importance and benefits.
1. Fostering a Safe and Respectful Workplace Environment
Cultivating a workplace environment that is free from violence, harassment, and bullying is essential for creating a positive and inclusive company culture. Implementing comprehensive anti-harassment training is crucial to educate employees about appropriate behavior and to address issues such as harassment, bullying, and sexual harassment. Additionally, it is important to establish clear workplace policies and a code of conduct that explicitly prohibit bullying, discrimination, and harassment. To further promote fairness and equality, consider incorporating unconscious bias training into your mandatory corporate training programs. By prioritizing compliance training, you can significantly reduce the occurrence of inappropriate behaviours, bullying, and discrimination in the workplace while mitigating potential legal risks.
2. Establish workplace safety
Ensuring the safety of employees should be a top priority for any organization. Governments recognize this importance, which is why regulatory bodies such as the Occupational Safety and Health Administration (OSHA) exist to enforce workplace safety standards. Implementing comprehensive compliance training programs is crucial in maintaining a safe working environment. The content of such training programs may vary depending on the industry or department. For example, construction and manufacturing companies may need to train employees on fall protection, ladder safety, and machine guarding, while healthcare organizations may focus on topics like handling airborne pathogens and proper needle disposal. By providing employees with the necessary compliance training, companies not only mitigate the risk of accidents and injuries, but also foster a culture of safety, instilling confidence and engagement amongst their workforce.
3. Minimize absenteeism caused by injuries in the workplace
Workplace injuries leading to absenteeism have significant consequences, particularly within the manufacturing sector. To address this concern, it is crucial to prioritize proper adherence to safety protocols through comprehensive regulatory compliance training. By incorporating effective compliance programs, employees can learn how to mitigate the risk of injury and identify potential hazards. Enhancing corporate compliance training can contribute to the overall goal of creating a safer and healthier work environment. Many organizations opt to include workplace safety training as part of their employee onboarding process, ensuring that new employees are equipped with the knowledge to prioritize their safety and prevent injuries.
4. Diminish Legal Risks Through Compliance Training
To mitigate legal risks, every company must prioritize compliance training. This training not only reduces the likelihood of fines from regulatory agencies but also helps prevent incidents of sexual harassment and workplace violence. Moreover, in the unfortunate event that such incidents occur, having a comprehensive employee training program in place can shift the legal burden onto the individuals responsible. Creating an audit trail is crucial for both regulatory and corporate compliance. This trail should clearly demonstrate that the company mandates compliance training and that employees successfully complete it. Employing a Learning Management System (LMS), like SkyPrep, is an effective way to manage and track this process. SkyPrep’s LMS reports allow HR and L&D teams to ensure all employees are up-to-date on their mandatory training. Additionally, the custom reporting feature enables identification of knowledge gaps, facilitating efficient solutions. By prioritizing compliance training and utilizing robust tracking systems, companies can reduce legal risks and safeguard their reputation.
5. Enhance employee well-being and effectiveness
In today’s workplace, it is common to prioritize employee satisfaction and engagement through attractive perks and benefits. However, it is important to address the fundamental aspects of safety, security, anti-harassment, and ethics regulations before focusing on additional offerings. Without a foundation of a secure and supportive work environment, employees cannot truly feel content and motivated. By ensuring their well-being and effectively addressing these concerns, employers can create a conducive atmosphere that promotes productivity and engagement.
6. Ensuring the Secure Collection and Storage of Information
It is imperative for organizations to prioritize information security training in today’s digital landscape. As such, it becomes the responsibility of your organization to provide comprehensive data protection training to your employees and ensure compliance with relevant industry regulations. For healthcare companies operating in the United States, adherence to the Health Insurance Portability and Accountability Act (HIPAA) is of utmost importance. HIPAA introduces a complex framework of regulations, with severe penalties for non-compliance. To mitigate these risks, your employees must be well-versed in the protocols governing the handling of customer data. By implementing robust training programs, your organization can guarantee secure and compliant information collection and storage practices.
Looking to Enhance Compliance Training? SkyPrep Can Help!
Compliance training may not be the flashiest or most exciting aspect of your company’s operations, but its importance cannot be overstated. Failing to comply with regulations can expose your organization to legal repercussions and hefty penalties. Moreover, compliance training ensures that employees and stakeholders are equipped with the knowledge of relevant laws, regulations, and company policies. By implementing a powerful learning management system (LMS) like SkyPrep, you can streamline and manage compliance training effectively, minimizing risks in your business. SkyPrep enables you to deliver and track mandatory training effortlessly, promoting a safe and confident workplace.