“It takes less time to do things right than to explain why you did it wrong.” Henry Wadsworth Longfellow
Over the years, compliance training has become prominent for companies. It’s because organizations have to make employees recall their training for which it has to be shifted to the online mode and held several times during a year through various modes like webinars, podcasts, etc. In offline training, the employees tend to forget everything within a year.
Hence, when employees are provided with a compliance training calendar, they keep in sync with the ongoing training process.
Why a calendar?
Because compliance laws get changed all the time:
The companies should take measures to ensure that the employees are informed of the compliance laws as soon as they are updated. The language of such an explanation should be understandable by employees. A training calendar can be decided based on the availability of employees and trainers. With the changes in compliance rules, having a pre-decided training schedule can’t be helpful because sometimes ad-hoc sessions are needed. So, having a calendar adds spontaneity to the schedule.
After an internal or an external audit happens:
Sometimes a company can get insights into how it’s performing as far as compliance laws are concerned because an audit might have been conducted due to which an emergency training session is required. A compliance audit happens through an auditor who needs to check company records. The auditor can also ask for the company employee and management to answer auditing questionnaires. An organization can schedule an audit itself if it’s internal by contacting an auditor. It’s generally done to determine whether the company’s employees are following all the checklists issued for compliance to them. So, such audits are conducted by a company’s discretion as and when it deems them a requirement. They can be preplanned at the beginning of a year and included in an audit calendar. For example, financial audits happen once in a year for every publicly listed company, but they can also happen unplanned, for example when someone files a complaint against the financial misconduct by a company. For example, shareholders can criticize that they are not being shown the financial statements prepared as per GAAP standards.
Why is a compliance calendar necessary?
The practitioners of such compliance training may find it difficult to prove to the C-suite that is the CEO, CFO, CTO, etc. about the value of the calendar. It’s because they can’t understand why the training needs to be a continuous process. That’s when the compliance training advocates need to show why making compliance an all-the-year event will be helpful.
For the C-suite, having compliance training as an annual event is costly enough and when it’s done throughout the year, the company budgets explode.
But having multiple compliance activities is useful because sometimes some employees might not find some methods of training useful. For example, they might need other training formats apart from offline compliance training.
For them, videos might be an effective way of learning rather than webinars. So, for such employees, it’s better, that when a new law comes into force, its videos are emailed to them which also showcase the results of noncompliance. The vendors of the company also require such training videos. These videos are a part of micro-learning where users are delivered 5-8 minutes nuggets for them to grasp information easily.