Compliance Training Courses
Help employees recognize and deal with real-world issues through our compliance training. Customized courses cover topics such as anti-money laundering, diversity, sensitivity, and HIPAA.
What is compliance training?
Employee compliance training is an essential prerequisite to any organization’s risk management, governance and compliance initiatives. Ensuring that employees understand and adhere to the laws, regulations and internal corporate policies that apply to their daily roles is essential to ensuring that compliance regulations are met in the workplace.
Many legal problems originate from employees acting improperly out of ignorance, misunderstanding, or a blatant disrespect of the laws, regulations, and policies that govern their daily job responsibilities. Many of these problems can be avoided — or at least mitigated — through compliance training.
The key objectives of Thomson Reuters online compliance learning is to:
- Ensure that employees are aware of their compliance responsibilities
- Mitigate the risk of compliance breaches
- Encourage a better workplace culture
- Remove legal liability from the organization in the event of wrongdoing
- Protect the organization’s reputation.
Creating knowledgeable, productive employees
Research has shown that employees who receive compliance training are more productive, have lower turnover rates, are more efficient, and need less supervision.
While most employees will have an understanding of the types of workplace conduct that are obviously improper, many legal and policy requirements are not obvious or may run counter to some employees' social or cultural norms. Likewise, there are many subtleties in the laws related to anti-competitive conduct, data privacy, insider trading, and similar workplace issues that go beyond a common-sense understanding.
Requiring all employees to receive training regularly on their compliance responsibilities gives everyone an active role in creating and maintaining a productive, ethical, and respectful workplace.
Good ethics is good business
An organization's commitment to the specifics of its own compliance program and training plan can yield meaningful benefits. One study found that every extra dollar allocated to an organization's compliance budget "decreased damages, settlements and fines by $1.37" on average. Another found that organizations investing an above-average amount on training would have returned 45% more than the S&P 500 index during the period studied.
Active enforcement of a compliance training plan could well determine how – or whether – law-enforcement authorities pursue a claim of wrongdoing against the organization and/or its officers and employees.
The changing landscape of compliance training
Establishing a compliance training culture in today’s environment means dealing with ever-changing regulatory requirements, greater scrutiny from regulatory bodies, an increasingly mobile workforce, and shrinking developmental budgets.
With regulators citing lack of training and understanding as reasons behind compliance failings, organizations are under increasing pressure to deliver accurate, engaging, and cost-effective training, while also demonstrating understanding and completion.
This whitepaper explores how compliance affects corporate culture for the better.
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Customized online compliance training from Thomson Reuters, designed to fit your organization’s unique needs, and including anti-money laundering, diversity, sensitivity, and HIPAA courses.
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