Why is compliance important?
Compliance, at its root, is the process of making sure you are following the laws, regulations, standards and ethical practices that apply to your business. In the worst case scenario, not keeping up with these requirements can result in incidents and injuries that cost the lives of employees, customers or even bystanders.
Ensuring you comply with rules and regulations can also help your business avoid fines and legal action, which can be extremely costly. To give just one example, under the EU’s new General Data Protection Regulation (GDPR) the maximum penalty for non-compliance is £17 million, or 4% of your organisation’s annual turnover, whichever is higher. The consequences of non-compliance can reach even further. You only have to cast your mind back to thediesel emissions scandal for an idea of the reputational damage it can cause, particularly in the realms of quality, safety and corporate social responsibility.
On a more positive note, compliance sets expectations for staff behaviour, maintains focus on your wider business goals and helps operations run smoothly. In an age when organisations are increasingly judged on their social value, compliance helps establish positive relationships not only with regulatory bodies but with customers, employees and other stakeholders. It also builds trust and credibility as well as customer loyalty. Ultimately, the benefits of compliance far outweigh any costs.
How can you ensure you and your extended enterprise remain compliant?
It’s essential that the relevant people within your business are not only aware of compliance demands, but are empowered to manage them, with the technology to do so effectively. Learning technology can ensure accountability across your extended enterprise, putting systems in place to allow you to manage compliance risks throughout your value chain and aiding audit and inspection readiness.
Instilling a culture of risk agility – as opposed to risk aversion – can also help your business to stay compliant. In practice, this means educating employees and providing them with the tools to better manage compliance risk. Learning technology can fulfil both remits, hosting training and providing a means to track completion rates as well as individuals’ progress.
The most important point to remember is that it’s an ongoing process and not one that is ever going to be complete. Laws and regulations change all the time, products and services you offer change, and there’s always room for improvement in systems and practices. Continuous learning and development is key.
How can Redware’s Empowered LMS help?
Through Empowered, the leading automotive Learning Management System (LMS), everyone from your suppliers to on- and off-site employees can be provided compliance training as and when it’s needed. The system is cloud-based so users can access learning content quickly and easily from their own device, without compromising security.
Comprehensive analytics dashboards let you monitor learners’ progressready for auditing, while managers are able to view all training records in one place and ensure all staff meet your compliance deadlines. For example, dealerships can manage a range of Dealer Standards compliance factors, including training deadlines and staffing levels within Empowered.
If necessary, Empowered enables you to introduce certificationsfor key compliance courses, with the ability to create a series of modules that require mandatory completion or a set pass mark before learners can move forwards. These certifications can include deadlines, for example if they need to be completed annually, or can have no time-limit. Empowered also allows you to change courses within certifications if needed, and the system will notify all learners who hold the certification that they will need to complete the relevant course to regain their new certificate.
Courses can be delivered only to specific groups of learners who need to be aware of certain requirements, and content can be targeted at certain markets and delivered in their own language to ensure compliance with local legislation. With a system and bespoke functionality tailored to your needs, Empowered can help to ensure your business meets all of its compliance demands.