6 Cost-Effective COI Compliance Sales Online Training Techniques

6 Cost-Effective COI Compliance Sales Online Training Techniques
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Summary: COI breaches come in many forms, not just outright bribes from deceitful clients. How can you prep your sales team for ethical dilemmas without going over the L&D budget?

Budget-Friendly COI Compliance Sales Online Training Techniques

Most of us think of client gifts or money sneakily changing hands when the topic of COI comes up. We assume it’s always dubious and easily recognizable. However, the most damaging breaches are subtler. Employees may not even realize their violating company policy because the conflict of interest is veiled. Or they simply lack the proper training. For this reason, every member of the sales department needs support tools to mitigate risks. To help them keep their professional image intact, as well as your brand’s reputation. Here are 6 cost-effective COI compliance sales online training techniques to consider for your program.

eBook Release: Skyrocket Sales On A Global Scale: How To Launch A Successful Sales Online Training Program In Your Organization
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Skyrocket Sales On A Global Scale: How To Launch A Successful Sales Online Training Program In Your Organization
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1. Branching Scenarios With Moral Dilemmas

COI policies usually involve ethical conundrums. Will accepting this gift compromise the employee’s good reputation? How will it reflect on the organization? Incorporate branching scenarios that highlight the morality behind conflict of interest and drive the point home. Employees see how their decisions and behaviors impact every aspect of the sales transaction. And even have a far-reaching effect after they seal the deal. For example, the client continues to offer gifts in exchange for special treatment because they’ve set a precedence. Branching scenarios can be as interactive as you want them to be. Complete with embedded video clips, extensive branches, and a broad spectrum of outcomes. Or you can opt for bite-size scenarios that are less high-tech to cut costs.

2. Live Events To Prompt Open Discussion

Host special online events for your sales team to give them a forum and allow them to clarify COI confusion. There is one caveat to compliance online training live events. There must be some degree of immunity or anonymity to get people to open up. They probably won’t share mistakes they’ve made in the past if it leads to negative consequences. For instance, their manager learns about the indiscretion and makes a note in their permanent record. Or they share a story they heard from a co-worker/friend and get them in hot water. So, ask employees to anonymously send anecdotes or examples beforehand. Warn them that what they say might get them in trouble, especially if it’s a serious infraction that warrants immediate attention.

3. eLearning Infographic Knowledge Refreshers

Outline the most significant COI risks for every job position and develop an eLearning infographic to refresh employees’ memory. Most of your team members want to play by the rules and maintain company standards. They simply forget the subtler aspects of COI compliance. For example, what really constitutes a gift? What should they do if a family member or friend approaches them to ask for a discount? eLearning infographics help them keep their reputation intact by mapping out all the compliance guidelines. Everything they need to know is on a single screen/page. You can also include links to follow-up online training resources. Such as demo videos or simulations that facilitate real-world application.

4. Personal Anecdotes That Highlight Covert COI Breaches

As I mentioned earlier, some COI issues are more nuanced than others. Thus, employees may not be able to tell if they’re violating company policy during a client meeting. However, personal anecdotes delve deeper into the less obvious COI breaches. The situations that might blur the line and put their jobs in peril, even if they had the best of intentions. Share stories that cover a broad compliance spectrum. Include different personas and COI circumstances so that employees learn how to detect potential risks. This also helps them form an emotional connection so that they assign meaning. Their minds flag these memorable stories because they evoke feeling and relatability. Which makes it easier to actively recall the information when it truly matters.

5. Video Demos That Showcase Real-World Violations

Another way to illustrate the point is to produce demo videos that show COI violations in action. Invite employees to reenact situations they’ve experienced or use animation software. An alternate route is to hire an outsourcing partner to produce demo videos for compliance sales online training. They can help you improve practical application on a tight timeframe. There may even be videos online you can incorporate into your online training strategy. For example, clips on video-sharing platforms that highlight the most common COI errors.

6. Do/Don’t Tutorials

One of the most effective compliance sales online training techniques is a 2-part tutorial. Break the video or task walkthrough into 2 sections that reinforce or correct bad habits. The first highlights the right way to implement a company policy or handle a COI situation. The second shows employees everything that can go wrong. Every misstep or poor decision that leads to compliance violations. After the tutorial, ask them to reflect on the scenario. Have they encountered similar obstacles in the past? How did they respond and what might they do differently? Invite them to identify all the errors in the second scene. How did the virtual employee break the rules and what were their possible motivations? How will their choices impact the company?

COI compliance is one of the most crucial online training topics for your sales team because it lays an ethical foundation. Every task, customer service interaction, and product pitch must uphold the integrity of your organization. You also have to bear in mind that breaches become a force of habit. If they bend the rules once, they’re more likely to keep up the trend and tarnish your brand image. These compliance online sales training techniques foster practical application and reinforce their knowledge. They also create a personal connection and explore the many nuances of COI breaches so that employees avoid common mistakes.

As a general rule, your sales team should be well-rounded. Is a new sales online training course worth the investment? Download the eBook Skyrocket Sales On A Global Scale: How To Launch A Successful Sales Online Training Program In Your Organization and get to know how to launch, enhance and retain successful programs in your organization.