What Is Compliance Training? 6 Overlooked Reasons To Invest In A Compliance Training LMS

Invaluable And Often Overlooked Reasons To Invest In A Compliance Training LMS

What is compliance training? There are lots of different facets to corporate compliance, whether it’s internal or global. There’s social compliance, with covers issues like workplace bullying and sexual harassment. Safety compliance avoids potentially lethal injuries by adjusting behavior and using office facilities correctly. Other regulations arise from legal or industry-wide mandates. Failing to stay compliant can cost millions of dollars in fines. It can also cause injury and loss of life. How does a compliance training LMS reduce risks and make the training process more feasible?

eBook Release: Compliance Training LMS Buyer's Guide
eBook Release
Compliance Training LMS Buyer's Guide
Discover how you can implement a compliance training LMS in your workplace without going over your budget.

1. Mitigates Risks

Because of the way compliance courses are set up, it’s easy to forget their primary purpose. Compliance requirements may seem perfunctory and annoyingly detailed. But their initial "raison d’ être" was for the benefit of you and your customers. It prevents product malfunction, machine damage, bodily injury, psychological harm, or even financial loss. It really is for your own good. Using a compliance training LMS to disseminate training can bring this out more clearly. You design your own content, so you can emphasize the practical advantages. And rather than copy-pasting legal definitions, you can word it in a way that makes sense to employee training participants. They’ll see its relevance more easily and give it the weight it deserves. Plus, built-in reports give you the power to quickly identify personal gaps and bridge them before it’s too late. For example, before an employee tries to incorrectly perform a task that puts everyone at risk.

2. Reduces Seat Time

An external compliance seminar, especially one arranged by a regulatory body, could take weeks. Ordinarily, they’re done in form of workshops and seminars. So, it could be a 3-day thing or a 2-week one. It may even soak up your entire weekends for a month. This takes time away from work and family, which means attendees don’t really want to be there. It creates a ‘get over with it’ attitude which is counter-productive in every sense. By offering training via compliance software, corporate learners have more autonomy regarding study times and locations. This makes them more open to the training experience because it’s built for their convenience.

3. Cuts Down Costs

In the on-site seminar scenario, I’ve mentioned, your staff will take time away from the office. You might have to pay for the course itself. There’s also expense involved in getting them to the venue, providing their meals, and getting them a place to sleep. Not to mention, paying for the instructor and all their travel expenses. The LMS can offer the exact same training material as they sit at their office desks, or their couches at home. That already cuts down the bulk of expenditure. Also, with training workshops, you need a new one every year, or maybe for every new set of employees. With LMS, you buy it once and use it forever. There might be monthly fees or upgrade costs, but they’re still way cheaper than seminars. And with certification reminders, your employees always know when it’s time to refresh their know-how.

4. Maintains Your Reputation

When clients and partners are looking to work with you, they seek references. They’ll try to reach current and former employees and staff. They’ll talk to industry peers to see what your standing really is. Often, they’ll quietly check your credentials, including industry awards, team profiles, accreditation, and compliance status. A compliance training LMS helps you keep all these criteria up to date. You can use it to resolve customer complaints and ask the happy ones to review you. You can receive updates and notifications that remind you to meet compliance deadlines. You can create mini-courses that focus on the most visible aspects of compliance.

5. Facilitates Customized Content

The tricky thing about answering the question ‘what is compliance training?’ is that it’s different for every member of your team. There are some forms of training that are mandatory, and obvious, for everyone. We all need to avoid showing uninvited sexual advances, so harassment training is a given. Fire drills and emergency preparation are must-dos, too. But your location, job title, and experience may demand or occlude certain aspects of compliance. Some employees wear uniforms, so they don’t need guidance on dress-code. The receptionist may need switchboard training, but not payroll practice. LMS lets you design every department’s training journey, right down to the individual. It’s a more effective system, and it’s efficient too.

6. Improves Employee Satisfaction

Employees are more likely to stay with your organization if they know you actually care about their wellbeing. They aren’t just an asset, but a real person with feelings. Investing in a compliance training LMS gives them all the resources they need to reduce risks and stay safe. They also don’t have to worry about breaking the rules and losing face every day. Because your software allows them to make mistakes in a risk-free space and focus on issues that pertain to their job responsibilities.

Nobody really likes compliance training, but we all have to undergo it. How can internal compliance training software make the process less frustrating? The LMS allows you to mitigate risks, cut costs, reduce seat time, and maintain your reputation. You can design personalized content for each individual employee. This increases their job satisfaction because they recognize that they’re learning things they actually need. It makes compliance training feel less like a chore. Thus, they’re more likely to go through and complete it in a meaningful way. This makes LMS a worthy investment.

Have you ever wondered what compliance training is and how you can implement a compliance training LMS in your workplace without going over your budget? Download our eBook Compliance Training LMS Buyer's Guide: Tips To Implement Compliance Training Online With Limited Resources and discover how to cut costs, mitigate risks, train your employees, monitor their performance, and maintain your company’s high standards.

eBook Release: Thinkific
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