Corporate compliance training is a vital function for growing enterprises. According to 2023 data, 80% of compliance professionals agreed that their organization views risk and compliance as valuable business functions.
But staying up to date with evolving regulations and adjusting training content accordingly isn’t what we’d call a “quick update.” It requires tools and processes that standardize training at scale while personalizing for individual roles.
In this guide, we’re explaining the basics of compliance eLearning from its value and types to how an enterprise learning management system (LMS) can support you.
Why is corporate compliance training important?
Failing to comply with regulations can have serious consequences. For example, organizations can face hefty fines, reputational damage, and even significant legal consequences. Equally, if not more important, non-compliance stemming from employee behavior can negatively impact organizations and increase risks of fraud, data breaches, or other unethical practices.
What are the main objectives of a corporate compliance training program?
At its core, a corporate compliance training program ensures all employees receive consistent training on compliance topics. Depending on your industry, role, or geographic region, this can vary significantly across organizations.
Beyond this, other primary objectives of corporate training include:
- Risk mitigation: Educating employees on spotting potential violations and misconduct helps organizations lessen compliance risks.
- Employee engagement: Traditionally, compliance training has been seen as dry, but it doesn’t have to be. Delivering compliance training that’s engaging and relevant to employees’ roles helps them learn faster and better.
- Behavioral shifts: Emphasizing training that encourages ethical decision-making will only benefit your organization. It creates an environment where employees are armed with the knowledge of critical regulations and motivated to make the right decisions.
What are the different types of corporate compliance training?
An all-encompassing list of compliance training would be never-ending. Compliance requirements differ dramatically depending on your enterprise’s sector, location, and needs. Here are some of the most common types with examples:
General employee compliance training
These are examples of different categories within corporate compliance training. If you hear “compliance training,” one of the types listed below will likely come to mind.
- Cybersecurity and data privacy: Trains employees on safeguarding sensitive information, including using strong passwords, recognizing phishing attempts, and avoiding data breaches.
- Discrimination and anti-harassment: Educates employees on different forms of discrimination and how to identify discriminatory behavior based on protected characteristics like gender, disability, or race.
- Ethics and business conduct: Often as part of the onboarding process, companies teach new hires about the organization’s code of conduct including ethical principles and potential consequences.
- Cultural policies: Particularly for global companies, cultural policies teach individuals about societal differences and how to interact respectfully.
- Workplace safety: More common for in-office teams, workplace safety trains employees on emergency procedures like fire drills or spotting workplace hazards.
- Anti-bribery and corruption: Education on bribery, corruption, and other unethical employee practices.
Industry compliance certifications
These types of regulatory compliance certifications are mandatory for specific industries. Many enterprises have annual internal or external audits to ensure compliance with standards like these.
- Healthcare: According to Health Insurance Portability and Accountability Act (HIPAA) regulations, healthcare professionals must be trained and held accountable to protect patient information.
- Financial services: Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures are carried out by banks to prevent financial crime.
- Manufacturing: Occupational Safety and Health Administration (OSHA) regulations ensure companies implement worker safety standards.
- Hospitality: Hotel staff learns and complies with the Americans with Disabilities Act (ADA), which are regulations that support an inclusive environment for guests.
- Technology: Data security is important in every industry, but especially software. Cybersecurity compliance training teaches employees how to identify and report cyber threats.
Geographic compliance requirements
Regulations can (and often do) vary across countries. Global organizations must take careful measures to meet compliance certifications where they’re actively operating.
- United States: Relevant regulation training on the Sarbanes-Oxley Act (SOX) and the Dodd-Frank Wall Street Reform are mandatory for financial reporting and protection.
- European Union: The General Data Protection Regulation (GDPR) is an essential regulatory training for handling and protecting the personal data of EU citizens.
- Australia: The Australian Privacy Act educates teams on protecting and handling personal information.
Company-specific training and compliance
Beyond external regulations, companies might also have specific standards for their employees. These can vary based on the business’ stage or product features.
- Conflicts of interest: Introduces employees and leaders to recognize and avoid potential conflicts of interest in the workplace. Topics like kickbacks, gifts, or favors are often covered.
- Intellectual property: Compliance training on intellectual property helps individuals understand the legal nuances around patents, trademarks, or copyrights.
Examples of compliance training programs
Making compliance training easy and effective starts with delivering content relevant to user’s roles. Here are examples of how your compliance training can be catered to varying audiences:
Employee compliance training
The most common audience for compliance training is your internal employees. You’ll likely have generic training that your entire organization must take. However, you’ll also have compliance topics relevant to different roles. For example, a sales team might require training on anti-bribery and corruption, while a finance team needs in-depth knowledge of financial regulations.
Partner compliance training
Many companies have external partners like contractors or distributors supporting their services. Compliance training for partners is a way to ensure seamless collaboration and mitigate risks for both parties. It allows you to explain the legal framework your company operates under, as well as how their actions should align with your regulatory requirements.
Supplier compliance training
Providing compliance training for suppliers is a vital part of your organization's compliance strategy. It demonstrates your compliance expectations and explains how your suppliers’ operations can impact your risk profile. Some common regulatory focal points are ethical sourcing, quality standards, and environmental sustainability.
How to launch a successful corporate compliance training program
Implementing a corporate compliance program isn’t an option for organizations – it’s a necessity. But what does a successful program look like? It’s simply one that works seamlessly. One that your compliance team knows learners will complete and that they can track. Above all, it’ll mitigate risk for your organization.
In practice, here are the key steps to roll out your program:
- Identify your risks: Based on industry, location, and company, research your organization’s compliance risks and determine your training needs.
- Set clear goals: Define objectives for your training program. Do you want to reduce phishing attempts by 10%? Or boost employee awareness of GDPR by 30%? Set trackable goals.
- Create training content: To keep your learners engaged (we know, compliance training isn’t a party), think beyond outdated slide decks. Design training modules with interactive quizzes and videos to boost retention.
- Choose a delivery method: Compliance training online through a learning management system (LMS) is the easier option from a tracking standpoint, but perhaps you want to incorporate an in-person element for a blended approach. Think about what delivery method will work for your teams.
- Roll out your LMS: Delivering comprehensive training starts with your LMS, so choose one that aligns with your needs. For instance, an AI-powered LMS is a good option for companies that need to personalize compliance training for different roles and teams. Once you’ve selected your LMS, pilot it to a small group then launch company-wide.
- Promote internally: Lean into internal communications channels to notify employees about the training. Emphasize your program’s accessibility and convenience to get buy-in from teams.
- Set automated reminders: Set up your LMS to send notifications to ensure individuals complete mandatory training on time.
How to measure your corporate compliance training program
Did you think we were done after the launch? Bad news: the work isn’t over. Good news: your LMS will do the heavy lifting for you when it comes time for tracking and reporting.
Here are some of the key metrics to track:
- Completion rates: Measure the percentage of users who complete the assigned compliance training online. FYI: Absorb LMS allows you to monitor progress and compliance status in real time.
- Knowledge assessment: Conduct a knowledge assessment before training and after to gauge understanding.
- Employee engagement: Request employee feedback on the training format, delivery, and content so you can improve.
- Workforce changes: Monitor violations of specific issues and see if compliance eLearning lowers incidents within your organization.
How to stay audit ready
Getting ahead of audits and staying prepared isn’t a one-time act, it’s a continuous process. But what does audit prep entail? You need to do a few things as an organization (with the help of an LMS) to deliver 100% compliance.
First and foremost, you must ensure your training materials cover all necessary compliance topics. This includes topics mandated by your industry’s regulations and company’s internal policies. And as regulations change, use your LMS to update training as needed.
Additionally, detailed records are a necessity. Choose an LMS that tracks training completion including scores and dates. Accurate records stored in your LMS will be a relief if auditors request access to your online compliance training.
Lastly, automated reminders ensure everyone stays current on required training without manual enrollments. Autogenerated notifications sent through your LMS keep learners informed of upcoming training and compliance deadlines. Similarly, automated enrollments ensure teams are signed up for regulatory compliance certifications without your HR team having to lift a finger.
Why is a corporate compliance training LMS needed for mandatory training?
With different compliance requirements for industries and roles, juggling all the moving parts is overwhelming. And maintaining compliance within your organization can often feel like a hindrance to growing and focusing on strategic objectives.
Online compliance training delivered through an LMS combats historically cumbersome processes by streamlining regulatory training through a centralized platform.
Below are some of the clear benefits of using a compliance training LMS:
- Reporting: Track real-time learner progress and completion rates with personalized and pre-built reports. For example, Absorb Analyze is pre-configured to track your compliance program statuses for audits.
- Courses: Using an AI-powered LMS, you can build, update, and launch courses in minutes instead of days. Simple tools also make it easy for you to change content as regulations shift. Plus, online courses allow learners to take training at their convenience through compliance microlearning courses. Flexible, on-the-go courses are also hugely beneficial for remote teams.
- Certifications: Say goodbye to expired or outdated certifications. Using an LMS, you can automate workflows to keep your staff updated on training without the manual administrative effort. Absorb LMS is also proven to boost course completion rates for enterprises. According to findings from the recent Total Economic Impact™ study commissioned by Absorb, a composite organization representative of interviewed customers was shown to have 12% higher completion rates of compliance training.
- Integrations: Integrate compliance course data with your HR platform to accurately reflect training status and certification renewals.
Learning beyond compliance
Compliance training is more than checking a box. It’s the foundation of a profitable organization and a high-functioning workforce. By giving your teams and partners the knowledge to work through complex compliance issues, you pave the way for an ethical and risk-averse culture that values learning.
Learning and development go beyond compliance. For example, do you need to hone the skills of your sales team? An LMS can deliver specialized sales training. Or do you need to reduce onboarding time? An LMS can integrate new hires quickly, turning them into productive members of your company. Our goal is to empower you with an AI-powered LMS to support every one of your organization’s learning needs.
Back to the heart of the topic – how do you create a culture of learning that values compliance? See how your organization can stay true to its mission while creating a compliant corporate learning environment.
