Many multinational organizations fearing the cost involved, are not effectively implementing compliance activities (a major component of which is training). As a result of which, they end up in paying huge penalties.
In recent years OSHA has collected 200 million dollars as fines from the major organizations, due to non-compliance. Not only OSHA, there are many other entities, which can impose penalties over the organizations that are out of compliance.
What should companies do to reduce the cost of non-compliance?
As per research reports, there are four major consequences faced by organizations for non-compliance.
Out of these, Business disruption is the costliest outcome of non-compliance, whereas Productivity loss, Revenue loss, fines, penalties and others represent relatively less costly consequences. Non-compliance costs affect organizations, as they often necessitate their employees to deal with compliance failure issues, rather than just performing their regular duties.
The research also states that organizations that invest more in compliance activities experience, in which training is the main activity, less negative cost of non-compliance.
How can organizations deliver an effective compliance training?
You have various options to deliver effective corporate compliance training:
1. Classroom training: Classroom instruction is an option, but involves in related travel expenses for instructors and learners.
2. Off-the-shelf: Its relatively inexpensive, but is not customized to your organizational compliance requirements.
3. Customized courses: This is the best option an organization can invest, to provide an online trainings for their employees. This allows you to tailor the instructions, according to audience requirements. It also makes your compliance training interesting and engaging to your users, by including real world scenarios your company might have faced. This training can also be customized in order to deliver it on various mobile devices.
4. Blended training: Many experts believe that this is the best way to deliver the compliance trainings, throughout the organization. Basically, it helps to deliver the basic information that the employees need to know via online training and cover complex topics via instructor led training. Comparatively, the cost tends to be higher, but offers superior quality to off-the-shelf.
As per a survey conducted by ASTD, 81 percent of the organisations believe that compliance training is best suited for virtual environment. So we can say that of all approaches, eLearning and blended training helps effectively reduce the cost of training, without compromising on quality.
Please do share your thoughts!