Today most of the pharmaceutical organizations across the world work in a highly regulated environment. Be it small or large, companies have to comply in different areas ranging from its product operations to quality. Thus, there is a huge demand to meet the compliance functions and at the same time, there are risks associated with failing to meet these compliance demands. Some organizations might have a dedicated legal or compliance team to look after these requirements, while others might have to outsource other services. So, it is a costly affair and these organizations have no other options than to bear this cost. If they do not pay any heed to these regulatory bodies, in the near future, they are at a BIG risk to pay a hefty penalty for that.
What are the Main Reasons behind Compliance Outsourcing?
There are many reasons that act as drivers to compliance outsourcing for a pharmaceutical organization:
- Complex nature of regulations
- Low or substandard compliance process
- High operating costs
So, after reading all this, it is clear that, your employees should be fully aware of the compliance laws and regulations. So, what is the best solution that can keep your employees well informed?
E-Learning is the Key
With regulatory bodies such as FDA (Food and Drug administration), companies need to be aware of their regulations. E-learning is an effective method that an organization can use to ensure their staffs are aware of the regulations. They should abide by the rules and regulations and make their product compliant to the specific norms. For example, any new food or drug before it makes it entry to the market should comply with FDA regulations.
How does E-Learning Help an Organization to Achieve its Compliance Standards?
With e-learning, it can be ensured that the training is consistent in terms of content. We can train employees on any new regulations and it can be made accessible to all employees. Even for a distributed workforce, there is a flexibility of learning, that is, learning can happen any time and at any place. We can track the understanding through test. So, these are generic benefits. Now, let us look at some specific benefits.
E-learning helps to understand and follow GMP (Good Manufacturing Practice). Self-paced or byte-sized e-learning modules can supplement the training on manufacturing processes. It also enables to comprehend the guidelines and case studies that provide the scope to learn through practice. The same is the case of understanding Good Laboratory Practices. E-learning with scenarios or explore-and-learn instructional strategy gives an understanding of the do’s and don’ts to be followed.
E-learning also equips employees with adequate knowledge on legislations on IPR or Intellectual Property Rights. Various case studies help in understanding the concept better and consequences of non-adhering to rules and regulations. Check this eBook to know more about designing an effective compliance training
Thus, providing e-Learning services for compliance training to a pharmaceutical organization can increase the efficiency of its employees, make themcompliant and thus lower the risk of the organization getting slapped with a hefty penalty.
How does E-learning Increase the ROI in a Pharmaceutical Organization?
Now, coming to the ROI part, e-learning has a great role to play. Say, if any pharmaceutical organization were to develop a cost-effective e-learning course that covered the major compliance regulations, the most daunting task would be to ensure that the course can be tracked on the LMS (Learning Management System) such that the management will be able to keep track of the course completion rates of its employees.
Use of effective authoring tools such as Articulate Storyline makes the job simple. We can easily develop an e-learning quickly and cost effectively in a more engaging way. You can add on-screen elements and professional narration, graphics and animation to make the entire course interesting. It is equally important to embed assessment using Articulate Quiz maker.
Now, if you compare the ratio of investment made on e-Learning to the benefit it offers, the figure can be mind-blowing. Here is a simple case study from the Articulate.com blog: “Wyeth’s pharmaceutical E-Learning Boasts of a 500% ROI. The total investment resulted in a benefit-cost ratio of 8:1 and an ROI analysis yielded a 500% result on the training investment/deployment over traditional delivery methods, according to Wells. Most importantly, the great success of the course rollout validated rapid e-learning development at Wyeth and dramatically increased its use.”
This simple case study explains the essence of deploying e-Learning and how it can offer mammoth benefits.
Thus, to summarize, e-learning serves a twofold purpose that helps an organization to mitigate its compliance risk and at the same time increase its return on investment.
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