Antitrust laws, often referred to as “competition laws” are enforced by the U.S government to ensure fair competition exists in an open market. It is illegal for any organization to participate directly or indirectly in activities leading to price rigging, corporate mergers, and more. So how to make sure your employees are aware of and adhere to these laws? You should have an effective antitrust compliance program in place. This is where technology-based learning comes to the rescue.
Let us look at how to make the 5 steps of an antitrust compliance program more effective using technology-enabled learning
Standards and Procedures
Antitrust compliance includes lots of standards and procedures that companies need to adhere to in order to avoid any breaches. These standards and procedures need to be established properly as the first step of the compliance program. These procedures help organizations detect and prevent criminal conduct.
Putting up posters, infographics, or sharing short videos that impart awareness among employees about the antitrust rules and regulations can lend a hand in the firm establishment of the standards.
Reasonable steps to communicate the program
Once a certain antitrust compliance program is designed, it needs to be communicated properly. Without your employees understanding the need for the program, there would be no use in rolling out the training programs. For this reason, communication through higher officials plays a major role in the antitrust compliance programs.
Technological resources such as videos, podcasts can be used for antitrust compliance communication. Top executives or the corporation’s board should be included in the compliance communication as your employees can better connect to them. Scenario-based learning can be used for this purpose too. For example, mini scenarios can be taken and a board director can be shown explaining those scenarios to the employees.
Gone are the days when off-the-shelf training courses were used to impart antitrust compliance training. This won’t make your training effective. This is where customized e-learning comes to the rescue. A proper, customized e-learning course targeting the needs of your employees needs to be designed. A customized course is more learner-centric, helping your employees understand better.
For example, Foreign Corrupt Policies Act compliance training courses differ based on employee roles – they are more detailed and in-depth for sales executives who directly interact with foreign officials, compared to administrative staff.
Do you have an excellent antitrust training program in place? It isn’t sufficient. The importance of monitoring, tracking your employees’ progress is well known. Among the various compliances to be followed and refreshed, it can get burdensome to do additional monitoring, reporting, tracking, and more. This is where you can take the help of an LMS.
A Learning Management System will not only help in monitoring, tracking the progress of your employees, sending reports to the boards, but will also help in sending reminders and notifications to employees about the refresher antitrust compliance trainings. It also helps in rolling out customized training courses and managing them with ease. Also, MOODLE LMS can also give you the benefit of offline access to your courses.
Designing a good antitrust compliance training program and training your employees once is not sufficient. It is very important to enforce and reinforce the training on a regular basis. For enforcing the antitrust compliance program, various technological methods of delivery can be used, depending on your employees’ needs and preferences, but for reinforcement microlearning can be your best bet. Why?
According to the Ebbinghaus forgetting curve, knowledge learned is lost in less than a month. Making your employees go through the entire course, every month is not only highly impractical but also might increase compliance fatigue and cynicism. Therefore, using microlearning which offers short, stand-alone learning nuggets, on-demand, eases the burden on the organization as well as employees.
Using e-learning methodologies can help you strengthen your antitrust compliance training programs by making your training more learner-centric, reinforcing it, helping in monitoring and reporting.