A key component to ensuring an organization has confident, knowledgeable employees are by providing the best up to date regulatory training. Governance, risk, and compliance training should be engaging and memorable, allowing your employees to understand and implement what they've been taught.
Why are governance, risk, and compliance training important?
The world of governance, risk, and compliance is ever-changing, across a range of sectors there are diverse and far-reaching regulatory changes, but the most prevalent is for those in the financial services sector. Compliance professionals will tell you the world of regulation and governance is an exciting, fast-paced sector, but it can be hard to get the rest of your employees excited about mandatory compliance training.
For firms in the financial services industry, governance, risk, and compliance legislation are business-critical and with good reason. If you put yourself in the seat of the customer when speaking to a company you want to know your data is being handled and processed correctly, or the representative you're speaking to knows the latest rules and regulations and you'll be safely protected. Apart from the obvious customer benefits of a company being compliant, the penalties for not adhering to regulatory requirements are severe including fines and reputational damage.
How do you change the compliance culture?
It’s not a quick and easy task, unfortunately, you cannot just flip a switch and all your employees start to become as obsessed with the latest piece of compliance training as their favorite episode on Netflix. Changing your employees view on compliance training is about changing a company’s culture, moving from you must learn this, to people wanting to learn, so mandatory training doesn't feel like a tick box exercise.
Once you flip the coin and start thinking about why we have governance, risk, and compliance procedures in place, it’s easy to understand why it’s so important. Translating that importance into engaging your employees in compliance is a slightly different matter. If we look at a snapshot from a typical day, an employee is sitting at their desk doing their day to day job, they've got important deadlines to meet and customers on the phone, all of a sudden they get a notification that it's time to complete their compliance training. They put it off, leaving it until the last possible moment, then rush through the training trying to get to the all-important 'you've completed the training'. Has the employee taken in the training, or were they rushing to the end so they could get back to their job?
How is my training being delivered?
It’s important to really look at the training you are delivering. Is your governance, risk, and compliance training being delivered in a modern way that your employees understand? If your compliance training looks boring and isn't being delivered utilizing up-to-date tools and techniques your employees might perceive it to be boring and ultimately it will be a chore to complete. Have you watched one of your employees complete their compliance training? Are they engaged in what they are learning or are they frantically trying to get through the training as quickly as possible to get it over and done with?
Do you enjoy your governance, risk, and compliance training? If not, you can’t expect anything more from your employees. Wouldn’t it be great if your compliance training was so good, your employees actively sought it out and completed it before being sent multiple reminders. Wouldn’t it be great if they understood and retained the information and could relay this back in real-life scenarios?
All of this is possible. The technology, tools, and techniques are all available, but the change starts with you in your organization – why not be the first step to cultural compliance change in your organization?
Delivering engaging training
The more interesting and memorable you can make compliance training, the more engaged your employees will be. The first step in delivering engaging governance, risk, and compliance training, is to look at your delivery method. The use of eLearning and specifically videos is a great way to captivate the interest of your employees. eLearning videos can deliver a lot of information in a short space of time, meaning your employees are likely to remember and digest the training and it also saves on time and costs.
The next step is to look at the content of the eLearning, using bright, eye-catching colors or images can help in engaging your employees. Making your eLearning accessible through different devices, so your employees can learn on the go or at their desk. The use of storytelling in compliance training works well, as it can translate difficult and dry topics into easy to understand and memorable content.
How can Access Group Training help with Governance, Risk and Compliance eLearning
At Access group Training, we offer a range of engaging eLearning courses that will captivate and motivate your employees to want to learn. Our governance, risk, and compliance eLearning can be delivered in three different ways, either as a stand-alone solution through our ComplianceServe platform, added to our award-winning Access GroupLMS or we can add the library of content to a 3rd party LMS, giving you a range of options to create the perfect solution for your governance, risk and compliance training needs.
To find out about our robust governance, risk, and compliance courses and how they can help you achieve FCA compliance and safeguard your business, try a 14 day free trial of ComplianceServe.
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