As the world gets smaller and corporations grow their global markets, it gets increasingly difficult to keep abreast of all the laws that regulate trade and employee practices. Misconduct and noncompliance can put your company at risk for enforcement actions. Here are just two areas you need to cover as a responsible employer and company executive:
- Data privacy
Facebook and Google’s inadequate user data protection led to FTC interference and subsequent settlements. Soon the health care and financial industries will need to have protections in place.
- Insider trading
Who will soon forget the scandal involving Goldman Sachs, the trials and ensuing punishments of those involved?
- Education. Customized training programs that take into account the systems already in place
- Leadership. Management that role models compliance and appropriate behavior
- Reviews. Ongoing audits of compliance…where the company measures up, where there is risk and where employees are unaware of appropriate behavior and consequences
- Current. Training (at least annually) to keep abreast of new corporate regulations and instill respect across the board in the workplace
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