Is Your Compliance Program On Target? 3 Current Trends to Consider

There is no question that compliance has become a huge issue in the last ten years or so. With so many new regulations along with so many companies wanting to expand their markets in new directions (and thus in new jurisdictions), compliance has almost become an industry in and of itself.

A lot of corporations now have internal dedicated staff and corporate compliance training is required on a regular basis.

The field has grown and matured. Check these noticeable trends to see that your program is up to date and moving in the right direction.

1. Investments are Industry Driven. The size of dedicated staff and budget is determined mostly by industry…insurance, financial services, pharmaceutical and biotech traditionally spend the most. How do your investments compare to your peers? What is the return on those investments in terms of key people metrics like speed to productivity, employee engagement, top talent attrition, employee retention, human capital value added, revenue per employee, performance, tenure, absenteeism Bradford factor, employee relations issues/ law suits, and salary competitiveness ratio?
   
   
2. More Corporate Compliance Officers are Getting a Seat at the Table. The CEB reported a 10% increase of companies where the senior compliance officer reported directly to the CEO. How important is compliance to your executive team? To your talent strategy? To your corporate culture? Is the right leadership in place?
   
   
3. Pressure to Measure Compliance Effectiveness is Growing. Just like every other important business investment, expectations of value-add for compliance are growing. Program effectiveness is not simply tested by following the “rules” or delivering mandated compliance training - but measured in terms of legal costs, employee relations issues, employee engagement, commitment and understanding of a respectful workplace that aligns with the corporate culture and talent strategy. How are you measuring the effectiveness of your compliance efforts? Does it align with the overall corporate strategy?
   

Learn more at: http://www.lsaglobal.com/corporate-compliance-training/