Addressing & Alleviating Top Compliance Training Challenges & Barriers

More than half (56 percent) of the respondents to the NAVEX Global 2014 Ethics & Compliance Training Benchmark Survey revealed that their top ethics and compliance training concern today is the limited hours available for training their stakeholders. A close second (54 percent) is measuring the effectiveness of training programs, and the third among top challenges is not enough budget (42 percent).

Better Measurement, New Strategies Will Help Alleviate Top Concerns

Dealing with the constraints and challenges of time, money and measurement are perpetual difficulties for ethics and compliance professionals. The pressure to increase effectiveness despite these challenges has increased as programs have moved into second and third generation phases, and regulators have become savvier at detecting check-the-box programs.

As compliance professionals’ ability to measure program effectiveness improves, decision-makers will be better able to determine if their investments are working—and where additional resources are needed to meet goals.

One strategy organizations are increasingly exploring to help overcome time and budget obstacles is to employ microlearning training, which allows them to cover additional topics in less time, and at a lower cost, as well as refresh training more frequently.

Chat with a solutions expert to learn how you can take your compliance program to the next level of maturity.

New Healthcare Compliance Guidance

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Organizations are beginning to wake up to the fact that their relationships with third parties amount to one of their greatest risks, and need to be dealt with before issues arise.

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U.K. Commission Says “No” to Bounties for Whistleblowers

The United Kingdom’s Parliament has been considering offering whistleblower bounties similar to those offered under the U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act. A commission formed by the Bank of England and the UK Financial Conduct Authority spent time with U.S. regulators to investigate the benefits and the drawbacks of this type of legislation. The commission’s recommendation back to Parliament? A resounding no.

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