Use LMS for compliance training
Compliance is an issue for regulatory and other high-risk sectors. As financial, legal and reputational damage is at stake, it is important to eliminate the risks posed by non-compliance. Using LMS for compliance training is perhaps the easiest way for any organization to fulfill its regulatory and legal obligations. But the best organizations go beyond ease of use and use LMS to create a compliance culture that actively prevents risk. The risk in question could be in someone’s health and safety, fulfilling regulatory requirements, or in the organization’s financial position. Whatever the risk, you can harness the power of LMS-enabled compliance culture to mitigate or even eliminate it.
9 Steps to Creating an LMS-enabled Compliance Culture
1. Overhauling the approach to essential training
The starting point for instilling a compliance culture within an organization is to move from essential to meaningful learning. [1]. Compliance training is, by its nature, part of the essential training, but it doesn’t have to feel that way.
Provide compliance training through LMS in a personalized, flexible, interactive, and intentional way. It helps learners not only achieve boxy exercises, but also feel that they are getting something out of their training. This includes:
Personalized compliance pathways based on each learner’s role. Simulation and scenario-based learning to incorporate staff compliance training in real-world situations. By maintaining a high level of compliance, you earn compliance content that encourages teams and divisions to compete for perks and prizes. Remove unrelated training to increase focus and engagement.
2. Centralize compliance training
LMS should be the hub for all aspects of compliance training. This ensures that it acts as a single source of truth for compliance. All compliance-related courses, policies, certifications, and data must be stored in the LMS. If someone in your organization has a compliance question, they need to know that they will find the information they need in your LMS.
3. Create consistent compliance training
Personalising compliance training for employees increases its effectiveness. However, the underlying training should create consistency across all teams, departments and locations. Ensuring that all people receive the same message increases the likelihood of meeting the organization’s compliance responsibilities.
4.Assign training automatically
LMS removes most of the administrative burden of overseeing compliance. The platform can easily automate key aspects of compliance training. This includes:
Assign compliance training to relevant learners. Automate reminders for learners who have not completed a specific course. After the learner has completed a particular course last, it automatically assigns a refresher course for the required period.
5. Start compliance while onboarding
The onboarding process for LMS makes it easier for new starters to run. This includes adopting a compliance culture. We shared mandatory onboarding training in a personalized, role-specific, scenario-based style and discussed to join organizations involved in compliance from the start. It can also provide training that sets out why compliance is important to the organization and those within it.
6. Track the learners
A powerful LMS reporting system allows you to easily monitor which learners have completed or have not completed the required training. This helps streamline the process.
Tracking and dealing with the risk of non-compliance. Identify individuals, teams, and departments that create risk. Generate compliance reports for regulators and auditors.
7. Keep Agile
A truly effective compliance culture must respond to changes in requirements. LMS helps to implement new policies and initiatives almost instantly in every area of your organization. Finance is one of the most highly regulated industries, and regulations are often updated or changed with relatively short notices. With that in mind, you should equip financial services LMS to quickly and efficiently deploy new policies to maintain compliance. Western Union will enable LMS to provide compliance training to 500,000 agents simultaneously, enabling them to quickly meet new regulatory requirements.
8. Make compliance into KPI
Use the previously discussed gamification elements, or use LMS reporting data as a foundation to make compliance an important part of teams and individual performance reviews.
9. Cultivate a compliance culture
Use case studies, messages from senior leaders, and social evidence showing the importance of compliance within the LMS. Create an LMS forum where your people can exchange compliance best practices and ideas [2].
Conclusion
LMS-enabled compliance culture offers greater control, better insights and more effective techniques to mitigate the risks facing your organization. While LMS supports and streamlines risk prevention, technology needs to be backed up with the commitment to compliance that comes from the organization’s top and learning content coordinated to support these goals.
References:
[1] Move from essential to meaningful learning
[2] 8 tips to promote learner engagement in the LMS Forum
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Synergy Learning LMS
Award-winning LMS platform. Totara Platinum and Moodle Premium Partners create great learning platforms for your organization to reduce training costs, increase employee retention, and promote critical training and compliance.
