Compliance Training: What Is It And Why Is It So Important?
Compliance training is the backbone of any successful business. When it’s handled right, it can give employees confidence and offer increased value to customers and stakeholders. So why do employees often dread corporate compliance training?
These important learning opportunities can often have a bad reputation for being boring, impersonal, and out of touch with employees’ everyday workplace reality. But this is not the case at all. Compliance training is a great opportunity to touch base with your employees and learn more about the day-to-day workings of your company. As a company leader, you just have to make sure that it is engaging and fun.
Not only does compliance training educate and upskill your employees, but it also helps to protect your business from risk. There’s a lot that goes into organizing a compliance training session, and the more it’s customized to the unique needs of your business, the more useful it is.
Today, let’s explore compliance training, and learn how to choose the corporate compliance training course that works best for your business.
Compliance Training: What Is It Exactly?
What is compliance training? Essentially, compliance training is a way of educating employees on the laws and policies that govern their responsibilities, as well as the regulations that protect their jobs.
The content of compliance training varies greatly depending on the industry you work in but can include information on pertinent laws and regulations that employees must follow, as well as the rules that govern how they should behave in the workplace. Popular topics may include how to deal with trade secrets or competitors, how to handle sensitive data, or how to behave appropriately with colleagues.
My Business Doesn’t Need It, Does It?
Every business requires some kind of compliance training. Tightly regulated industries like banking or finance have much more stringent rules on employee compliance training, but even smaller businesses benefit from regular sessions on compliance. Learning current best practices on workplace harassment, violence prevention, or ethics is relevant to any industry or workplace, no matter how small.
Compliance training is also a key way to help offset liability in the event that an employee violates the Code of Conduct, commits an indiscretion, or even violates provincial or federal law while on the job.
Within Ontario, every workplace covered under the Occupational Health and Safety Act (OHSA) must offer compliance training to their employees. That includes every workplace regardless of size but excludes private farming operations as well as freelancers and other self-employed persons.
At the very minimum, these workers covered under OHSA must learn about their rights and responsibilities as employees, the duties that their employers owes to them, as well as any common hazards that are relevant to their specific job. They must also learn about the Accessibility for Ontarians with Disabilities Act (AODA), and how it relates to their workplace.
Ontario Specific Compliance
In addition to the basic compliance training that’s mandatory in Ontario under OHSA and the AODA, any workplace that works with hazardous materials must complete Workplace Hazardous Materials Information System (WHMIS) training, as well as a new system for labelling called the Globally Harmonized System (GHS).
Every industry has its own specific compliance training, which may be subject to intense regulation. Industries like construction, finance, or banking have strict rules for compliance training, and require detailed records on when and how employees receive this training.
The Importance of Being Trained In Compliance
Compliance training is a very important aspect of any workplace. It helps ensure that your workplace runs efficiently and safely, and improves workers’ knowledge and skills. Research has shown that the more money a company invests into compliance training, the less they’ll pay on damages, fines, or settlements.
Well-trained, competent employees help your company to present a good public image. It’s also easier to feel satisfied in a job when you feel confident that your knowledge is up to date, and you feel supported by management and company leadership.
Next Steps: Choosing A Corporate Compliance Training Course
Corporate compliance training is an absolutely critical part of any workplace. If you spend some time making it enjoyable as well as educational for your employees, you’ll quickly see the benefits for your staff, as well as your business.
Next time you’re searching for a company to plan and organize your corporate compliance training, get in touch with Training Company. Our instructors are all highly knowledgeable, and certified to execute a wide range of industry-specific compliance training.
Whether you’re looking for detailed workshops in healthcare compliance or just want to upskill your employees on the latest popular topics in project management or cyber security, we’re got you covered. Contact us today to explore the training solution that’s right for your company.