All organizations, irrespective of their size and nature, need to abide by relevant laws and regulatory norms. It is important to educate staff members on these laws and regulations governing an organization, so that employees can adhere to them while on the job.
Good compliance training goes a long way in preventing violations of law and minimizes the risk of legal liability to the organization considerably. Companies with effective compliance programs in place may receive more lenient treatment during investigations. Imparting effective compliance training also helps reduce the penalties imposed for non-compliance of norms and statutes. In the US, a company’s fine can be reduced by 95% if the company has an effective program.
Check out the insightful presentation Tips for Initiating Legal Compliance Training Program to know more about compliance training programs. The presentation:
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