30 Nov Pop quiz: What does compliance really mean today?
Ahead of our breakfast event next week, Brightwave’s Sales Director Paul Kelly talks about the challenges facing compliance training today, where the problem lies – and what we’re going to do about it.
The common perception is that compliance training is a dreaded activity.
An overload of information squeezed into a number of online modules without any surrounding framework to help ensure the objective of the training – a vibrant and vigilant compliance culture – is embedded in the workplace. We’ve made serious improvements on the formula.
In fact, we’re pretty much the best there is at it.
But there is an opportunity there that we as an industry are not taking. We can do SO MUCH better.
And when we do, it will change the way compliance adds value to the enterprise at all levels.
The problem(s) with compliance today:
- People hate taking the training.
- Supervisors hate their staff taking time to do it and nagging them about completing it.
- Compliance folk bemoan the fact that people treat it like a tick box exercise.
- Regulators fume.~
So why is that?
Compliance is still treated as a linear knowledge transfer exercise. The emphasis and responsibility usually fall on individuals to ensure the organisations is protected against liability. This is fine for deflecting trouble and for proving due diligence.
But it’s not great for making sure trouble never happens in the first place. Today, compliance breaches are simply too costly, both for reputation and for the bottom line, to have a defensive posture that only activates after the horse has bolted, jumped the stable door, and rampaged around the paddock while the whole world watches.
It is not seen often seen as a cultural, leadership or social behavioural situation.
If each individual takes their action, then everything will be alright.
The reality is most compliance situations unfold through transactions and moments between people. People at varying levels of access and influence.
Clients. Managers. Making decisions in the moment. In time-bound situations.
Most people ‘know’ the right thing to do – but their emotional resilience breaks down and pressure on priorities create a weak point.
And once a small decision has been made, a new danger arises from the perceived need to cover up rather than roll back and course-correct.
This is because individual decision making and resilience is only one leg of the table.
The others are:
- Executive presence
- Supervisor support
- Group behaviour
- Infrastructure support
In other areas of the business this is already understood. Taking a holistic perspective to build-in support and align appropriate behaviour at all points of vulnerability is something we see happening all the time.
Why isn’t there more focus in these areas in compliance?
What’s your take?
And find out the results at our breakfast event in London next week. I’ll be sharing the feedback and leading a team of hand-picked experts to transform compliance for good. See you there.