Compliance is a catch-all phrase that describes the act of abiding by all of the laws, regulations and guidelines that are relevant to your business. In order to remain compliant, businesses need to identify and document all of the rules, laws and guidelines that apply to them, detail how they will comply and regularly monitor compliance to test that their processes and training are appropriate and up to date.
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If a company is found to be non-compliant in any area, it can be subject to serious consequences. These consequences can include fines, increased insurance premiums, asset confiscation, compensation claims and operational disruptions. For very serious compliance breaches, directors may even face criminal charges, imprisonment and the loss of their business licences.
Compliance training can embed the right behaviours and culture.
Compliance elearning, such as that delivered by //www.adempi.co.uk/elearning, can help businesses at all stages of their compliance journey, from identification of relevant legislation through to staff refresher training, reminding them of their responsibilities and establishing a culture of continuous improvement.
With training tailored to a business’s individual needs, it will always deliver customer satisfaction and operational results. Combined with strong processes, a clear escalation route and staff empowerment, an effective compliance culture can quickly be established.
Who is responsible for compliance?
The company’s board of directors is ultimately responsible for its compliance. However, every member of the workforce has an individual responsibility to uphold the business values, follow its processes and act ethically and responsibly within the bounds of their delegated authority.