How compliance training keeps companies and employees safe

compliance training

Compliance training is a critical but sometimes overlooked aspect of HR. Yet, compliance training not only gives employees the skills they need to thrive in the workplace and create better customer experiences, it also helps protect them and the company from harm and potential legal issues or fines.

In this article we discuss why compliance training is important – and how it protects both your business and your people.

Why training is important

Compliance training is important for a number of reasons. In retail businesses for example, compliance programs help reduce the risk of theft or fraud happening within your company. According to one study, 75 percent of employees admitted to stealing from their employer at least once, while 37.5 percent reported stealing from their company more than twice. But fraud and theft aren’t the only issues compliance training helps companies tackle.

It also helps protect others who aren’t employed by your company, including your customers. Most compliance rules are designed so that if your workers come across violations on the job, they know to report it immediately. In this way, employees serve as the first line of defense in running a safe workplace for everyone and ensuring company-wide compliance.

How compliance training protects companies

In addition to helping your company meet federal and state laws, compliance training can help protect your business from fines and legal issues by ensuring they’re aware of the company’s requirements and how to handle violations.

Compliance training also helps protect your business from negligence, which can hold the company liable for damages if a compliance violation reoccurs. Even more importantly, having this type of training in place shows employees, customers and others in the industry that compliance is a top priority for your company.

How compliance training keeps employees safe

A compliance program is designed to protect employees who may come into contact with dangerous or unsafe working conditions. If your workers know what should be reported and how to do so properly, they can tell you about accidents or errors before someone gets hurt or the issues spiral out of control. This helps reduce the risk of lost time or productivity that might occur if an employee is hurt on the job – and in some cases it could even save their lives.

Additionally, compliance training teaches your employees what kinds of dangers should be reported – especially those involving dangerous chemicals, faulty equipment, noncompliant procedures and more.

Why you should have annual compliance training (and training refreshers)

A compliance training program should be an ongoing and year-round process. Having annual compliance training not only helps reduce compliance risks and issues, it helps employees stay aware of new compliance laws that could affect their day-to-day work.

Additionally, annual training – as well as ongoing training refreshers – gives employees an opportunity to ask questions about specific situations they’ve encountered and get clarity on any policies or procedures that could cause confusion in the future.

Compliance is a shared responsibility

All businesses have a responsibility to meet federal and state laws. One of the best ways to ensure this happens is through compliance training. Yet, while it’s up to the business to set the tone and create the actual training, employee engagement is critical for success.

After all, it can be easy for some employees to get complacent after going through training once or twice. Which is why you need to ensure your employees are aware of the importance of training and keep their eyes open for potential issues that could affect your company’s success – and their own working environment.

If this sounds like something you want for your business, reach out to Fit2Trade today! Our compliance education courses are built by actual educators, so you can have confidence that your employees are learning the right information to make the right decisions. Book a free demo now to discover how we can protect your business and make it safer for employees and your customers.

Written by Christian Willis from Fit2Trade

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