Is Compliance Training Worth it for Your Business?
Even if some of us don’t like it, there is simply no denying that political correctness and the workplace often go hand in hand today. This is as it should be, and more companies should commit to providing diverse and inclusive spaces for their employees to feel like they are more than just the checkmark for affirmative action, for example.
Some of us wonder if it’s worth it, though. Besides just being the right thing to do, we need to remember that companies are here to make money. So, let’s examine this topic from the point of view of cost-benefit analysis. You’ll see why the investment is good to make. First, try looking at this resource, before you dig into this article.
Table of contents
It’s Part of Your Duty to Your Community – Meaning What?
On this surface, this argument might seem a bit too inclined toward feelings than facts but let me explain. The main point to remember as far as this goes is that performing these duties will boost your sales. How does that work?
Well, if you have a better image and reputation for your brand, more people are likely to purchase from you. It’s the beginning of inculcating loyalty to your products and your organization as a whole. Don’t neglect to give back to the people supporting you.
This is, of course, especially true for many small businesses out there. However, they are not the only ones that this is applicable for. You see, when you establish your company in a space, you are inherently benefiting from any local amenities. Having compliance rules and regulations is one way to show you are grateful and serious about setting up shop in a certain place.
Building the levels of trust with your customers can only be beneficial. If they know that you will follow through with any promises, such as excellent service or high-quality products, they are more likely to spread the word as well. This is known as word-of-mouth marketing and is something great to utilize if you have a good image!
It Can Help Bring About Change and Innovation
While we might not think of training for compliance as something that inspires creativity, there is a fair amount of evidence that it does. How so, though? I know for a long time I thought of it as something used to maintain the status quo. However, if you are looking to alter certain practices or the ethos of your brand, educating employees on compliance can go a long way.
Creating a brand new or altered code of conduct and teaching it at a session is one way you could go about this. You see, enacting policy shifts can often be a challenge. Notoriously, some people are simply not good with handling change. Catering to them is critical as well since we want to give everyone a fair chance at adjusting to the shifts.
That means that education is more important than ever. Don’t let anything fall by the wayside. Explain why any adjustments are being made, and how they will benefit not just the company but your workers as well. This can help encourage them to listen and enact them more readily than just handing a list of expectations might.
We might not realize it, but values are a good form of leverage when it comes to these sorts of things. Use the resources you have available and create rules and regulations that reflect your goals for your business.
It Can Reduce Overall Errors
The final thing I’ll touch upon today is that when you offer training like this, you will likely notice a lower rate of errors in your office or other workspaces. This is because when there are clear guidelines and rules set, it is easier to follow them. There is also more of a reason to follow them when workers know they are being evaluated for this.
While many of use worry about external threats to our companies (and rightfully so, considering the number of scammers, hackers, and other crooks that exist), we should also look internally. Please don’t take this to the extreme but do keep it in mind. Remember you should not go so far as to potentially discriminate against certain employees – see more on this page.
That being said, monitoring for these internal threats and inefficiencies is a way to benefit from compliance. You’d be surprised how many well-intentioned practices are actually harmful to productivity or profit levels. So, having a system to track this and make alterations can help.
Of course, this list is not comprehensive on all the reasons you should consider investing in compliance. However, hopefully, I’ve demonstrated why it is worth it to perform these sessions. You won’t regret it as you build brand loyalty!