Ethics and industry compliance are necessary to keep a business running smoothly. When companies make compliance a priority, workplace morale improves, misconduct decreases (as do the possible legal ramifications), and the business’s reputation soars within their industry and community. Everybody wins!
Of course, an ethical and compliant workplace culture doesn’t happen overnight. Companies need to invest in compliance by providing comprehensive training and enforcing compliance policies within the workplace. Beyond that, your program, policies, and actions have to actually be effective in promoting the right behavior around the whole organization. This can be a challenge for organizations big and small – which is why many have turned to compliance software to help them improve efficiency and focus on the most important things.
What is compliance software? How can it help your business?
If you’re asking yourself these questions, don’t worry; you’re in good company. Many business owners are unaware of the benefits compliance software can provide.
First and foremost, let’s define compliance software:
Compliance software is a digital system that centralizes and streamlines a company’s adherence to legal and professional standards for their industry. This system is typically comprised of employee training tools, incident reporting software (including an anonymous tip line), and data collection for managers to monitor the progress and effectiveness of their compliance policies.
With compliance software, business owners can make sure that their staff is adhering to all professional standards and regulations. By tracking employee training and allowing for quick incident reporting, an organization can assess their compliance efficacy – and using one centralized software is the easiest way to keep track of this essential data.
Key Components Of Compliance Management Software
Company compliance is especially important, but it’s also extremely complicated. There are many elements to address, from onboarding new employees to monitoring and adjusting policies to meet new industry requirements. Compliance management software puts everything an organization needs into one user-friendly space, making it easier to stay on top of compliance.
Common features in compliance software are:
Training Modules: Short videos, training scripts, and other tools to assist in employee training.
Task Management: Streamlined workflows to ensure all employees adhere to industry regulations with daily activities.
Reporting Features: Systems that allow employees to anonymously report incidences of wrongdoing, noncompliance, or other misconduct.
Incident Management: A workflow that ensures all reported incidents are thoroughly investigated and that managers take appropriate action to resolve each issue.
Notifications and Alerts: Software alerts both employees and management when the organization is not fully in compliance (e.g., when someone has reported an incident when an employee has not finished training, etc.)
Data Overview: Regular data reports to demonstrate where the organization is succeeding in its compliance and where it can be improved.
Benefits Of Compliance Software For HR
Your company’s HR department is probably a very busy group. They have lots to do on any given day – and checking in on compliance as well might be too much for one team. But luckily, compliance software makes it easy to keep an organization compliant. The automated software will handle compliance behind the scenes, only alerting HR when there’s an issue to report or data to review.
For example, the image above shows the data for incident reports across an organization. You can see that the data indicates the severity of an incident, where it was located, whether the tip was anonymous, and much more.
HR can use these data to determine which compliance elements your staff needs to review, which regions are struggling the most with misconduct, and other ways that your organization can become more ethical and compliant. Your company can stay on top of compliance policies and procedures without having to overload your employees!
Here are a few other reasons why compliance software is a must-have:
It Helps You Conduct Compliance Training
Training is the first line of defense against noncompliance. When your staff is thoroughly and effectively trained, they are more likely to remember the standards and regulations expected of them in your industry. However, getting your staff to retain this information can be a real struggle – and that’s where compliance software comes in.
Compliance management software includes many tricks for engaging your staff for a more enjoyable and memorable training experience. For example, our software is equipped with bite-sized videos, games to play during training, and other unique methods to make your training really “stick.” Our software systems are even customizable to suit your organization’s specific training needs.
It Helps You Track Employee Training
Once you develop a more engaging training program, it’s time to approach your next hurdle: making sure your employees participate. It is essential to have your employees complete their training, so you can be sure that they have the information necessary to follow company compliance.
This is another way that compliancesoftware is effective, as it tracks your employee’s progress through the training process. HR will receive data reports about each employee’s progression, as well as a report when they’ve completed their compliance training.
With this software, a manager can ask employees to complete training on their own (by watching videos or taking quizzes), freeing up the manager’s time and giving the employee the opportunity to work at their own pace.
It Helps You Monitor Misconduct
This might be the most important element of compliance software. A company cannot have an ethical or compliant culture if there is no system for reporting misconduct. Employees need a safe and easy way to report noncompliance – and compliance software is ready-made to precisely provide that.
As you can see in the image above, employees can report noncompliance through anonymous online forms included with the software (just like with our software). This allows your employees the freedom to speak up when they see misconduct, with no risk of unfair repercussions from colleagues or managers.
Additionally, many compliance software programs allow HR to set up a chain of reporting, like the one you see in the photo below. This workflow will automatically alert certain individuals throughout an employee investigation, ensuring that everyone does their due diligence, and that the organization addresses misconduct properly.
Choose Compliance Software, Choose a Safe Workplace
As you can see, compliance software can make the monumental and important task of managing compliance much easier. With one software system, you can help your organization become a more ethical place – and everyone in your workplace will thank you for it.