The cost of compliance failure – why eLearning fits the bill perfectly

While compliance training needs to keep up with modern technology and the speed of change (see Information Security or GDPR as examples) the risks associated with ignorance in financial and HR law and practices can be just as costly.

Recently a major Estate Agency chain was fined £215,000 for failing to ensure that its money-laundering procedures and record-keeping were in line with regulations.

Countrywide said it had “conducted a full review of its anti-money laundering controls and has taken thorough measures to strengthen the processes that support and monitor compliance throughout the business.”

The changes include hiring and training more staff to monitor deals.

HMRC were also making “surprise” visits to 50 other Estate Agencies to check on the level of compliance within this industry.

So how can businesses not only keep up with the law but also ensure that their mandatory training informs and educates their staff without taking them out of the business for too long and/ or killing them with detailed and legal jargon?

Well produced and designed short eLearning courses fit the bill perfectly if they are well researched, back up by subject experts and accredited or approved by the relevant organisations.

So what should the perfect legal compliance eLearning course look like?

  • It needs to be easy to navigate so the learner understands exactly why they are being taken on the learning “journey”. It also needs to use interactivity to keep learners engaged.
  • Use-case scenarios are key to allow them to truly comprehend the consequences of not following the law.
  • They need to speak to the learner at their level – not talk down to them or assume a high level of knowledge
  • They need to be beautifully designed so they keep the learner interested.
  • The use of audio (preferably using a diversity of vocal talent) to keep them listening and engaged
  • They must include a post test to check on comprehension and to ensure key messages have been taken on board
  • A downloadable takeaway (such as an eBook or personal planning document) to allow the learner to refer back to after the training

The most successful M Learning/ eLearning courses combine all the above elements.

If you are unsure where to find the perfect elearning supplier- of if you need convincing that eLearning can be an effective way to introduce compliance training download our eBook today.

 

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