- What is compliance training management software?
- Benefits of compliance training management software
- Key features of compliance training management software
It's not often talked about in training and development circles, but compliance training and regulatory training are not the same things as other kinds of training. While other training may be helpful and beneficial to a company and its employees, compliance training is necessary if you want to ensure that your workplace is following the laws and regulations that govern its operations.
For example, hospitals and healthcare organizations are required to follow federal HIPAA laws, which have several specific requirements and a long list of "Thou shalt not" rules. The only reliable way to make sure your staff understands those rules is through compliance training.
And the only way to ensure that everyone has completed the necessary training is with compliance training management software.
As the Association of Corporate Counsel said, for every dollar an organization spends on its compliance budget, it can save an average of $1.37 on damages, settlements, and fines. In other words, it (figuratively) pays to provide compliance training for your staff.
But compliance training isn't just limited to regulations. There are also ethical lessons and policies to cover. You can teach new employees about your organizational principles, as well as the professional ethics that guide your industry or your job. People who handle finances may have their own ethics training, as would policymakers or executives.
Compliance training should be required and done regularly, especially if you want to build a foundation for a healthy workplace culture. And the best way to track whether you're being successful is with compliance training management software.
What is compliance training management software?
Compliance training management software is not necessarily what it sounds like. (Or it is, depending on how you read the phrase.)
It is software that manages compliance training. It is not software that manages "compliance and training." That is, you're not managing compliance. You're managing whether people have been trained in compliance.
So why would you need software that manages compliance training?
Remember, we said it's to protect your organization from damages, settlements, and fines. If someone were to violate a policy or break a regulation, and they blamed the organization for not providing the proper training, how do you defend yourself?
Case in point: A police officer in York, Canada is facing charges of corruption and criminal behavior, partly because of how he handled some reporting and paying of confidential informants (CIs). His defense was that he was not properly trained in some procedures, which affected how he filled out the reports and what he did with the funds he was supposed to pay a CI with.
If the York Regional Police had used a compliance training management software solution, they could have immediately looked up whether the officer had actually taken the training or not. If he hadn't, they could have sent automated email reminders that he needed to take the training by a certain deadline. (And with the right kind of software, he could have reviewed the training materials and watched any of the videos on his mobile phone while he was parked in his patrol car.)
Twenty years ago, most training management was done with sign-in sheets and files. You had to track the attendance of your employees by hand, including whether they were going to miss or meet the necessary deadlines. And if you had regulatory or accreditation requirements, that training had to be completed – you could spend days trying to track down everyone who needed to take the training before their certifications expired.
Benefits of compliance training management software
There are several benefits of using software to manage your compliance training.
For one thing, it makes the actual management part that much easier. You can set deadlines for completing training sessions, and then be notified when employees have completed the training or when they're in danger of bumping up against the deadlines you have sent.
You can also set up the system so it sends frequent reminder emails to your employees until they actually complete the training. And because this is an online automated system, the software will automatically track when the training is done. You don't have to go into the platform and mark it as completed – that's done for you.
The management software can also save time and money. Rather than trying to get everyone into the same training room at the same time, you can share the training modules online so people can learn at their own pace and convenience. Good compliance training management software also lets you host people in a virtual classroom for synchronous (simultaneous) training, but it works with asynchronous (on your own time) training as well.
You can also save money on overtime and facilities management by having people come into the office for the training sessions. If they can watch videos and take the tests on their downtime during their regular schedule, that saves your overtime budget.
Good compliance training management software can handle the larger training management component of your learning & development efforts. So you can track all the training sessions and classes your employees take, which means you can keep track of online training sessions, conferences, CEO credits, and even higher education.
That same software can deliver your training content on a variety of devices and platforms. Since it's web-based and browser-based, anyone with a phone, tablet, or laptop and a wifi or cellular signal can view the training materials.
And if there's ever a correction or update to the training content, you can push out notifications to your employees so they can watch the new materials.
And once your employees have completed their compliance training, the software can automatically update your accreditation software as well. This helps you track the progress of your accreditation efforts and ensures you're meeting all your milestones.
Finally, as we discussed earlier, compliance training helps employees avoid mistakes that can cost you millions of dollars. Because this software keeps track of all training sessions and communication, if an employee ever files a lawsuit or grievance, or uses the "they never trained me" defense, you have immediate access to all the training videos and materials they reviewed, their signatures that they completed the sessions, or barring any of that, the number of notifications they received reminding them to complete the training. (At least that way, they can't say no one told them.)
Key features of compliance training management software
Compliance training management software needs to have several key features in order to be effective. Consider these your non-negotiables:
- Mobile-ready: Your employees should be able to review all training materials on any kind of device, whether it's their laptop/desktop computer, or their mobile phone or tablet.
- Centralized storage: You want to be able to upload and store all of your training content in one location. This way, everyone has shared access to it, rather than trying to track down who has the correct versions.
- Version history: Your policies and regulations need to be up-to-date, and you want to be able to see at a glance whether everyone has received the latest version of the information. By updating policies on the centralized repository, you never have to worry about whether people are looking at a policy that's two versions out of date. You can update the policy, push out the new version to everyone, and then ask them to read it and sign that they have done so. That means you also want.
- Signature capture and tracking: Once everyone has read their new policy updates, or they've completed their training, you can have them sign an online form showing that they've actually completed it. Your compliance training management software should be able to track all of that.
- Attaching policies to training courses: When your compliance policies are updated, you can set them to automatically update the training courses as well.
- Attach custom tests to policies: You can also assess employees' knowledge of your compliance training content and require them to pass those tests before they can sign off on the policy. This gives you an additional leg in your defense, and can also help you meet accreditation and regulatory requirements.
Compliance training management software you can trust
With compliance training management software, you can protect your employees and your company by ensuring that everyone understands the same ethics and policies that guide your workers, your company, and your industry.
You can share your policies and training content from a central repository, ensure that everyone has received it, track their completion and assessment scores, and then send notifications to people who have not completed their necessary sessions.
PowerDMS has the compliance training management software to help any kind of highly-regulated industry or organization, whether it's law enforcement agencies, healthcare facilities, financial services, law firms, telecommunications, or transportation.
If you would like to learn more about how PowerDMS can help you with your organization's compliance training management, contact us for a free demo or to ask us any questions.