In 2017, NAVEX Global partnered with an independent research firm to survey ethics and compliance (E&C) professionals from a range of industries on their approach to E&C training. The findings represent responses from 929 respondents. (See respondent profile in the next section for additional details.)
This report provides insights and analysis of E&C training questions such as:
»» What approaches do organizations take?
»» What challenges do organizations face?
»» How do organizations measure effectiveness?
»» What outcomes or benefits do organizations realize and what influenced them?
»» What activities are priorities for organizations?
The latest Ethics & Compliance Training Benchmark Report shows that although compliance violations are very much in the news, companies are not investing in compliance training any more than they have in prior years. Lack of board training is a further risk to organizations, with only 44 percent of respondents providing training to their boards.
How to Use This Report
Many organizations have compliance training programs in place today. In most cases, these programs are pursued to both protect their organization and to help build a culture of ethics and respect. Yet, many programs are challenged by a lack of budget and resources, often as a result of the difficulty program leaders and administrators have demonstrating the value of a training program. When faced with increasing demands for training despite limited resources, demonstrating the value of program performance is critical.
This report will help you:
»» Assess the quality and effectiveness of your own training program, and whether your program is protecting the organization or leaving it at risk
»» Evaluate your program against peers and discover ways for it to mature
»» Benchmark your training program against industry norms and best practices
»» Leverage data and recommendations to improve your program effectiveness
We hope you will find this report useful and that it will provide both inspiration and motivation to make your ethics and compliance training program even more effective.
This is the fourth year NAVEX Global has published a market benchmark report on the state of ethics and compliance training. Each year, new insights and a few surprises are revealed. This year’s survey was designed to expand upon a core set of questions we’ve asked in previous years to create benchmarks for your program. For the second time, we have expanded our analysis on the benefits of program maturity to help your organization justify resource allocation (both time and money) to drive program improvements. Our research continues to show that mature, well-run programs drive higher performance and improved outcomes. When organizations commit resources to and assign structure to their ethics and compliance programs, there is a positive relationship between investment and outcomes.
In addition, including organizational executives and boards in training strategies is critical to program success; it represents a best practice and improves
the effectiveness of your program. The following key themes are considerations for this year’s analysis:
»» Compliance is in the news. Compliance missteps have dominated news cycles this past year. Both household brands and market newcomers are finding their programs and efforts to curb misconduct under an often intense and critical spotlight. Add in social media’s ability to reach millions and you have an operating environment that is less forgiving and more demanding for ethics and compliance professionals. Failed efforts and poorly run programs (including low quality training) quickly become fodder for the news cycle and put uninvited pressure on your program. The best organizations are not just focusing on culture and regulatory compliance, but also considering how their efforts will fare under the scrutiny of the public eye.
»» Compliance replaces culture as the top training objective. For the first time since this benchmark report has been published, “complying with laws and regulations” is the most important ethics and compliance training objective (59% selected this as one of their top three objectives) followed by “creating a culture of ethics and respect,” the second most important objective at 57 percent. However, culture remains more important to organizations with Mature or Advanced E&C practices. Also worthy of note, “preventing future issues or misconduct” has become a higher training priority compared to the previous year (39% in 2017 vs. 28% in 2016).
To learn more of the key findings, read the full article here: http://trust.navexglobal.com/2017-Training-Benchmark-Report_Download.html?utm_source=lexology&utm_medium=syndication&utm_campaign=2017-olt-br