Cost-Effective Training to Avoid Non-Compliance Penalties

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  • Cost-Effective Training to Avoid Non-Compliance Penalties

    1. 1. Cost-Effective Training to Avoid Non-Compliance Penalties CommLab India
    2. 2. Compliance Challenges • Compliance regulations are complex
    3. 3. Compliance Challenges • Most organizations need to comply with more than 1 compliance requirement 4 or more 3 2 1 35% 29% 25% 11% Source: InformationWeek 2012 Regulatory Compliance Survey of 422 business technology professionals, May 2012
    4. 4. Compliance Challenges • Rules are complex • Need proficient employees • Lack of in-house expertise
    5. 5. Compliance Challenges • Cost of Non Compliance is 2.6 More than Cost of Compliance Average Compliance Cost $3,529,570 Average Non-Compliance Cost $9,368,351 Average Total Cost $12,897,921 Source: Ponemon Institute LLC, 2011
    6. 6. Compliance Challenges • Millions of Dollars in Fines
    7. 7. CONSEQUENCES OF NON-COMPLIANCE
    8. 8. Consequences of Non-Compliance • Business Disruption
    9. 9. Consequences of Non-Compliance • Fines, Penalties, Sanctions
    10. 10. Consequences of Non-Compliance • Revenue Loss
    11. 11. Consequences of Non-Compliance • Productivity Loss
    12. 12. Consequences of Non-Compliance • Business Disruption • Fines, Penalties, Sanctions • Revenue Loss • Productivity Loss
    13. 13. HOW CAN ORGANIZATIONS DELIVER EFFECTIVE COMPLIANCE TRAINING?
    14. 14. Delivery of compliance training Classroom training: • Limited reach in relation when more number of employees have to be training.
    15. 15. Delivery of compliance training Off-the-shelf online courses: • Relatively Inexpensive
    16. 16. Delivery of compliance training Customized eLearning courses: • Customization as per organization’s needs
    17. 17. Delivery of compliance training Blended training: • Classroom Training + eLearning
    18. 18. ONLINE TRAINING BEST FOR COMPLIANCE TRAINING
    19. 19. Online Training for Compliance • Online Training is considered best for Compliance Training
    20. 20. Online Training for Compliance • Custom – made eLearning courses
    21. 21. Online Training for Compliance • Engaging with scenarios and real life examples.
    22. 22. Online Training for Compliance • Training possible through multiple devices
    23. 23. Online Training for Compliance • Hosting on LMS can facilitate easy tracking and certification
    24. 24. Conclusion • Online training solutions deliver compliance training to all the employees. • Training is effective and can be reinforced periodically for maximum impact. • It is cost-effective as larger groups of employees can be trained within a short duration.
    25. 25. To read articles on similar topics, please visit blog.commlabindia.com
    26. 26. Thank you

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