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Corporate Compliance Training Materials - Buyer's Journey

Delivered January 17, 2020. Contributor: Pamela E.

Goals

To learn about the journey buyers of corporate compliance training materials go through when choosing what tools, jobs aids, and related materials to buy: how they find what they are interested in, what they choose to buy, and who (what companies or manufacturers) they buy from.

Early Findings

  • A strong compliance program is linked to a strong ethics program. A strong compliance program consists of five parts: a tone that is set by executives and board members, a good corporate culture, regular risk assessments including testing and monitoring, and a skilled Chief Compliance Officer.
  • Chief Compliance Officers are responsible for selecting or leading the team that selects, compliance program training materials, tools, learning aids and other resources purchased. This person is alsoresponsible for the implementation of these tools, for ensuring all employees are properly trained, and for handling ethics and compliance-related complaints brought to their attention.
  •  Compliance Week, a "news and information outlet dedicated to governance, compliance, and risk issues" is a leading resource used by compliance officers to learn about new topics and other compliance issues that plays a role in obtaining information during the buyer journey for new training tools, learning aids, and other materials.
  • The three main goals of a corporate compliance program are to "prevent misconduct, to detect misconduct, and to align corporate policies with laws, rules, and regulations."
  • When beginning the buyer journey to choose corporate compliance training programs, materials, and tools, Chief Compliance Officers and other decision-makers must take into consideration different factors such as the topics and risks they need to address, who their audience (employee groups are) and if any groups need training in areas others don't, the timeline they are going to follow while conducting training, the methods they are going to use while conducting training, and how they will test to measure and monitor the effectiveness of the training.
  • Attending Corporate Compliance Seminars may be part of the buyer journey, as they provide guidance on what is working well and what may not be working so well in the realm of corporate compliance.
  • There are a variety of user-reviewed compliance tools and compliance management systems available for purchase. Reading reviews can help Cheif Compliance Officers and other decision-makers decide which program and tools will best meet their needs.
  • Understanding what effective compliance training consists of is a critical part of the buyer journey. White papers, such as this one "Six Elements of Effective Compliance Training: What Moves the Needle" are highly useful in determining the tools, learning aids, materials, and other available resources that will best meet the compliance training needs of individual companies.

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