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How eLearning reduces your compliance risk

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John Sherman
2017-07-19

Failing to plan is planning to fail. We’re all aware of that, right? Why then do companies frequently founder when reducing their compliance risk despite it being an issue of such pivotal importance?

Any organization that operates in today’s corporate world needs to be compliant with the regulations of their industry. Financial, construction, human resource industries, and all others have their own set of rules structuring the operation of business.

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By educating employees on the new changes to compliance in your industry, businesses give themselves the best chance of avoiding any nasty surprises.

But eLearning courses are only as effective as their structure. In this article, we’ll look at a number of ways online courses help reduce compliance risk by effectively educating learners. Away we go!

Tall tales of compliance risk

Spinning a compliance-themed yarn is one of the fantastic ways that online learning courses break the boring mold of compliance risk learning.

The inclusion of stories and tales in compliance learning is a useful training method because stories can tell real-life scenarios. Rather than explain compliance through a theory-focused, boring textbook-led method, the use of stories in compliance makes lessons relevant, exciting, and practical so that they can be put into practice quickly.

eLearning can use real events to explain some of the situations that other companies have faced.

And there is little better way to tug at the heart strings than through the telling of an emotionally charged tale. Like reading a book or watching a film, we care so much more about the outcome of the story if we feel emotionally connected to the characters within it.

eLearning offers likable characters to ensure students are fully engaged in their learning.

Delicious bite sized bits

Regardless of the industry, the many facets of compliance regulations mean that learning how to avoid compliance risks is a tricky business.

Learning rules and regulations and how they are used in practice takes hours of studying. And if we know that our brains don’t have the ability to study for hours, but breaking learning down into bite sized pieces is a very effective and simple way to increase learning effectiveness.

Not convinced? Here’re a few more benefits of breaking compliance learning into delightful little bits:

  • Breaking learning down into easily digested parts means knowledge retention is increased.
  • Learnings are less likely to be bored because they see their steady progress. This also means they’re less likely to become despondent.
  • Students can engage with their learning in a flexible manner. eLearning can be done anywhere there’s an internet connection – spare minutes on the bus become productive mini lessons!

Quick n easy review

What’s the point of teaching if there’s no way to know what the students are being taught, and more importantly, how well they’ve understood it?

Compliance training is great, but you need to be able to review what students know before they’re ready to be placed into a position of responsibility. This is particularly important for a topic like compliance, when failing to meet requirements can be costly.

But eLearning offers major benefits for employers wanting to check that their employees have got the hang of compliance regulations. eLearning platforms store all data that is entered onto the platform, which can be quickly assessed to review a student’s performance.

Tasks, tests, quizzes and exams are all ways that eLearning platforms assess a student. With easy, definite answers, an employer can be sure that their employee is equipped with the resources to meet any compliance regulation in the industry.

There’s more than one way to make your compliance bed

Let’s not sugarcoat it – for employees who didn’t choose to work in compliance as their career, the process of learning about compliance regulations can be a bit dry. And that’s an obstacle for learning. But if a course is able to unsettle learner’s expectations and offer a few surprises, then it’s sure to be far more memorable. Luckily for us, that’s what eLearning is all about.

Compliance is a topic that affects the organization of a business in many, many ways. So to do justice to the multifaceted nature of compliance, it’s really vital that compliance is also taught from a range of perspectives. This, being blunt, is eLearning’s strength.

The variety of learning methods is what marks online training as the best way to reduce compliancy risk for an organization.  eLearning platforms use simulations, quizzes, stories (as mentioned above), gamification, role-play, audio, video, and almost any other multimedia you can think of! That’s a whole load of ways to take students through the complicated maze of compliance.

Spend a penny to save… much, much more

Sure, eLearning courses cost money. But compared to the punishing costs of non-compliance to industry regulations? They really don’t even compare.

You can think about eLearning as an investment for a company. To save a whole heap of cash, a little must be spent. But considering the costs involved, eLearning is incredibly cost effective as a way to educate employees and be sure that the company is up to date with compliance laws.

On top of these compliance-related benefits, there are also secondary benefits connected to eLearning. Staff retention improves in businesses who train their staff and staff morale rises too.

Compliance training through eLearning is a win-win situation. It’s an inexpensive resource to enjoy, but can be very expensive if forgotten!

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