While compliance training needs to keep up with modern technology and the speed of change (see Information Security or GDPR as examples) the risks associated with ignorance in financial and HR law and practices can be just as costly.
Recently a major Estate Agency chain was fined £215,000 for failing to ensure that its money-laundering procedures and record-keeping were in line with regulations.
Countrywide said it had "conducted a full review of its anti-money laundering controls and has taken thorough measures to strengthen the processes that support and monitor compliance throughout the business."
The changes include hiring and training more staff to monitor deals.
HMRC were also making "surprise" visits to 50 other Estate Agencies to check on the level of compliance within this industry.
So how can businesses not only keep up with the law but also ensure that their mandatory training informs and educates their staff without taking them out of the business for too long and/ or killing them with detailed and legal jargon?
Well produced and designed short eLearning courses fit the bill perfectly if they are well researched, back up by subject experts and accredited or approved by the relevant organisations.
So what should the perfect legal compliance eLearning course look like?
The most successful M Learning/ eLearning courses combine all the above elements.
If you are unsure where to find the perfect elearning supplier- of if you need convincing that eLearning can be an effective way to introduce compliance training download our eBook today.
We have an extensive library of courses covering key skill areas from Leadership and Management fundamentals to Health and Safety essentials. We know companies need a learning solution specific to their requirements, training budget and learning culture.
At Engage in Learning we will work in partnership with you to help you find the right solution and use our flexible licencing model to ensure your learning is cost effective.