Microlearning

Microlearning for Compliance Training: Embrace Success, the MaxLearn Way!

compliance & ethics

Compliance failures result in serious risks to businesses like regulatory fine, lawsuits, reputational damage, wasted management time, and downward spiral of equity prices.

All these are easily avoided if strong and genuine Compliance & Ethics training initiatives are in place!  

Integrating microlearning in the overall training initiative helps you create an organisation that’s resilient on Compliance and Ethics issues caused by your workforce, executives and top management. Microlearning gives your learners (across levels) the required competencies to identify, report and deal with Compliance & Ethics matters confidently!

Let’s get exploring…

  • How do the current Compliance & Ethics training trends in the US look like?  
  • What are the tips to integrate microlearning with the Compliance & Ethics training initiative of a business? 
  • How can the MaxLearn Method of microlearning help?

Compliance & Ethics Training in US: Trends in 2020s

Many studies have been conducted on Compliance & Ethics, and the gist of those facts & figures is:

  • Most frequently covered topics include code of conduct & ethics, bribery & corruption [FCPA] (90%), followed by cyber-security (85%), Compliance hotline reporting mechanisms (65%), third-party fraud (60%), anti-money laundering, and Occupational Safety and Health Administration (OSHA) matters (55%). 
  • Senior leaders like board members or directors are barely trained on Compliance and Ethics (less than 50%) 
  • One-size-fits-all Compliance & Ethics programs are run by most companies. These include online self-guided, in-person/online presentations, and other online educational resources (60%).  
  • Training materials involving videos, real-life examples, blogs and adaptive learning technology like microlearning are abysmally low. 
  • Compliance related code of conduct doesn’t keep pace with the times, causing a delay in catching-up on the latest developments (almost 50%). 
  • Compliance & Ethics requirements are not linked to employee compensation (less than 50%).  
  • Businesses do not analyse how Compliance & Ethics training impacts employee behavior in real-life scenarios (over 75%).  
  • Less than 20% Compliance & Ethics involved matters like terrorist financing Insider trading 
    Privacy, including the General Data Protection Regulation, ESG and Harassment.

This data is not comforting. Clearly, there is a need for businesses in the US to assess and evaluate where one stands, and how microlearning can be used to deal with all the training gaps on Compliance & Ethics among other things.

Catching-up with Changing Compliance Requirements: An On-Going Challenge

To cite one of such requirement:

On March 15 2023, the U.S. Department of Justice (DOJ or the Department) launched a three-year Compensation Incentives and Clawbacks Pilot Program that incentivises companies to create more robust compliance programs by connecting Compliance with compensation structures for executives and employees.

It incentivises companies to create compensation systems having financial penalties for misconduct by employees. This measure intends to foster a Corporate culture for employees to follow all the applicable laws, and steer clear of legal grey areas.

These new enforcement policies effectively bring the employee compensation into the purview of Compliance.

The implications:

To implement such measures, companies will need a better understanding of compensation policies and employment laws at both US state and federal levels.

This requires each employee to be made aware of one’s risk-specific Compliance & Ethics responsibilities so that a business doesn’t have the need to ‘clawback’ compensation and bonuses paid to them in the past. A potential ‘clawback’ means a backlash from all sides- financial loss, reputation loss, plus an unhappy employee!

Microlearning: The Panacea

Considering such ever-evolving requirements, assessing and improving the Compliance & Ethics program can be done better with microlearning.

Microlearning offers speed, accuracy and sustainability to the Compliance & Ethics training initiatives! 

The reality is that Compliance and Regulatory requirements worldwide are getting tighter, and a lot more thought needs to go into Compliance & Ethics training. Potential lapses by an employee must be kept at bay being implementing risk-specific Compliance & Ethics learning programs.

Microlearning can make that happen incredibly fast and spot-on!

10 Tips to Integrate Microlearning to Create a Powerful ‘Compliance & Ethics Program’

Here are 10 tips on how microlearning can make it happen:  

  1. The biggest pre-requisite– Leaders driving Compliance & Ethics must be high on character with a clean past record i.e. clear conscious, and no criminal inclinations.
  2. Linking Compliance & Ethics program to compensation of employees, especially, the top executives.
  3. Better tracking of non-compliance with robust Compliance & Ethics programs based on accountability, backed by a deterrence mechanism. Especially, well-laid out and well-communicated consequences of non-compliance is a must-have.
  4. A risk-assessment exercise/evaluation must be done periodically. Timely action must be taken with every additional/new requirement enforced. A business must be able to efficiently plan and execute training programs on high risk, high priority, and high impact areas of concern. This must include adequate measures to refresh/reiterate the critical failure-points and learning goals to the existing workforce.
  5. A business must embrace being a ‘learning organisation’ where innovation, change and transformation of employee through microlearning is taken seriously by the leadership team.
  6. A business must have genuine buy-in & commitment from the top bosses, and not lip-service check-the-box approach to Compliance & Ethics initiatives. This means empowering the L&D team.
  7. Another imperative is to implement a microlearning initiative that puts the individual learner in the centre of things, across levels. A strong reporting, advice and guidance mechanism must always be in place for employees/executives and top-bosses.
  8. For a truly effective and efficient Compliance & Ethics initiative, you need an on-going microlearning initiative that’s risk-specific. This makes learning more targeted rather than general.
  9. A business must have a robust and top-of-the-line microlearning platform enabled by: 
    • A strong analytics suite that’s capable of analysing the impact Compliance & Ethics training has on employee behavior 
    • AI/automation capabilities for content creation capabilities (from inhouse and external sources), automatic learner-centric assignment capabilities, and gamification options among other things. 
  10. Embed microlearning snippets to train and reinforce with relevant case studies, videos, podcasts, and infographics, games, assessments/quizzes etc. These give real-life exposure to employees depending on one’s job-role. This makes learning/microlearning more relevant and interactive so that learning sticks, and is readily accessible when the situation arises.

MaxLearn Method of Microlearning: The Gist

MaxLearn Method of microlearning is a weapon that really works well to contain Compliance issues! It offers you a one-stop technology solution for effective microlearning enabled by a top-of-the-line microlearning platform.

It enables your learners differentiate the ‘correct’ from ‘incorrect’ on such matters!  

The MaxLearn Method of learning builds, sustains and fosters the right/desirable behavior, and nurtures your people in building Compliance & Ethics competencies to act confidently and fearlessly. 

MaxLearn understands how important it is to get Compliance & Ethics training right. Which is why the MaxLearn platform has all the required functionalities, features, and best practices embedded in the platform to deliver superlative outcomes, thereby, maximising Training ROI.

Besides being fast, fun, and effective, MaxLearn platform makes it easy to deal with the difficult aspects of Compliance & Ethics training like creation of content, delivering it to the learners, and keeping a track of employees’ learning progress.

The MaxLearn Method offers an adaptive learning experience. An experience that’s custom-made, personalised, and consistent with the learning styles, preferences, capabilities and job-roles of each one across levels/functions. This customisation makes learning relevant!

MaxLearn’s microlearning technology solution caters to the risk-specific approach while dealing with a learner’s forgetting curve. The platform helps you to easily and effectively administer ‘spaced repetition. This makes Key Learning Points of each microlearning lesson well-reinforced and recallable by each learner as per one’s risk-specific job-role.

Training pain points are taken care of with features like AI-powered content creation & delivery, offering risk-specific learning, personalisation, gamification, and real timevalidation of learning.

To conclude, Compliance & Ethics training becomes easy, effective and efficient with the MaxLearn Method of microlearning. This approach redefines the way organisations learn about Compliance & Ethics.

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