Excerpt from session:
Many organizations have compliance programs in place today. In most cases, these programs are pursued to both protect their organization and to help build a culture of ethics and respect. Yet, many programs are challenged by a lack of budget and resources, often as a result of the difficulty program leaders and administrators have demonstrating the value of it.
One of the biggest challenges companies face when figuring out the value and quality of compliance program is finding ways to measure quality and effectiveness. Often, companies focus on having numbers while measuring which can be easy to collect but missing the point. Many such numbers that measure things, like the number of trainings or money spent on compliance, offer little information on how effective a program is at reaching its goals. Because quality can be so challenging to measure, many companies just don’t do it, which can leave them at risk. There are specific methods companies can use to measure the quality of their program and the strength of their compliance culture.