In today's fast-paced business world, staying compliant with ever-changing regulations is crucial for the success of any organisation. To meet this challenge head-on, effective compliance training programmes must not only be up-to-date and informative but also engaging and innovative.
Understanding innovative learning
One of the key takeaways from our research was the significant interest in innovative learning methods among compliance leaders. Concepts such as diagnostic assignments, nudge learning, and embedded learning received high praise, with between 68% and 86% of respondents rating them favourably.
It is evident that compliance professionals are seeking ways to enhance employee engagement and reduce the training burden through these forward-thinking techniques.
Additionally, there was a growing enthusiasm for the integration of AI technologies in compliance training. AI-powered tools, such as at the learning portal level and AI-powered in-course tutors, received positive feedback from respondents, signalling the potential to streamline training processes and improve learning outcomes.
Moving from traditional to enhanced training
Over half of respondents to our survey felt the one size fits all industry approach was one of the biggest challenges to the future of training, alongside a lack of engagement from participants. With the regulatory landscape constantly evolving, the traditional approach to compliance training is becoming outdated.
Personalised and tailored training solutions are now the expectation, and compliance and risk managers need to adapt to meet this demand. Our research provides valuable insights for these professionals to navigate the challenges of compliance training effectively.
Effective compliance training in financial services and law firms offers numerous benefits, including enhanced risk management, improved employee awareness of regulations, increased operational efficiency, and heightened reputation and trust with clients.
By providing employees with the knowledge and skills to navigate complex environments, organisations can reduce compliance violations, mitigate risks, and uphold ethical standards. Additionally, it’s important that employees are equipped to identify and report potential compliance issues, fostering a culture of transparency and accountability within the firm.
The future of compliance training
By leveraging the insights from our survey, compliance and risk managers can enhance their training programmes with innovative solutions such as diagnostic assignments and nudge learning.
These tools can help boost employee engagement, strengthen compliance cultures, and ultimately drive business success.
The future of compliance training is poised for innovation. Leaders are hungry for personalised, engaging, and innovative solutions, and the potential of AI in compliance training is ripe for exploration.
These developments will improve compliance training, making it more engaging, efficient, and tailored to the evolving needs of organisations in the financial services and legal sectors.
Looking for more compliance insights?
We have created a series of comprehensive roadmaps to help you navigate the compliance landscape, supported by e-learning in our Essentials Library.
We also have 100+ free compliance training aids, including assessments, best practice guides, checklists, desk aids, eBooks, games, posters, training presentations and even e-learning modules!
Finally, the SkillcastConnect community provides a unique opportunity to network with other compliance professionals in a vendor-free environment, priority access to our free online learning portal and other exclusive benefits.
