So what is the issue with ‘compliance’? Has the word acquired a bad image or does it go deeper?
One of the issues – the decision makers in some organisations fail to admit that ‘compliance’ is relevant to what they do, whereas in fact every organisation has compliance obligations.
Forget the handle and move away from the concept of policing. The issue does not necessarily lie with the concept of compliance, the issue rests with not acknowledging and accepting that adopting a compliant culture can bring benefits.
Organisations that can’t see the gain unfortunately don’t acknowledge the potential of pain until it happens to them. Using the analogy of insurances, it isn’t common practice to wait, for example until there has been a theft or involvement in a car accident, to think about insurances; most of us buy the required policies to protect ourselves and/or our businesses in case the bad things happen outside of our control. In a similar way, using best endeavours to proactively implement compliance in an organisational environment is a means of taking control as well as protecting a business from the risk of serious compliance breaches that could, amongst other outcomes, cause injury, have a financial impact, damage reputation.
Why not take the benefits, which are manifold, and will ultimately make a contribution to the bottom line.
By the way, it is calculated to be far more costly to remedy a proven compliance breach than to be in control with the implementation of a compliance plan………….
The Compliance Essentials Team