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REDTRAY’s roundtable reveals what compliance managers really, really want!
London, UK – 28 April 2010: A compliance roundtable hosted by IT Training Outsourcing provider REDTRAY, delivered a consensus from the attending compliance managers and directors that the number one thing they want from their businesses is for their company’s leaders to walk the walk when it comes to compliance. Event attendees in London on 21 April agreed that if company’s leaders don’t visibly support compliance, the work of chasing up and enforcing compliance becomes a frustrating and ultimately futile experience.
The discussions were guided by insights from Ian Hancock Senior Manager in Deloitte’s Practice Protection Group on how to build a successful compliance culture. Colin Johnson of Forensic and Investigation Services at Grant Thornton led the discussion on what companies need to do to prevent falling foul of the forthcoming The Bribery Act 2010 and its wide–ranging implications.
As Colin explains, “The new Bribery Act is an important new extension of legislation which is likely to take effect later this year. Companies that have not put an appropriate training programme in place for the new regime will risk exposing themselves to unnecessary risk. This is particularly the case for companies with operations in any markets in which corruption is commonplace.”
According to Viv Cole, Professional Services Director at REDTRAY, compliance presents a difficult balancing act. “Businesses need to champion compliance internally, whilst arguing externally against the burgeoning of further compliance requirements which the IoD calculates costs UK businesses £80bn each year.”
“Legal and regulatory requirements are there (usually) for a good reason,” continues Viv. “But when it comes to chasing up those who have not completed mandatory training or e-learning, compliance departments need to know that the business is supporting them with real sticks and carrots such as non-completers get called in to explain themselves to their head of department, or completion is linked to salary/ bonus.”
The discussion also identified the number two thing that compliance managers wanted or valued, which was a good system to take away the pain of reminding and chasing people to complete their compliance activities. One participant described REDTRAY’s ALTO system with its Pursuit function as just the tool to do this.
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About REDTRAY
REDTRAY is one of Europe’s leading Training Outsourcing providers and the trusted partner of many FTSE 250 organisations. Established in 2001, REDTRAY develops innovative and award-winning workforce performance optimisation programmes and delivers them to tens of thousands of staff each year. Using the latest blended learning approaches REDTRAY enables its clients to develop the skills of its people so they can deliver on their business goals - whilst increasing the value of training and reducing its cost by half.
www.redtray.co.uk
For further press information, please contact:
Fiona Cousins,
OSMO Public Relations
T: 01252 850182
E: Fiona@osmo.co.uk
Marianne Falconer,
Marketing,
REDTRAY Ltd
T: +44 (0)2070 244862
E: marianne.falconer@redtray.co.uk
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