Episode 297 — Susan Divers on LRN’s 2023 Program Effectiveness Report
Susan and Michael discuss several important findings in LRN’s 2023 Report:
High-performing ethics and compliance programs rely principally on values to motivate and guide ethical and compliant behavior — LRN’s Report confirms again that ethical principles are more effective than reliance on rules-based controls. High-performing companies embed their values and promote them through their its code of conduct, policies and procedures, C-suite communications, training and onboarding of new employees.
LRN’s research confirmed — yet again — that ethical companies outperform companies in important areas: lower misconduct rates, employee loyalty, customer satisfaction, innovation and business growth.
High-performing ethics and compliance programs are embedded in the decision-making process of their companies — LRN’s Report underscores that high-performing companies have embedded their compliance programs in their business operations, and factor in ethical issues in normal business decision processes. Interestingly, almost 70 percent of respondents reported that consideration of ethics and compliance risks caused the company to substantially modify or abandon a business initiative.
High-performing programs make it easy for employees to access resources and place a premium on relevance — In response to remote working situations, companies have devoted resources to increase accessibility, simplicity and relevance.
High-performing programs innovate in designing and delivering training — High-performing companies are relying on innovative training programs.
High-performing companies are using data analytics to understand how employees interact with E&C training. Training analytics can include training time, course satisfaction, difficult topics and questions and employee comments.
High-performing programs focus on personal responsibility for ethical and compliance conduct — LRN’s Report identified the continuing trend in the importance of ethics and compliance behavior as a factor in performance reviews, promotions, key hires (managerial, executive or control functions) and bonus allocations. High-performing programs have increased the importance of ethics and compliance as an important factor in bonus allocations.
Susan Divers from LRN joins us for discussion about PEI’s 2023 Report.