Speaker 1: How confident are you that your employees understand your compliance policies and procedures and know when to do the right thing when tasked with a hard decision? And how do you provide meaningful metrics to your board and leadership to show that your compliance program has been a sound investment? Well, in this video, I'm going to provide you with six innovative ways to measure your compliance program effectiveness. Effective measurement of your program can reduce not only financial costs, but opportunity costs as well. It reduces financial costs when you identify systems and processes that provide little to no value, and it reduces opportunity costs by aligning training more specifically to employee risk so they don't view training as a check the box exercise, but see what the risks are in their specific roles. Bottom line, finding ways to accurately measure your program would lead to a more effective and efficient compliance program. So what are the six ways to measure your program to provide real and tangible value? Tip number one, remote polling devices. With these devices, you can use them before training to check and see where the knowledge base is with the employees that you're training. And then you can do another set of polling at the end of the training to see if their knowledge increased on the areas in which you train. You can also use them during your training to do scenarios and quizzes or pulse checks after you trained on each section. It's a good real time indicator of if there is a knowledge gap where you can go back and review the areas where people are not polling that well. Tip number two, feedback forms. This is another way to get immediate feedback on the effectiveness of your training. You can provide a hard copy or send out a link after the training, and you're asking about the quality and effectiveness of the training program. So you'll be asking if the content was valuable, as well as how much the employees learned and will put into practice. This allows you to look at your training and see how effective it is and whether or not you need to make any revisions to make it either more role specific or clarify some concepts that maybe people didn't quite understand. Tip number three, online metrics. Most companies have a website and on that website, departments have different intranet pages. If you have an intranet page, you should ask your communications and marketing department whether or not they can pull your online analytics. This will let you know how many visitors you're getting to your site, how many are actually looking at your policies and your tools, and is that number increasing or decreasing month after month. Tip number four, measure your hotline engagement. Has there been an increase or decrease? Neither is worse than the other. An increase will let you know that employees understand your policies and know the right and wrong things to do and have concerns about suspected misconduct. A decrease could be a good thing if you've had a history of issues and you've done training and now you see less reporting through your hotline. You can also provide metrics to your board on the number of reports that you're receiving through your hotline and what types of complaints that you're receiving, where it falls in your organization. For example, are you receiving a lot of complaints about senior management, middle management? Is there a particular office that seems to be getting a lot of complaints? These are valuable metrics that you can provide, but also keep an eye on month after month to see where the change takes place. Tip number five, using performance appraisals and scorecards. Did they complete their required training? Did managers set the appropriate tone from the top? Did they discuss ethical moments during their meetings and how often do they speak on compliance and ethics topics and reinforce your policies? Tip number six, audits and assessments. These can be done either internally or externally. The purpose of the assessment is to evaluate your compliance program and provide a scorecard, which states how effective your program is at ensuring employees not only know and understand what policies and procedures apply to them, but where they can find those policies and tools, what local laws apply, and how they report suspected misconduct. The bottom line is you're looking to see whether or not the policies and procedures you have in place are adequately identifying and mitigating the risks that you have in your company. Evaluating and measuring your program can help you identify redundant and ineffective procedures that can be replaced or eliminated. It would also help you to review your policies and procedures to see whether or not anything needs to be revised or updated to ensure that you are truly mitigating and managing the risks that you've identified in your company. I hope these tips have been helpful and please share with some of the measurements that you use for your program. Thanks for watching.