KUALA LUMPUR, Sept 20 (Bernama) -- Best practices are rapidly converging around the globe when it comes to ethics and compliance (E&C) programmes, according to the new Global Standards Edition of the Ethics & Compliance Program Effectiveness Report from LRN Corporation.
In particular, five key characteristics appear most significant when it comes to ensuring an organisation’s E&C programme achieves true impact, according to a statement.
Amalgamating the past four years of data from its annual flagship research (2020 – 2023), the newly released report from LRN identifies the five major attributes of the world’s most highly effective E&C programmes.
More specifically, high-impact programmes tend to be those that rely on values; are embedded in decision-making; are accessible and relevant; innovate in training design and delivery; and prioritise personal responsibility.
“In looking back over the last four years of our research on what makes E&C programmes effective, we can say with confidence that companies’ ethics, culture, and values do matter.
“Our data not only documents the necessity of this convergence but the need for all organisations to implement best practices in the face of increased regulatory scrutiny. At LRN we strive to fix that gap in hopes that we can help set a worldwide standard for the benefit of the entire E&C community,” said LRN Chief Executive Officer, Kevin Michielsen.
Meanwhile, LRN senior advisor and lead author for the Program Effectiveness Reports, including the Global Standards Edition, Susan Divers said it is imperative for companies to diligently allocate ample resources and authority to their organisation's E&C programmes in light of global regulators' heightened focus on holding accountability and the dynamic emergence of intricate risk.
“This necessity is particularly underscored by the findings in our report, which illuminates the increasing convergence of best practices across borders and the far-reaching influence of US regulations on E&C programmes worldwide,” she said.
The 2023 edition of LRN’s yearly Program Effectiveness Report, originally released in February, was based on responses from more than 1,850 E&C professionals globally at organisations with over 1,000 employees. Spanning 26 industries and 10 different countries, it is the largest and most comprehensive research of its kind.
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