Financial Considerations
In considering online compliance and ethics courses, you should consider the
following financial questions:
- Will online training be more expensive than instructor-led training?
- Will the benefits of the training outweigh its cost?
- Will online training be more expensive than in-person training?
Brightline Compliance's online training often is much less expensive than providing instructor-led training. With online training, you avoid the traditional costs associated with instructor-led training, which include:
- Fee to external trainer or salary of internal trainer
- Refreshment costs
- Cost to rent or maintain classroom space
- Production of handouts
Perhaps the greatest savings come from
the reduction in employee downtime. First, because of the individualized nature
of online training, the same training can normally be delivered in half the time
of instructor-led training. Second, employees can take the training at their
normal workstation so that they do not have to waste time traveling to and from
training sessions.
- Will the benefits of the training outweigh its
cost?
Research supports the
intuitive notion that effective compliance and ethics training reduces the
number of employee claims and the costs of resolving these claims. For example,
- After implementing an employment law training program, the State of
Washington enjoyed a 37% decrease in employment law related claims, which saved
the state an estimated $2 million per year.
- A healthcare company found that during the year following implementation of
a harassment prevention training program, the number of internal complaints of
harassment fell 36% and the number of litigated claims fell 41%. Significantly,
the total monetary costs of legal fees and settlement expenses fell by
approximately 49%, saving the company over $800,000 in a single year. The
company also found that employee turnover as a result of sexual harassment
decreased substantially.
Learn more about how effective compliance
and ethics courses help organizations save
money by reducing the costs of legal claims.
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