Scientific studies suggest that choices create anxiety. Decisions made with a lack of confidence only exacerbate this anxiety.
Unfortunately, we know that streaming services – while practically essential to our sanity – are not all created equal. Netflix, Prime Video, Disney Plus, HBO Max, Hulu, Apple TV Plus, Peacock, CBS All Access, and countless others…where do you even start?
It is of course no surprise that we also have a plethora of compliance training vendors from which to choose. Enforcement agencies strongly advise routine (generally, annual) anti-bribery and trade compliance training for relevant employees. Adequate training can provide prima facie evidence of good faith efforts to sensitize employees. Really good training can also reduce risk, improve organizational trust, reinforce internal systems and controls, and ensure compliance with applicable laws – thus reducing the risk of fines, litigation, and reputational harm.
So…which one is best? While we have decades of collective experience with these vendors, the old lawyer adage is unfortunately correct: it depends. While most vendors are now automated and require little manual management on a day-to-day basis, consider the following as you filter through the morass:
Budget v. Effectiveness. Optionality, creativity, variety, and customization are costly. If you are budget-conscious, you may merely want to “check the box”. However, if you want to affect behavior, you’ll need to invest some time and resources to ensure that you speak precisely to your employees’ realities in ways that retain their attention and ensure learning.
Timeline. Are you under pressure to complete a training program? First, set your schedule based on internal and external needs. Next, filter against those who can match your needs most appropriately.
Focus. Companies should focus 80% of their efforts on the 20% of their business that generate the most risk. Do you want to focus on contract management or initial due diligence of third parties? Performance standards or exit strategies? Are data privacy, export controls, or conflict minerals sore spots…or generally irrelevant? Do you need basic or extensive training options?
Confirmation Bias. OK, this is a misnomer…but it is extremely helpful to confirm (via testing, certifications, or other means) that recipients understand and agree to adhere to your policies and applicable laws. Preferences in this arena may veer customers towards certain vendors.
Metrics. Many compliance leaders will present data to their executive teams and boards. Different parties will respond best to different metrics. Choose a provider that will most easily meet those expectations.
And, in summary: while we are not qualified to help you with your streaming concerns, we have abundant experience with different training vendors (and their platforms). Don’t be afraid to ask for help. (In fact, an initial discussion will be complimentary!) For help choosing the right program for you, or any compliance advice in general, contact the Wallenstein Law Group today. Our mission is simple: expert solutions at reasonable rates.