In our second annual policy management benchmark report, which will be released first to everyone who registers for our upcoming webinar, we’ve uncovered new trends and insights that you can put to work in your program today.
We wanted to provide a sneak peek of our survey results, which reflect input from nearly 1,000 ethics and compliance professionals around the world, and offer important insights about this evolving component of a high-performance ethics and compliance program.
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Keeping Policies Up-to-Date (And Training Employees on Them) Remain Biggest Policy Management Challenges
For the second year in a row, compliance officers indicate that their top two challenges are keeping policies up-to-date and training employees on policies. The third biggest challenge is related to keeping up-to-date: improving version control.
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Most Organizations Not Very Satisfied With Their Existing Policy Management Program
When asked to assess their policy management programs, less than 40 percent of respondents ranked any attribute of their system Very Good or Excellent. Both policy communication to employees and third parties and policy defensibility received particularly low ratings. 70 percent of all organizations consider their system either Basic or Maturing, while only 17 percent consider their system Advanced.
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“Silos” or Unclear Owners of Policy Management Contribute to Dissatisfaction
More than 50 percent of respondents’ organizations have seven or more departmental stakeholders that have some level of “ownership” of the policy management program and the budgeting process.Shared ownership is a possible contributor to the lack of sufficient funding for policy management improvement including the acquisition of an automated system.
Join us for a live webinar on May 24: our experts will provide additional insights and answer questions about the 2016 Ethics & Compliance Policy Management Benchmark Report.
View original article at Ethics & Compliance MattersTM
