“The ROI of Compliance is demonstrating the value of compliance by leveraging metrics, adding efficiencies, searching for better processes, and building tangible programs to mitigate risk to give back to the organization.”
— Lynn Haaland, Senior Vice President, PepsiCo Deputy General Counsel, Global Chief Compliance and Ethics Officer, and Chief Counsel, Cybersecurity at PepsiCo
Organizations must design compliance programs to do more than ensure regulations only ‘check the box.’ Instead, compliance and ethics programs should be strategic and add value to your organization with a positive ROI. Proving the value of your compliance program requires tracking and measurement. But what should you track, and how can it be done? This week, we explore the importance and considerations of measuring the value of your compliance program.
How To Show The ROI Of Compliance At Your Firm
Compliance officers must proactively demonstrate value to their organization, protect their company’s reputation, and comply with various rules and regulations. After all, no one wants to be seen as a cost center that isn’t adding to the organization’s profit. But is there an ROI of Compliance? Lynn Haaland thinks so. In this interview, Haaland discusses how to achieve a culture of compliance, how organizations should train their employees to make ethical decisions, how to show the ROI of compliance, and more.
Tracking Ethics and Compliance Program Performance – Part 1 (Click here for Part 2)
To show the ROI of your compliance program, you must determine what to track and what data to present on a compliance dashboard. The purpose of a dashboard is to assemble a relevant list of measurements, assign a frequency for collection and review, and establish a basis for compliance trends. Explore a recommended list of compliance topics and suggested measures that you should include in a dashboard.
How to Make the Business Case for Compliance and Ethics Program Investments
Looking at employee attrition as one metric, toxic culture cost U.S. employers an estimated $50 billion annually before the Great Resignation. If you’re an HR or compliance leader, you understand the widespread risks of toxicity and the upside of great company cultures. But to build a successful program, you need buy-in from the business, a strong business case, and the ability to prove these investments will have a positive ROI. Explore the real cost of toxic workplace culture and comprehensively covers how to make the business case for compliance and ethics program investments.
Measuring the Strategic Value of a Compliance Program
In many companies, executive management views compliance as a cost center, disconnected from growth instead of intimately aligned with achieving the organization’s long-term interests. So how can compliance be made more strategic? Considering compliance as a competitive advantage, getting proactive with predictive insights, and ensuring the compliance officer sits on the executive team are a few ways to get strategic. In this article, several compliance leaders weigh in on how to measure the strategic value of a compliance program.
