Keeping workforces compliant with legislation is a major challenge in the pharmaceutical industry – and failing to do so can be extremely risky. With a seamless integration of NetDimensions technology, one market leader’s L&D team ensured they could face compliance risk and meet the demands of regulators such as FDA and EMA.
The ability to manage compliance risk is expected to become more crucial than ever in the pharmaceutical and life sciences sector by 2020 .
Businesses need to protect themselves from the heavy costs of non-compliance. A culture of quality is crucial to reducing and eliminating exposure to risks including financial penalties, rescinded regulatory approvals and reputational damage.
Meeting compliance requirements is a key concern for many organizations, especially in highly-regulated industries. In this blog, we’ll take a look at the key features you can leverage in your LMS to help with compliance management.
New research from our sister companies, LEO Learning and Watershed, is now building a comprehensive picture of how L&D executives feel about measuring the business impact of learning. This blog takes a look at the key headlines and how you can start your own measurement efforts to get the most out of our learning analytics.
It’s been a question that’s been around for some time now: how can L&D actually measure the business impact your learning is having in order to prove ROI and other business KPIs? Recently, the rise of analytics tools and specifications such as xAPI have given us some pretty good answers to this question. The answer is essentially: use tools to collect data, then analyse it. Simple, right?
Banks. Insurance firms. Asset management companies. Organizations operating in the sea of financial services face more regulations than perhaps any other industry, constantly having to navigate the rule-based, compliance-driven, ever-changing waters in which they operate. Particularly in today’s global environment, these institutions must be able to comply with new rules, prove compliance and train employees to comply – and all the while, maintain a competitive edge. Not always an easy task. But with proper learning management, it can be done.
Putting yourself in the shoes of a financial services learning officer, charged with training and certification, how would you succeed given such an immense responsibility? What would be on your list of main concerns? Your list would, most likely, look something like this:
- Access to training data to track employee compliance for frequent audits
- Rapid delivery of training on Standard Operating Procedures to meet changing regulations
- Training to ensure compliance with local, state (if you’re in the U.S.), and global regulations such as anti-money laundering, Sarbanes-Oxley, anti-bribery and anti-corruption
- Alignment of certifications and training of new employees gained through mergers and acquisitions
- Reduced talent management administration costs to improve bottom-line results
The term “learning portal” is used liberally in the training industry, but what does it really mean?
By common definition, a portal is described as a gateway, doorway or entrance. Likewise, in computing it generally refers to a website that provides links or gateways to other websites. This idea affords businesses with the opportunity to consolidate relevant learning resources and tools into one location to accomplish a specific business or learning goal.
So, how is a portal different from a Learning Management System (LMS)? It’s a fair question with a fuzzy answer.
LMS’ such as NetDimensions Talent Suite are highly configurable and are capable of providing a portal-like experience using out-of-the-box functionality. However, organizations commonly configure their LMS as a one-size-fits-all solution to provide a superset of content and tools for many people within the organization, and covering many different subject areas.
A custom portal, on the other hand, provides a learning experience that targets a specific business goal, audience or subject area to deliver a focused, holistic learning solution. Today, we see that businesses are developing portals for multiple subject areas, including:
- New hire onboarding
- Sales training
- Service training
- Manufacturing training
- Compliance or technical training
- Extended enterprise and more
So what’s the big deal?