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 A culture of quality is crucial to reducing and eliminating exposure to risks including financial penalties, rescinded regulatory approvals and reputational damage.
There’s been a lack of clarity around what’s needed to comply with 21 CFR Part 11, the US Food and Drug Administration’s regulations for inspecting electronic training records held by organizations.
Implementing electronic signatures and being able to clearly audit their use has often been a considerable challenge for businesses in the life sciences and pharma sectors.
This is an essential requirement for companies in these sectors looking to comply with the FDA’S CFR regulations. In-depth and rigorous auditing is increasingly sought-after by organizations in other sectors too, such as healthcare.
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
Is your learning management system (LMS) truly global? In today’s fast-paced global environment, multilingual companies are challenged to deliver training in multiple languages to their global workforce.
Multi-language handling is a must-have for multinational corporations or any company managing learning and performance for a global workforce or a global partner network. Preparing content that targets a diversified audience or an audience that is multilingual is becoming more and more common.
In today’s fast-paced global environment, companies are regularly challenged to adopt and respond to new business and compliance requirements, quicker than before. The learning technology landscape is evolving quickly and the role of the Learning Management System (LMS) is changing too. Most organizations who invest in learning technology and e-learning are using an LMS – more than 700 learning management system vendors compete in the marketplace. In this context, it can be overwhelming for organizations to find the learning solutions that best fit their needs.
In this two-part post, we will discuss why Learning & Development (L&D) managers are not satisfied with their learning technology (and more specifically with their LMS). We will also provide some best practices on what you should consider when you select an LMS.