Employee compliance is when employees follow the laws, regulations, company policies, and ethical standards that govern their workplace. It’s important for several reasons:
Protects the company
Employee compliance helps protect the company from legal issues, fines, and lawsuits.
Creates a safe and fair workplace
Compliance helps ensure that employees feel respected and that the workplace is safe.
Maintains a positive reputation
Employee compliance helps maintain a positive reputation for the company in the industry.
Improves efficiency and productivity
Adhering to laws and regulations helps ensure fairness, transparency, and accountability, which can lead to improved efficiency and productivity.
Employees are a critical component of any firm’s growth – working with clients, running behind the scenes operations, and making the day-to-day functional. They can also be one of the most significant points of compliance risk. Employee compliance involves the monitoring of activities and mitigation of risks associated with employee trade monitoring, outside business activities, political contributions, and more.
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