Compliance is the sole means of bringing about discipline in any place. The people in power design rules and regulations by virtue of which the employed are expected to function. Non-compliance with any of those set laws calls for penalties or punishments. It is hence the responsibility of every corporate entity to ensure that there is effective compliance management within their premises suggests Scott Tominaga, the chief operating officer at Partners Admin LLC since 2008. He has an experience of nearly 17 years in the subject and thus endorses the importance of the inclusion of compliance and its management.
Both the country and the state where a particular business operates enforces certain laws and norms that need to be adhered to; this act is known as compliance. It gives a proper direction to the business and thereby aids in its progress as well by keeping all lawlessness at bay. These are guidelines, which when abided by, help the company or organization to stay away from uncalled-for chaos and confusion.
An expert such as Scott Tominaga informs that compliance can be both negotiable and non-negotiable. This is made possible by the company managers themselves when they choose to add certain terms and conditions of their own that they want the employees to follow. These added rules become the negotiable ones. However, if it is a law, then it becomes non-negotiable.
Compliance can be exercised in two ways. The rules will always vary depending on the industry of the work. How a company would like to include the compliance policies is left for them to decide, but nonetheless, they must be included and followed as well.
- By laying down the law and becoming the enforcer of the law – empowering the staff with the knowledge of the rules and regulations of the company is of utmost importance if one wishes to achieve great heights in their business. For it is by knowing what the company expects of one will he/she be able to perform accordingly. It is thus, the responsibility of the management to ensure that the terms and policies of the company clearly define its legal compliance strategies. For example, if an employee happens to be neglecting in following the health hazard and safety compliance within the workplace, the management should step in and put a stop to it so that the other employees do not make the same mistake and put the company’s reputation in jeopardy.
- Allowing space for a little flexibility – Since there are negotiable compliance strategies as well, this is when the flexibility card can be utilized. The catch of the situation, however, is to be extremely judicious and then take a decision of how much flexibility could and should be allowed, advises Scott Tominaga. The management should take extra care to ensure that none of the employees take advantage of the flexibility that is being provided by them while at the same time not considering the employer to be dictating all the time.
Thus, boosting one’s business can be easily possible when compliance is managed correctly.