Compliance management: What it is, how it works & why it's important
We all follow rules as we go about our lives. Some are enshrined in law. Others are social codes, and some rules we set for ourselves. It’s no different for businesses. There is a barrage of requirements between regulations, industry standards, client and customer demands, and governance policies. Adhering to all these requirements is called “compliance.” Workforce compliance is crucial to avoid financial penalties, build stakeholder trust and grow the company.