Learn more about how compensation can reinforce compliance culture (or not)
Incentives in Compliance
What’s in this report from podcaster and compliance expert Tom Fox:
Many companies overlook the importance of compensation and incentives when it comes to reinforcing the compliance program and instilling a culture of compliance. They do so to their detriment, writes compliance expert and podcaster Tom Fox.
Among the most basic questions to ask, Fox writes, are the following, “… [W]hat does your employee compensation consist of? Is it a straight salary? Is it variable? If so, what does the variable component consist of? Is it a discretionary bonus based upon the overall success of the entire business enterprise or some small subset, such as a business unit or geographic region? Is it solely personal? Or is it some combination of all of the above?”
Learn more about tying compensation to compliance functions and how incentives may need to evolve as your compliance function becomes more central to your organization.