Compliance Training Becomes Increasingly Important in the Wake of the Economic Crisis

Top Quote In the wake of the economic crisis, it has become imperative for companies to ensure that their employees are aware of and compliant with regulations governing their industries. End Quote
  • (1888PressRelease) August 28, 2011 - Palo Alto, CA - Paris based telecommunications giant, Alcatel, was recently in the news for being fined an estimated $130 million for paying bribes to consultants in Central America and Southeast Asia. An article by the McKinsey Quarterly reports that the pharma industry has lost in excess of $700 million in fines since 2001, not to mention the billions companies have lost in revenues as a result of bad publicity.

    As the economic recession continues to wreak havoc across industries, companies are now realizing the importance of sensitizing their staff with compliance issues through compliance training ( ). The need to be made aware of regulations governing their respective industry spans employee levels, right from the lower and middle rung to CEOs and Managing Directors.

    Thanks to the internet, it doesn't cost much for the end user to bring out the misdeeds of companies out in the open. Besides helping companies safeguard their interests and reputation, a compliance program also helps companies ensure that they follow ethical business practices. It also helps create an atmosphere where quality comes first and it is the duty of every employee, including senior leaders, to ensure that they are accountable for their actions.

    Every compliance training program involves three basic areas: compliance with respect to the law governing the industry, compliance in terms of business practices and compliance with respect to occupational health and safety hazards.

    "A lot of companies are now realizing that it's better to bear the cost of compliance training than to bear the cost of corporate fraud, not to mention the legal costs involved in a corporate fraud," says a spokesperson for ComplianceOnline, a company that imparts online regulatory compliance training to professionals and employees.

    Healthcare compliance, OSHA compliance, laboratory compliance, clinical compliance, compliance in banking, financial services and insurance…the list of issues that corporate companies should be compliant with are varied and complex.

    About ComplianceOnline:

    ComplianceOnline is a Palo Alto-based leading provider of regulatory/compliance trainings for companies and professionals in regulated industries. ComplianceOnline has successfully trained over 15000 professionals from 3000 companies to comply with the requirements of regulatory agencies. Its training programs are designed and delivered by top-rated experts from respective industries and are proven, powerful and highly rated by industry practitioners.

    ComplianceOnline's trainings cater to FDA regulated industries - Biotechnology, Pharmaceuticals, Clinical, Medical Devices, Food, Hospitals & Healthcare - Energy, BFSI, Trade and Logistics, HR and Quality compliance and more.

    Please visit or call +1-650-620-3937 for more information or to register for trainings.

    For more information please contact:

    A Reuben Bernard
    Manager of Program Marketing
    2600 E Bayshore Rd
    Palo Alto CA USA 94303
    phone : 650-620-3937
    Fax : 650-963-2530
    Email : reuben ( @ ) complianceonline dot com
    Web Site :

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