The 2024 Gartner Hype Cycle for Legal, Risk, Compliance, and Audit Technologies has recognized Microsimulations as a gamechanging concept set to transform how organizations approach compliance training. Microsimulations are designed to make training more engaging, realistic, and tailored to the unique needs of each company.
A well-designed compliance program is appropriately tailored to risk, role, guidance about misconduct and accessibility, and continues to improve the effectiveness of compliance training. The compliance training solutions market has not yet been able to provide the level of customization required by CCEOs to demonstrate that employees both understand and are able to act on information presented. Microsimulations allow an organization to assess both individual and team responses to specific use cases.
Pioneering Compliance Training Solutions
We’re proud to be at the forefront of this innovative approach to building the muscle memory for effective compliance. Our compliance training Microsimulations create realistic scenarios that help employees practice and reinforce the decisions they’ll need to make in their roles.
This approach goes beyond traditional training methods, ensuring that employees not only understand compliance policies but are also ready to apply them in real-world situations.
Vendor-produced compliance trainings often do not meet the expectations of Chief Compliance and Ethics Officers (CCEOs) and may fail to effectively educate employees about compliance risks. While these pre-packaged solutions can provide a general overview of core compliance concepts, CCEOs find they often lack the depth needed to meet specific training goals, fully convey company policies, and inspire lasting behavior change among employees.
Many CCEOs have already started incorporating Microsimulations into their compliance programs, such as “What would you do?” scenarios, which have proven to boost engagement and retention. Microsimulations help these teams scale the effectiveness of these in-the-moment exercises and gameplay to help employees to practice and reinforce the desired behaviors.
iluminr Microsimulations help organizations build stronger, more effective compliance programs by providing employees with the tools they need to navigate complex regulatory environments confidently.
5 Steps to Embrace the Future of Compliance Training
Compliance training microsimulation solutions help an organization develop “muscle memory” for processes and solutions to meet compliance objectives.
For organizations looking to enhance their compliance training, here’s how you can get started exploring the benefits of Microsimulations:
- Evaluate Your Current Training Programs: Assess the effectiveness of your current compliance training. Are your employees engaged? Are they able to apply what they’ve learned in real-world scenarios? Identify areas for improvement.
- Explore Microsimulations with iluminr: Consider partnering with iluminr to introduce Microsimulations into your training strategy. Our solutions can be tailored to address the specific risks and challenges of your organization, making your training more relevant and impactful.
- Start with High-Risk Areas: Implement Microsimulations in areas of your organization where compliance risks are highest. This targeted approach allows you to see immediate benefits and gather data on the effectiveness of the technology.
- Integrate into Ongoing Training: Make Microsimulations a regular part of your compliance training program and operational rhythm. Continuous learning helps reinforce desired behaviors and keeps employees prepared for new and evolving risks and challenges.
- Measure and Refine: Track the impact of Microsimulations on employee behavior and compliance outcomes. Use this data to continually refine and improve your training programs.
Setting a New Standard
Regulatory scrutiny on the effectiveness of corporate compliance programs is increasing. However, a common variable in corporate compliance is employee behavior and how this behavior ties to organization values and policy. Scenario modeling and microsimulations are proven methods in enterprise risk management and business continuity that enable organizations to better reduce risk. They allow organizations to take into consideration variables that are not captured in traditional training methodologies.
As Microsimulations gain traction, organizations that adopt this technology will be better equipped to meet the demands of today’s regulatory landscape. iluminr can help you build a more engaged, prepared, and resilient workforce—one that is knowledgeable about compliance and also skilled in applying that knowledge when it matters most.
Interested in how iluminr can help you illuminate the future of your compliance training? Book a Microsimulation for your team.
