Business Risks Are Becoming More Complex. How Should You Adapt?

The risks organizations face have become increasingly difficult to identify, manage, and avoid. Add to this thin budgets and lean compliance teams, staving off misconduct isn’t easy today.

A 2024 Accenture Risk Study shows 83% of leaders say “complex, interconnected risks” have become more prevalent and 77% are struggling to manage these risks. 

Given the constant change and increasing complexity, very few believe their organizations manage risk effectively. From the study: 

“…just 14.5% of the organizations surveyed have advanced levels of risk management capabilities...”

However, leaders are working to fortify their organizations, protect their employees, and comply with mandates. 

To do this, many plan to invest in new technology, which is essential to building an effective, sustainable, and scalable compliance program that meets regulatory standards. Risk leaders are also prioritizing training their teams and workforce. 

This is where Skillsoft can help. 

Today, we’re announcing our new Compliance Suite — a dynamic, intuitive training solution that will help improve how organizations identify and reduce risk.

In listening to our customers explain what they need from their compliance training, we found that learners and administrators want more flexibility, more personalization, and more insight into outcomes. 

Traditional compliance training continually falls short in these areas. 

It’s rigid, offering one-size-fits-all training. It also makes it tough to drill down into the risks linked to individuals, preventing organizations from thoroughly understanding what they’re up against.

That’s why we set to work developing Skillsoft’s Compliance Suite, which centers personalized, risk-based training. 

This approach delivers compliance training to individuals based on their risk profile and then helps administrators analyze and understand the impact of the training — a stark contrast from the traditional way. 

What’s Different from Skillsoft’s Previous Compliance Training? 

For a long time, Skillsoft’s compliance training wasn’t fully integrated into Percipio, creating roadblocks to reporting and connections to learning management systems.

Not anymore. 

Skillsoft’s Compliance Suite brings all training material — served in 35+ languages — into Percipio. Compliance training launches inside the platform, creating a seamless experience for learners and administrators.

The Suite will also include a range of dashboards to help assess risks and measure training efficacy. The dashboards will yield more insights that compliance professionals can use to spot elevated risk areas, analyze performance, and report to stakeholders. 

What’s Included with Skillsoft’s Compliance Suite?

Percipio-native Training — Skillsoft’s entire compliance curriculum is in Percipio, improving the experience for both learners and administrators. In the months ahead, administrators will have more opportunities to customize courses, issue assignments in more languages, and connect this training to their LMS.

Risk Analytics — Available right away is a dashboard to help show completion rates, but more advanced dashboards are coming in the months ahead. These additional dashboards will reveal learner behavior, skill assessment scores, and engagement levels, helping compliance professionals become more proactive in their efforts to serve timely and relevant training.

Dynamic Content — Part of running an effective compliance program is delivering risk-based training. Is the training relevant to the individual based on the risks associated with their role, where they live and so on? That’s where Dynamic Content comes in. This time-saving feature was developed in response to the heavy workloads that many administrators struggle with when standing up complex training programs. Dynamic content greatly reduces the build time of highly personalized training. 

As the risks to organizations multiply, compliance professionals must adapt. 

Only, it’s easier said than done. 

The Accenture report mentioned earlier shows 72% of risk leaders say they can’t keep up with the change. 

Compliance teams are spread thin. For some, budgets have taken a hit. All the while, risks — new and old — continue to surface and the standards for compliance have never been higher. 

So, how do you develop a well-designed, well-thought-out compliance program that goes beyond checking the box?

Skillsoft’s award-winning compliance curriculum has helped organizations keep pace with emerging risks, laws and regulations. 

“With employees serving 73 markets in 26 states, each having a unique set of compliance training requirements, the Skillsoft Compliance Suite is invaluable for our company," said Lori Thompson, Director of Human Resources for national media company Lee Enterprises. "Dynamic Content allows us to easily manage the complexities of different state regulations and deliver the right training to the right employees at the right time. It’s a win-win for administrators and our talent.”

Now, we take another step forward in our journey to serve our customers and support their efforts to keep employees safe, stay in line with mandates, and reduce their chances of suffering the damages of non-compliance. Skillsoft’s Compliance Suite will reveal the finer details of the risks that organizations face today and provide more ways to combat them through learning. 

Reach out to see how our Compliance Suite can help you.