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By Julian Strudwick

“Compliance”…. buzz word that sounds good or just a pain in the backside?

Whilst the term compliance may sound very professional in general business dialogue, when you drill down to the core meaning can you truly say that your business is compliant in all aspects?

Quality compliance, HR compliance, Safety compliance, ATO compliance, Insurance compliance …. the list goes on.

When a potential client asks if you are compliant, the context should be understood before a response. Most responses from small businesses are likely to be yes. It can be risky particularly if the question in is in relation to insurance for example. Terms such as “waiver of subrogation”, cross liability, warranties, liabilities and endorsements serve to protect your client from as much risk as possible. Your own protection from risk costs money and to ensure you are protected (compliant), ensure your quote / rates / margin factor this in. You don’t want to lose your business (or house) by saying yes to satisfy a win without carrying out adequate due diligence.

On the subject of compliance, It was wonderful to have Andrea in the office today providing our team with candid dialogue with respect to compliance in education. Double standards don’t fly in the education sector and it is easy to get caught out therefore short cuts cannot be entertained in the pursuit of a quick result.

Mapping, outcomes, audits, KPI’s, feedback, registration, re-registration are all terms Andrea spoke of. It was enough to send the lay person running for the hills.

Get it right, do it well, be consistent, have robust policies incorporating change management processes. Read the fine print. Because it is fine doesn’t necessarily make it fine.

Thanks Andrea!

 


Julian Strudwick – WayPoint Training & Consulting.

 

 

 

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