Four tips for SMEs taking their first steps towards improving compliance:
Starting is always hard. With these four simple tips, your company can set the right course for better compliance.
- Define at least one specific person in the company who will deal with compliance issues. At the beginning this could be someone on the management board or in the legal or human resources department. Some companies establish a position responsible for compliance from the offset. It is important that you communicate this new position to all employees and explain their role.
- Conduct a risk assessment to identify the most significant risks in the company. Then develop measures to mitigate the most significant risks. You may not be able to eliminate all risks at once but it is important to draw up a roadmap with the next steps.
- Provide your employees with a channel where they can report any wrongdoing confidentially (see whistleblowing system above).
- Promote an ethical corporate culture. To do this, involve the human resources department from the outset and provide regular training for employees and managers.