By Narelle Davidson

Opportunity #1 – Invest in compliance resources

Opportunity #1 – Invest in compliance resources

Resourcing compliance can be costly in terms of time and budgets.  Failing to invest in compliance resources can be a liability with potential for financial loss and reputational damage.

Compliance happens when your venue meets with its obligations.  These obligations can include legislative requirements, codes of practice, standards and even venue policies and procedures.  Compliance shouldn’t be a burden; however, for many, it is. Compliance should align to the core values of the business.  Compliance is driven by leadership.  Team engagement results in compliance.

We need practical, simple and credible solutions to assist in meeting our compliance obligations.  We need systems that add value to our everyday operations.

Why invest in compliance resources?

A good compliance management system should prepare the business to meet its compliance obligations. The compliance management system should provide an accessible knowledge base and customised information for authorised team members that will help them to perform their role and meet standards to ensure compliance.

ISO 19600:2014 provides guidance on the establishment, implementation, evaluation, maintenance of an effective and responsive compliance management system.  These guidelines can help with the principles of good governance, sustainability and ensure the long-term success of your venue. Like anything, it will take time, effort and human resources of specific skills to implement this standard to your operations and procedures.

In order to manage strategic and regulatory compliance obligations as efficiently as possible, a centralised system is best.  The benefits of implementing a compliance management system can include:

  • Leadership focus
  • Improved and informed planning
  • Business support and organisational knowledge retention
  • Greater control of documented information
  • Improved operational planning and control
  • Improved communication
  • Performance evaluation
  • Continual improvement.

Investing in an implementing a centralised management system provides an organised repository for policies, procedures and practices including training, incidents and reports.   It will ensure that every team member has access, to important compliance information they need to be prepared and deliver results.

A centralised management system is a compliance resource that cannot be overlooked.