How L&D can unite Compliance and Sales via Formal & Informal Learning
Some experts are predicting a recession to hit the US by the end of 2022. Some say we’re in a recession already. In either event, it’s clear that other economic indicators certainly put businesses on notice to expect some level of continued downturn. History tells us that downturns often mean more pressure on companies’ sales teams to produce more. For global companies with far-flung sales reps, some of which may be independent contractors, economic downturns pose compliance risks.
Pressure to close deals may present temptations to sales representatives to cut corners to close deals. This corner-cutting may range from the innocuous to the more serious, including variations of bribery to accelerate the closing of significantly-sized deals. In one earlier example, a large retailer got into hot water with regulators for using a contact dubbed the “sorceress” for their ability to expedite government permits quickly. If discovered by government regulators – and not just US regulators – deals closed using bribes, known conflicts of interest or other quid pro quo favors may result in disgorgement of all revenue received by the company, on top of any government-issued fines.
So how can L&D play a role in uniting compliance and sales? This is a time for compliance and sales operations to be working together with L&D departments to reinforce the message that winning business correctly is a win-win. What does this look like? A few ways:
As part of your next sales training or sales enablement session, invite your compliance leader to the session to highlight the risks posed by winning business improperly. (Compliance leader: if asked to do this, understand your role is to put in place appropriate guardrails, not to be the department of “no”)
Include, as part of your learning platform, video role play scenarios that show the various situations in which salespeople might find themselves – and how to respond appropriately, including knowing when to walk away from a deal
Reinforce those compliance messages by investing in a tool that measures the assessment of sales skills, within which those compliance messages can be reinforced
Consider having your company’s vendor partners, channel partners, and other related third parties also certify completion of an anti-bribery training
Economic uncertainty will add stress to everyone. L&D can play a crucial role by supporting and facilitating continual skill development through skills assessments and upskilling initiatives. L&D pros can also find ways to unite teams with learning opportunities, mentorship, and by defining the expectations of everyone’s roles through a competency assessment.
