Halfway Through the Year, Halfway to Compliance?
June is upon us, which means we’re officially halfway through the year.
It also means that any of those annual compliance deadlines you put off at the beginning of the year just became a lot more time-sensitive.
Don’t worry, though. To help you stay on track, this article offers tips on how to meet all those end-of-year compliance deadlines.
Learn From the Past (But Don’t Live in It)
Whether the first six months were astounding or abysmal, you can’t live in the past. If you’re driving down the freeway but fixated on the rear view mirror, you’re probably going to crash. It’s not healthy to dwell on past successes or past failures. You can, however, learn from them. Take a second to review the last six months. What did you do well? What could you and your team have done better? This is the perfect time to make changes to your processes to truly maximize your success in the home stretch.
Begin with the End in Mind
Fast forward to December 31, 2018. What needs to be accomplished before then? Oftentimes, we become so immersed in our current workload that we forget about what’s coming down the line. Six months is a lot of time to accomplish all the things you set out to do, but it won’t happen if you don’t start with a plan. We see this a lot with firm’s training programs. They become so focused on the here and now that they don’t even think about launching their program until December. By that time, a whole slew of other tasks have piled up on their desk that it becomes more about “getting it done” and less about improving compliance/employee performance.
I can’t stress enough the importance of blocking off your days. If you’re like me, if it’s not in my calendar, it doesn’t get done. By putting it on my calendar, I’m not only setting aside the time to prevent other things from taking over, but I’m also making a commitment with myself. Even if the task itself won’t take you a full six months to accomplish – start by mapping out your next 30, 60 or 90 days. Let’s take your training program, for example.
Schedule the following tasks in your calendar:
1.) In the next 30 days I’m going to perform my firm and individual Needs Analysis surveys
2.) In the next 60 days I’m going to confirm my employee headcount and make course selections
3.) In the next 90 days, I’m going to prep learning objectives and conduct my compliance meeting
4.) In the next 120 days, I’m going to launch Firm Element training, send reminders and track results
Do More with Less
As the role of the compliance officer expands today, it’s become increasingly more difficult to find time to do all the things you have to accomplish in 365 days. Technology can ensure that you (and your team) are getting the most out of every minute. Instead of attempting to be the jack-of-all-trades around the office, focus on being the master of managing your compliance program.
Regardless of how the first half of the year went for you, you’ve got a blank slate awaiting the second half. What you do with it is entirely up to you.