What you don’t measure could cost you everything. As boards and investors demand proof of effective compliance programs, savvy organizations are turning to key metrics to gauge their success. But in a sea of data, which numbers really matter? From root cause analysis to whistleblower reports, Ethico’s Gio Gallo dives into the essential metrics that separate the compliant from the complacent.
Measuring the effectiveness of your compliance program has perhaps never been more important, as boards, investors and key stakeholders all want to know how well your program is working. That means finding the metrics that matter, tracking them effectively and using them to guide your program implementation.
Some numbers matter more than others, of course, and your industry will guide that conversation, but there’s no substitute for determining the health and robustness of your compliance program and culture.
Good compliance metrics have several common qualities:
- Simple and easy to track without making mistakes
- Quantitative
- Qualitative
- Relevant within the context of the organization or department
- Specific
- Directional
Key compliance metrics to track
Having a good idea about your compliance goals and knowing what you’re attempting to accomplish will both be important to help you determine which compliance…
