What is Policy Management?2018-10-18T10:54:50+00:00

What is Policy Management?

Like the many gears that keep machinery running efficiently and working together, an effective policy management program involves many moving parts. Trying to wrangle these parts on your own, without help from a software solution, is no longer an option. Unless you want to leave your company exposed to risk and increased litigation from employees.

The best place to start with policy management is with the best practice wheel. An intuitive, easy-to-use solution should automate these best practices for you, so you can keep up with the complexities of managing policies and procedures.
PolicyHub

Develop

To create an effective policy management program, you need to create a centralized repository where you can develop, create and maintain policies. This repository should serve as the hub to keep all your policies easily accessible, with an audit trail trailing behind.

Review

With a central hub for policies, monitoring your policy management program becomes easy and intuitive. Set automated workflows for new policies to make sure the right people review the right policies at the right time before a policy goes live to your employees.

Automatically ensure version control so approvers only see the most recent version of a policy, making the review process a breeze.

Publish

Publish your policies quickly and get them in front of the right people in an easy-to-use fashion, no end-user training required. Determine the right way to communicate and trigger automatic workflows that send policies only to the people who need to understand and attest to them.

Stop wasting employee time by publishing everything. Instead, only share policies with the specific job titles that need them, without extra effort on your part.

Affirm

With the right tool in place, management gains real time insight into who has accepted which policies, which version of a policy and when they affirmed receipt.

Affirmations help enforce your compliance program from the top down. They enable employees to understand the core values of an organization, as well as opt into them, aligning everyone from leadership down to the most entry-level employees.

Assess Knowledge

Policies will never work properly if the people who create them don’t have insight into whether or not they’re communicating effectively. It’s therefore critical that leadership knows if employees understand their policies and procedures. The only way to gain this insight is to assess an employee’s knowledge through testing their understanding.

These assessments empower leadership to address knowledge gaps, remediate, review and change procedures as needed – all within the same system. It also automates routine surveys, to test that employees are putting those policies into practice.

Report and Audit

Ultimately, regulators want to see evidence that your compliance program is effective. Through your policy management solution, you should be able to quickly understand if your organization is protected, if you can prove that employees understand and comply with regulations and whether you published your policies in a timely fashion.

In other words, you should be able to wrap up everything you’ve done and demonstrate your program’s effectiveness by providing a full report, including a report on your surveys and test results.

Summary

While some people try to manage this process manually, the manual approach just doesn’t supply the level of robustness and detail you need to prove compliance to today’s regulators and build a defensible compliance program. Not to mention, that manual approach? It’s a waste of time and efficiency (and therefore, money).

What are you waiting for?

Explore the platform that powers 30% of the Fortune 500.

This website uses cookies and third party services. Ok