As executives prepare their budgets for the rapidly approaching year ahead, new research from the CEB Compliance and Ethics Leadership Council identifies five top trends based on feedback from compliance departments around the world.
Key Findings in compliance department staffing, spending, and activities derived from CEB’s full benchmarking report include:
1. Continued growth in overall staffing
Across all industries, there has been a 10% increase in full-time staffing since 2014.
2. Strong growth in program budgets per 1,000 employees
The median 2016 compliance and ethics budget is $135,848 per 1,000 employees, which has grown by 42% since 2014, when it was $97,000.
3. More training dollars allocated internally
Although staff salaries represent the vast majority of budget spend, compliance teams are reallocating the average 15% devoted to training, with less now going toward external vendors and more being used to develop training and communications internally.
4. Most time allocated to compliance risk management
The median program spends 41% of its time assessing and managing compliance risks and corporate culture. Notably though, most compliance programs do not allocate any time to management of corporate social responsibility.
5. A need to streamline compliance processes
As compliance mandates have expanded and demands on employee time have increased, streamlining compliance processes has become crucial to program success. However, the CEB found that compared to three years ago, there had been little progress in completing key activities such as conducting internal investigations.
CEB’s full benchmarking report dives into spending, staffing, structure, and activity trends and can utilized by executives as an input to inform their strategic plans for 2017 and beyond.
Click here to download a brief preview of the report (registration required).