I recently had the opportunity to go onsite and do live training with a client. I enjoy opportunities like this, it's probably the favorite part of my job, because I get to see what compliance efforts look like from an entirely different perspective. I enjoy the back and forth banter and even getting challenged by the audience, which happens with great frequency in these sessions. The chance for me to see and hear firsthand how compliance collides with "real world" events is meaningful.  

This particular training included both sales, underwriting and collection teams, because management wanted each group to be exposed to the challenges that are faced by other departments. I think this approach is an effective strategy and in my experience can be pretty insightful.  

Right off the bat, as I was providing an overview of the various laws that apply to the business, we got into a great discussion about the company's underwriting policy and how it relates to equal credit opportunity and fair lending laws. It turned out there was some confusion about how certain scenarios were to be handled, and management learned it had to do a more thorough job of applying the policy into practice.  

Later on, there was a spirited discussion between sales and collections on the collecting of references and the process being used. As is often the case when collections and sales receive joint training, there was some tension going back and forth, but both teams ultimately gained clarity on the process and the challenges being faced by the other group. In fact, management learned a lot from the discussion and made a significant change to the process moving forward that it believes will drive efficiencies and performance.

These are two small but great examples of how there is no substitute for live training and the back and forth that takes place. Don't get me wrong, I'm also a supporter of online training and its own benefits, but giving your team the ability to ask questions and bring up practical scenarios is a great way to maximize the benefits of training.

So this week's tip of the week is to look for opportunities to conduct in-person or even live virtual training. The value can be substantial.

As always please feel free to reach out to us at info@ignitecp.com

Introducing Compliance Accountability Groups!

Simplifying Compliance, Driving Impact

Compliance Accountability Groups—a groundbreaking initiative designed to make impactful compliance more achievable. These groups will bring together dealership owners, managers, and compliance personnel to foster collaboration and shared success.

These groups provide a true peer-to-peer environment, connecting professionals who face similar challenges in safeguarding their businesses. Together, participants will collaborate, learn, and solve problems, with Ignite Consulting Partners providing expert guidance and managing the overall framework.

Not only will this initiative help members stay accountable and achieve real results, but it also offers an incredible opportunity to reduce legal and other expenses, giving you more resources to invest in your business.

Join us in transforming compliance into a tool for growth and success!. It is that simple.

Have you seen our updated online training site, 

Training Unleashed?

We took our decades of experience in compliance training and combined it with a digital platform to make education easy for you. We now have over 30 courses to choose from.

This is customized for BHPH and Independent Dealers. You pay based on the number of students. 

Sign up, supply a list of usernames with emails, and we assign the classes. It is that simple.

info@ignitecp.com

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