Annual Policy Review and Updates... Fun Times!
In line with ever-evolving technological and legal updates, it’s imperative that compliance officers, as well as the HR department, carry out a thorough annual review of company policies and guidelines. So much can happen in a year, and it is important that policy changes are fully comprehended and understood by all employees.
At ETHIX360, we see the need to continually be in sync with changes, engaging all stakeholders and clients every step of the way and ensuring that we provide value-add.
The importance of making regular reviews and revisions to company policies is a top priority. This action ensures that the team can identify gaps in the policies they have and decide on next steps - whether to keep as is or update with the times.
Below are a few takeaways on why you should have annual policy reviews and updates:
To build a sense of loyalty among employees and teams.
To remind employees of the specific details concerning their policies and, of course, how to act in the workplace (both in person and in virtual offices).
To create an identity for the company and its purpose and mission.
To reassure your stakeholders as to why they're reviewing and following the policy.
Taking time with your team to review policy statements could be quite time-consuming, but the benefits outweigh any of the challenges that could occur as a result.
We suggest that our clients carry out a policy review on an annual basis because a lot can occur in the period of a year. The team should be in the know with issues like updated procedures, changes in job descriptions for employees, changes in expenses, etc. If a policy is missing, or a new one needs to be created, this is the time that gap can be identified.
Aren’t Annual Policy Reviews Fun!
The means of communication is an important feature as it could decide the acceptability of the policy review. No one wants to sit down and read through 2,401 pages of policies and procedures - that would be boring!
Here are some ways to make this whole process more fun and engaging:
Update your policy management system. This is 2021. Gone are the days when we would have clients read from sheets printed and stored in binders. To align the team with these policies, you may have to share them through formats that your team is well versed with. Sure, policy manuals and handbooks still exist, but there’s an easier way to manage the process.
Train on policies. Educational videos from way back can be very boring. Remember when the relief teacher from high school would bring in a TV trolley and play a VHS? The videos would always be out of date, irrelevant, and nothing special; certainly not enjoyable. Once policies are in place, there are advanced, engaging options to train on those policies each year.
Be innovative. Throw a launch party when you roll out new policies, run an active incentive to give it another name, have a team get together, or tap into HR team members who want additional responsibility.
My Tips for your Annual Policy Review
Review times are some of my best times in the year because I take a close look at our internal policies and procedures and make sure that all the proper changes and updates, whether general or relating to a specific topic, are given a fresh eye.
To start out with this process, I ask myself two basic questions: "What type of situations did I learn about this year from our employees?" and "How can we continue to be proactive in setting good company policies?"
Organizing annual policy reviews with your team comes with several opportunities:
Follow up with your team: Build a deliberate rapport, discussing and unfolding how the year had been. This would encourage team members to note whatever concerns they may have. Be sure to note these concerns and challenges so you can address and correct them.
Make a review of the policy summary: The next step would be to carefully go through the annual review statement that had been created prior to the time.
Establish the changes in the employee's needs: Align the changes in the life of the team with the succinct needs. For instance, COVID has created the opportunity for organizations to alter existing and create new policies on safe workplaces.
Going through all these steps and guidelines reminds me of when we yearly carry out our policy reviews and updates here at ETHIX360. It's always a great time to unwind and rewind. You can't go wrong with an annual policy review…and it CAN be fun!
The ETHIX360 blog brings you weekly updates on all things human resources and compliance.
MEET THE AUTHOR
Kristin Hassan is the Chief Human Resources Officer of ETHIX360. Kristin spent six years as the New York City SHRM’s executive director and is a board member of the Human Resources Management Association - Princeton SHRM Chapter and a member of the Peer 150 HR Group.
ABOUT ETHIX360
At ETHIX360, our goal is simple: to provide an affordable, flexible, and comprehensive answer to employee communication, policy management, corporate training and case management on issues related to corporate ethics, code of conduct, fraud, bribery, and workplace violence.
