By Blandine CORDIER-PALASSE, La Revue RH&M n°86
At the beginning of the century, compliance was little known outside a few sectors such as finance, construction and the pharmaceutical industry. Today, it concerns all areas of economic activity. Compliance covers multinationals as well as SMEs. We take a quick look at the consequences of this development in terms of organisation and recruitment.
Requirements and penalties on the increase
The strong growth of the compliance function can be partly explained by the scope of the issues covered by French and international laws and regulations that have come into force over the last ten years or so. From the fight against corruption and money laundering to the duty of vigilance, data protection and respect for human rights, the compliance function has become an integral part of the Group's strategy.
economic sanctions, the list of crucial subjects to be mastered continues to grow, requiring more and more experts to address them properly.
Another driving force behind the introduction of robust compliance programmes is the increase in sanctions, including criminal sanctions, imposed on certain senior executives deemed responsible for breaches of the law by their company. In addition to this, there is often a significant impact on reputation.
Reactions and adaptation in the workplace
The increased diversity of risks of non-compliance has first and foremost contributed to the creation of positions for lawyers capable of understanding and interpreting legislation and its implications for business. These lawyers also have additional expertise, in data protection or antitrust for example. Since then, although in more than 60% of cases the compliance function is still attached to the legal department, the need to implement compliance and control policies requires profiles of auditors, financiers and even technical experts. This is contributing to the growth of new professions combining compliance, risk management and internal control.
Second consequence: repercussions at all levels of the company's organisation. To be effective, this function needs to be driven by senior management. This "tone-from-the-top" approach distinguishes companies that see compliance as a strategic asset. It contributes to their development, and those that see it as a constraint, a cost, a hindrance to their business.
Secondly, it must permeate the entire organisation: from the directors - who may be held liable - to the operational teams in remote subsidiaries. Everyone needs to be informed and trained as far upstream as possible.
Tensions on the human resources front
Unsurprisingly, the rise of compliance is also having an impact on the recruitment market. From trainees to compliance directors, there is a shortage of good candidates. Few profiles have already acquired the training and experience required to meet the many rapidly evolving regulatory, ethical and business challenges.
What can be done to attract and retain talent? In our experience as headhunters, it is essential that we understand the complex profiles we are looking for. Teams should have the financial, human and technical resources to carry out their mission successfully. This will be an asset when it comes to attracting candidates. And to retain them, they need to have an ethical corporate culture that supports their work.
Key words: Compliance, Candidates, Human resources, Corporate governance, Responsibility, Compliance.
