No Matter Who Wins the Election, Here’s What Will Impact You

There’s only a week left in the current US presidential race. That’s right—wherever you fall on the political spectrum, whichever candidate you support, we can all be happy about one thing:

It’s nearly over.

Yes, this bitter and highly contested election season—a race so unbelievable it’s drawn comparisons to a poorly written season of television—is finally reaching its conclusion on November 8th. But while the political Facebook rants and op-ed pieces may be coming to a close (please, let them come to a close), much of the real compliance work will just be beginning.

In terms of new federal regulations, changes to your workforce and the latest technological developments, organizations will face many of the same challenges under a President Clinton or a President Trump. Regardless of who wins the election, here are a few issues to start preparing for now:

For more perspective on each candidate and party’s attitudes toward regulatory actions read our post “Clinton vs. Trump vs. the CFPB.”

New Regulations

Regulatory bodies come and go. Although it may be hard for those of us aligned with the financial services industry to remember a time before the Consumer Financial Protection Bureau, the agency has only been around since 2011. And as we wrote in a recent blog post, the CFPB is still undergoing significant changes as businesses and lawmakers grapple over its structure and the scope of its authority.

The only real constant is change. Regulations may become more restrictive or less restrictive depending on which party holds more power in Washington. For more perspective on each candidate and party’s attitudes toward regulatory actions, read “Clinton vs. Trump vs. the CFPB.”

An Evolving Workforce

Immigration has been one of the issues at the forefront of this presidential race, and not for no reason: it’s one of the primary forces shaping the next generation of American workers. Here’s a cool fact: immigrants and their children have founded more than 40% of Fortune 500 companies.

To top that off, the American workforce also holds the largest generational spread it’s ever seen. And as workers push their retirement ages back further and further, that’s a trend that’s not fading away any time soon.

So, here’s your challenge: Different generations and ethnicities bring different values, communication styles and ways of learning to the workforce and to business as a whole. How are you building your compliance program to accommodate this?

Smarter Technology

Across industries, technology has formed the backbone of modern business. Cloud services, mobile devices, data analytics and the internet of things have all streamlined inefficient processes and provided more people with greater access to all kinds of information. As a result, the world is now producing an unprecedented amount of data every day.

How will you harness that data? What can you do to continually secure sensitive information about your organization and its customers? And how do you stay on top of the latest advancements in technology?

Lack of technical knowledge shouldn’t get in the way of following the law or maintaining best practices. If your technology is keeping you out of compliance, watch our recent webinar on the subject to learn what you’re missing and see how easy it is to stay up-to-date.

At Complí, we believe that the best approach accommodates day-to-day developments as well as the large scale changes that impact your business. Strategic planning starts with adopting the right tools. See how Compligo allows you to meet your regulatory and organizational requirements in a rapidly transforming world.

Is Your Technology Keeping You Out Of Compliance?

Webinar - Is Your Technology Keeping You Out Of ComplianceWatch our recent webinar on the subject to learn what you’re missing and see how easy it is to stay up-to-date.

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