AUTO DEALERS: YOU’RE WASTING TIME & MONEY USING A “GOOD ENOUGH” COMPLIANCE SYSTEM

GOOD ENOUGH

The Siren Song of

“Good Enough” Take a close look at your dealership’s compliance system.

Is it on autopilot?

Is your company just checking the box and hoping you’re safe?

Is it just good enough?

Your “Good Enough” Compliance System

Damages Your Business

your people

$1.5 millionThat is what an average dealer will spend each year in replacement costs from employee turnover

FOCUSING JUST ON YOUR SALES TEAM:

You'll lose 9 people each year

Replacement costs for your sales team alone:

(Using 90% for our calculations - your mileage may vary)

$580,000

That means across your organization

you'll lose 25 people each year

Source: NADA, NADA Data, 2104, Society for Human Resource Management, Retaining Talent, 2008

You’ll have to sell 1,200 cars

more to cover this.

You’ll have to sell

473 carsmore to cover this.

Your People

TAKE ACTIONTo get started the right way, employees must understand - from day 1 - their role in achieving company’s goals. Focus on three areas to cut down turnover costs:

ONBOARDING

Onboard them well so they understand what’s expected of them and that they’re an important part of the team.

TRAINING

Provide ongoing training for an

opportunity to grow.

OPEN COMMUNICATION

Redirect employees that may have started down the wrong path. Reinforce company goals, values and expectations often.

Your systems

TAKEACTION

Organizations who use paper based methods

for their compliance related activities spent

than organizations that had transitioned to automation.

30% more time

Automate your compliance system to streamline your operations.

Source: Blue Hill Research, The Impact of GRC in Spreadsheet-Driven Compliance and Risk Management Environments, 2015

Your “Good Enough” Compliance System

Damages Your Bottom Line

DISCRIMINATION:

In 2014, settlements for discrimination lawsuits averaged

$33,000per settlement.

TAKEACTION

From day one, your employees need to understand legal and disciplinary procedures that affect their day-to-day work. Develop awareness and

understanding by automating your on-boarding and compliance programs.

HARASSMENT:

In 2014, settlements for sexual harassment averaged

$44,500per settlement.

litigation

Source: EEOC, 2015

Or, the profit on

36 new cars

TELEMARKETING SALES RULE:

Penalties for non-compliance:

$16,000 per violation

TAKEACTION

Develop dashboards by location or supervisory team. These will give you insights and actionable data that help identify gaps before someone identifies them for you.

penalties

GRAMM-LEACH-BLILEY ACT:

Penalties for non-compliance:

up to $16,000 per violation for officers and directors personally liable

That’s the profit on

13 cars!

"Good Enough" just doesn’t cut it.

It costs too much

GOOD ENOUGH

NOT

Don’t settle for good enough.

Spend time building your dealership and nurturing employees. Not hiring and rehiring ...or fending off lawsuits and regulators...or chasing paperwork.

Talk to the folks at Compli. Their workforce compliance system helps you spend less time on compliance and more time selling cars.

Compli.com | 800.481.8309