4. Comprehensive Policies and Procedures

Although a dense compliance manual may seem daunting to read through, not having one invites unnecessary risk. High-performing companies treat policies and procedures like the operational backbone they are. Documentation is up-to-date, searchable, and written in plain language.  

These policies aren’t designed for the compliance team, of course, but are also actionable guides for procurement, logistics, and sales. 

Oversight matters, too. Policies should be reviewed at least annually, or any time there’s a regulatory shift or change in business operations. Those reviews shouldn’t live in a silo. Executive engagement ensures accountability and reinforces the importance of staying current. 

Some companies get it wrong by writing policies no one can follow. Practical detail beats boilerplate every time. 

5. Regular Audits and Continuous Improvement

You can’t manage what you don’t measure. That’s why top compliance performers embrace internal and third-party audits. Not to “pass a test,” but to spot blind spots before they become legal liabilities.  

The most effective audit programs are risk-based. High-risk areas might need quarterly reviews, while lower-risk functions are checked annually. Third-party audits every few years provide a fresh perspective and often surface gaps internal teams overlook.  

However, audits alone don’t create culture. Leadership does. Executives must champion compliance, not just as a department but as a shared responsibility. They must celebrate wins, tie compliance metrics to performance goals, and offer training beyond the compliance team. That’s how a culture takes root. 

One useful tactic I recommend: a year-end compliance checklist. It’s simple, actionable, and helps teams close the loop on improvements before the new year starts.