Compliance begins the second your customers step on the lot. Because of this, it’s vital for every dealership to ensure that their processes are compliant, and they provide the necessary compliance training to support their team. Whether they’re out on the lot, on a test drive, in the showroom, or in the F&I office, each member of the team needs to be accountable for engaging in compliant business practice.
When given the benefit of the doubt, we expect that dealers want to follow the rules, but it’s understandably difficult when there are so many rules to follow. From discrimination and sexual harassment to the Red Flags Rule and the Safeguards Rule, there’s an abundance of federal and state regulations that require attention, management and, most importantly, training to keep dealers off the hook.
Whether your dealership is large or small, new or pre-owned, the penalty for being non-compliant is the same—fines, fines, fines, and maybe worse. That’s why prepared dealerships recognize the challenges compliance can offer and that they may not be able to handle it all by themselves.
EasyCare aims to help dealers succeed, and this is why we’ve partnered with Mosaic Compliance Services—a company created by automotive attorneys to create web-based legal compliance and training tools specifically designed for dealerships.
In a recent sit-down, Steven Spivey, Director of New Business Development at EasyCare, and Jim Ganther, President and CEO at Mosaic Compliance Services, discussed how EasyCare’s partnership with Mosaic Compliance Services delivers—at no charge to qualifying dealers—comprehensive compliance training that enables you to meet the legal requirements of your F&I office and beyond.
Ultimately, establishing a culture of compliance, data security, transparency, and honesty with customers is critical to protecting your dealership. With Mosaic Compliance Services’ electronic system, you’re able to certifiably train and track performance for individuals, which will prove invaluable if an audit occurs.
Remember, compliance is a dealership-wide initiative that requires participation and training for every team member. An investment in compliance training will always pay the best interest, and protect you from unnecessary penalties and fines.
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It’s no secret that dealership turnover is higher than in other industries, and the cost of losing an employee in the first year can be up to three times their salary in lost revenue; not to mention recruiting costs and more.
Proper training is no longer a nice-to-have, and with the right skills and knowledge your team can make a more meaningful impact on your customers and your bottom line.
Compliance begins the second your customers step on the lot. Because of this, it’s vital for every dealership to ensure that their processes are compliant, and they provide the necessary compliance training to support their team.
