Security News > 2023 > September > Compliance budgets under strain as inflation and workload grow

Compliance leaders are facing pressure to make the most of existing resources despite economic challenges and increased workload volume and complexity, according to Gartner.

"Confronted with economic volatility, a tight labor market, and rising geopolitical tensions, compliance departments are adapting their workflows to an increasingly complex landscape," said Chris Audet, Chief of Research with the Gartner for Legal, Risk & Compliance Leaders practice.

High inflation rates and ongoing fears of an impending recession place organizations under resource strain - with compliance leaders now tasked to operate in a more cost-conscious environment.

Compliance departments have seen a decrease in full-time employee headcounts since 2020, and for 2023 most compliance departments did not forecast a change to the FTE headcounts.

"Increased regulatory scrutiny and rising geopolitical tensions have burdened compliance staff in recent years. Coupled with a more competitive talent market, it has been difficult for many compliance leaders to hold on to their existing staff, let alone increase the size of their departments," added Audet.

Compliance leaders anticipate technology will be one of the areas of highest spend increases this year with systems to manage hotlines, compliance and ethics training, and risk management systems high on the list.

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https://www.helpnetsecurity.com/2023/09/06/compliance-leaders-challenges/