EEO Compliance: Are You Prepared to File the Updated EEO-1 Report?
EEO compliance updates

EEO Compliance: Are You Prepared to File the Updated EEO-1 Report?

Remember when the Equal Employment Opportunity Commission (EEOC) announced a final version of EEO-1 reporting updates back in September of 2016?

If you’re like most employers, you’ve probably had so much on your plate that the new reporting requirements haven’t crossed your mind. With less than six months until the new filing deadline, here’s a refresher course to help you prepare.

What are the updated requirements for EEO compliance?

The current EEO-1 Report requires company employment data to be categorized by race, ethnicity, gender and job category. The new rule requires employers to accurately track and report the number of hours employees work, identify their employees’ earnings over a 12-month period and classify employees in one of 12 pay bands. According to the EEOC, the new regulations will provide a much needed tool to identify discriminatory pay practices where they exist.

Which employers will be affected?

Under the current proposal, employers, including federal contractors, with 100 or more employees will be required to report aggregate W-2 income and hours worked by gender, race, ethnicity and job category. Federal contractors with 50-99 employees would not report pay data but continue to file the current EEO-1 report.

What does this mean for your organization?

The amount of additional data employers will be required to provide is very significant. Employers must prepare to comply with the new regulations by first understanding what’s required. To start, employers must provide information on total compensation and total hours worked by race, ethnicity, gender, EEO-1 category and designated salary bands.

To effectively manage these requirements, employers must ensure that they can accurately and efficiently deliver information required in the report. And with reporting requirements more challenging than ever before, employers need one database for HR, payroll and time tracking to efficiently and accurately generate the necessary data to file the new report.

When will organizations be required to comply?

Employers are required to file the updated EEO-1 report by March 31, 2018.

What are the penalties?

If an employer is found to have engaged in pay discrimination, it could face litigation from the EEOC and liability for back wages and other damages.

To eliminate stress and help your organization prepare, we’ve created an expert EEO-1 checklist so you don’t have to worry about missing critical information when filing. Click here to download the checklist.

With separate solutions for HR, time and payroll, collecting critical employee data will require more manual work and could lead to inaccuracies that result in audits and penalties. Paycor’s all-in-one solution ensures HR, time and payroll data is easily accessible in one location. Contact us and learn how we can help your organization prepare for the new regulations.

More to Discover

CFO

Compliance Guide for Finance Leaders

Compliance Guide for Finance Leaders

As part of our commitment to help Finance leaders make a difference in their organizations, we’ve published this compliance deep dive to help you stay current and effective in a fast-paced and changing world. Inside you’ll learn: How to maintain compliance with federal regulations through the employee lifecycle Potential violations to watch for and tips to avoid them Expert advice on how HR can mitigate risk Complete the form and get your 2019 Compliance Guide instantly.

Turnover Guide

Turnover Guide

Download this turnover guide to learn: True causes of turnover Ways to reduce it How to solve the turnover problem with metrics and insights Start reducing turnover in your organization today, and download the guide.

HR COE Compliance Benchmark Quiz

HR COE Compliance Benchmark Quiz

Is your organization at risk? The path to achieving excellence in recruiting is a continual journey that evolves over three phases. To find out what phase you’re in and get a customized action plan. TAKE OUR QUIZ TO FIND OUT: Quiz will load down below shortly Content loading... Please enable javascript! Compliance Benchmarking Quiz What’s preventing you from attracting and hiring top talent? To get to the next level, analyze your current compliance practices to find out where you are at risk. Then develop strategies to address those problem areas. Based on your responses, you’re in Phase 1: To get to the next level, look for the right technology to proactively monitor compliance. When you find the right fit, invest in technology to lay...

HR COE People Management Benchmark Quiz

HR COE People Management Benchmark Quiz

How well does your HR team manage and develop people? The path to achieving excellence in recruiting is a continual journey that evolves over three phases. To find out what phase you’re in and get a customized action plan. TAKE OUR QUIZ TO FIND OUT: Quiz will load down below shortly Content loading... Please enable javascript! People Management Quiz What’s preventing you from attracting and hiring top talent? To get to the next level, think about ways to streamline and automate all the workflows that go into the routine tasks of people management, so you can begin to focus on the more strategic aspects of motivating and developing your employees. Based on your responses, you’re in Phase 1: To get to the next level, learn the key...