42% of medium and small businesses have negative feelings about their compliance management practices. Learn how to get the upper hand on this complex topic.
Compliance is a moving target. Just when you think you’ve got everything under control, the rules change and the target shifts. How your organization manages compliance risks is one of the most important decisions you’ll make as a leader. Are you ready to provide data and reports if required by a federal or state agency? Or will your organization be subject to penalties and fines? Paycor builds federal, state and local compliance and tax expertise into our platform, which is automatically updated, so our customers never have to worry.
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What Compliance Means for Your Organization
Do you spend too much or too little time on compliance? The IRS estimates U.S. businesses spend a collective 2.8 billion hours a year on tax compliance alone. Add in the Department of Labor’s requirements for overtime and minimum wage as well as the Affordable Care Act’s tracking and reporting regulations and you’ve only just scratched the surface of compliance.
Naturally, being compliant is going to mean something different depending on the industry in which you work. Are you a medical facility who can’t allow licensing to lapse or perhaps a manufacturer with concerns about Occupational Safety and Health Administration (OSHA) law? What sort of training do you have in place to prevent employment discrimination and a subsequent EEOC lawsuit?
The right HR partner can offer your organization expert advice on how to mitigate compliance risk. Learn what potential violations should be on your radar and how to avoid them as well as how to maintain compliance through the employee lifecycle.