Small businesses face several human resource compliance risks including exposure to workplace litigation, difficulties following current benefit regulations and laws, lack of qualified HR guidance to properly implement policies and procedures, errors from paperwork administration challenges, and lack of coordination between HR functions like payroll and benefits. These compliance issues can be avoided with outside help from HR consultants or services that can help small businesses focus on their core business objectives instead of getting bogged down in HR administration.
Complying with government regulations is a tough job, even for large organizations with the best resources. For midsized businesses with limited resources, facing compliance fueled by increasing layers of regulatory complexity can have a direct impact on profitability.
Global Compliance Across the ADP PortfolioADP, LLC
To be able to provide compliant HCM services and solutions to our clients, ADP must have an effective compliance program built on sound foundations and standards. The quality of our internal compliance controls directly affects the value of the services we deliver for our clients, as well as the engagement of our own associates. Read on to learn more about how we manage compliance across the HCM products, services and solutions we deliver to our multinational clients.
A general guide on tackling, handling, and preventing corporate fraud for human resources professionals and business owners.
Verity Consulting Limited is a corporate investigation consultancy based in Hong Kong providing a wide range of investigation and intelligence solutions to large and small corporations with extensive experience and networks operating around Hong Kong, Greater China and the Asia Pacific region.
Learn more about us at:
Website: www.verity.com.hk
LinkedIn: www.linkedin.com/company/verity-consulting-limited
Facebook: www.facebook.com/VerityHK
Google+: plus.google.com/+VerityHK
Should You Use a Professional Employer Organization? Top Factors to ConsiderInsideUp
When executives were asked, “What do you think will be the biggest investment challenge facing organizations over the next ten years?” For 47% of respondents, the answer was, “Obtaining human capital and optimizing human capital
investments.” Learn how a PEO can help you build a stronger company, and how to choose a good fit for your business
Complying with government regulations is a tough job, even for large organizations with the best resources. For midsized businesses with limited resources, facing compliance fueled by increasing layers of regulatory complexity can have a direct impact on profitability.
Global Compliance Across the ADP PortfolioADP, LLC
To be able to provide compliant HCM services and solutions to our clients, ADP must have an effective compliance program built on sound foundations and standards. The quality of our internal compliance controls directly affects the value of the services we deliver for our clients, as well as the engagement of our own associates. Read on to learn more about how we manage compliance across the HCM products, services and solutions we deliver to our multinational clients.
A general guide on tackling, handling, and preventing corporate fraud for human resources professionals and business owners.
Verity Consulting Limited is a corporate investigation consultancy based in Hong Kong providing a wide range of investigation and intelligence solutions to large and small corporations with extensive experience and networks operating around Hong Kong, Greater China and the Asia Pacific region.
Learn more about us at:
Website: www.verity.com.hk
LinkedIn: www.linkedin.com/company/verity-consulting-limited
Facebook: www.facebook.com/VerityHK
Google+: plus.google.com/+VerityHK
Should You Use a Professional Employer Organization? Top Factors to ConsiderInsideUp
When executives were asked, “What do you think will be the biggest investment challenge facing organizations over the next ten years?” For 47% of respondents, the answer was, “Obtaining human capital and optimizing human capital
investments.” Learn how a PEO can help you build a stronger company, and how to choose a good fit for your business
This issue of BIZGrowth Strategies includes articles on Enterprise Risk, Tax Issues of Using Fulfillment by Amazon, Traits to Look for in a Health Insurance Advisor, Summer HR Strategies and Protecting Your Wealth.
Educaterer India is an unique combination of passion driven into a hobby which makes an awesome profession. We carve the lives of enthusiastic candidates to a perfect professional who can impress upon the mindsets of the industry, while following the established traditions, can dare to set new standards to follow. We don't want you to be the part of the crowd, rather we like to make you the reason of the crowd.
Today's Effort For A Better Tomorrow
Have you reached that threshold in small business ownership where you’re able to acknowledge that you’re not a superhero? That’s practically what you’d have to be to successfully grow your business and perfectly manage the day-to-day administrative duties at the same time. If you’re like other smart business owners, you’ve embraced your mere mortal status and elected to outsource human resources and the tedious tasks associated with it to a Professional Employer Organization (PEO).
This is a short yet impactful piece based on three vignettes from attorenys that have started their own law firms. These address: 1) setting financial and personal goals for a law firm 2) when to hire staff and 3) setting policies and procedures.
A LexisNexis survey of legal departments found a renewed sense of optimism among U.S.-based corporate legal departments. More than 70% of survey respondents, which were mostly comprised of corporate attorneys, said this year has been better as compared to the previous year. The survey also found that corporate legal departments are planning to bring more work in-house, that compliance and operational efficiency are the top challenges, and expect legal budgets and staffing to remain flat.
This deck provides a quick overview of how partnering with a PEO can help simplify and grow your business. It is a brief and informative introduction to what a PEO is and the services that we provide. Enjoy!
Thomson Reuters Legal Department In-Source & Efficiency ReportPaul Authachinda
These trends illustrate that departments have
several levers to pull to achieve efficiency
and will continue to redefine the ways legal
work is addressed by internal resources within
the legal department and with outside counsel
for the time to come.
Risk & Advisory Services: Quarterly Risk Advisor Feb. 2016CBIZ, Inc.
In this issue: 1) Invest in Specialty Skills and Other Tips for Internal Audit Planning
2) Cyber Risk - Now It IS the Daily News 3) How to Build an Actionable Incident Response Strategy.
A study of challenges and opportunities facing the business of small law firms in billing realization.
- More than 80% of small law firms surveyed say they experience past due client accounts at least some of the time. More than half (52.9%) say between 10% and 39% of their total client base is typically past due.
- A majority of law firms surveyed (71.2%) report providing discounts or writing off legal work even before invoicing clients. Interestingly, an analysis comparing law firms that “always” and “never” provide discounts appears to show a correlation to past due accounts: Those law firms that reported never providing discounts on legal fees also reported substantially lower percentages of clients who allowed legal invoices to become past due.
During the HR Manager’s audit at the India plant, The HR manager a.docxinfantkimber
During the HR Manager’s audit at the India plant, The HR manager also discovered that the plant has not traditionally utilized any form of progressive discipline. Managers keep track of issues in their own way without any formalized process. Now that the plant is part of a global, publicly traded company, the lack of processes puts the entire organization at risk for several areas of compliance. How can HR add value in this context?
HR stands in position to hold operational managers accountable for their jobs. In this case, appropriate discipline needs to be given to these managers for not abiding by any standard process.
HR has to evaluate situations in unison with the Legal and Quality departments. All share accountabilities for operational risk and all need to get together for a cross-functional response to the situation.
The exit process for employment can be lengthy and present too much risk to a business if not handled well. HR is able to assess risk, make recommendations for process improvement, and execute strategic plans.
HR has a commitment to creating the best employee experience, which stops employees exiting from a business. When processes are not well thought out, the most detrimental impact is first felt by employees.
Bookmark question for laterIn smaller businesses, when departments are not as well defined and have fewer people, business leaders from any discipline will frequently perform terminations. This is not ideal. As companies grow, why should they place ultimate accountability on HR to manage the termination process?
Some state laws require HR to manage the process, so most companies have to adopt an overarching policy for HR to run and manage the process.
HR prevents former employees from filing any type of lawsuit by ensuring a zero litigation policy.
HR isn’t always the best department to run an effective termination. If a relationship between manager and subordinate is really personal, managers in these situations tend to run much more effective separation discussions.
The termination process, while difficult for management, is even worse for the individual. HR possesses the necessary skills in handling these delicate procedures and knows how to mitigate risk.
Bookmark question for laterDuring times of global financial crises such as in 2008 and 2020, many companies were faced with loss of revenue and subsequently had to take a closer look at operating expenses and the potential of reducing headcount as one means to stay above water. For publicly traded companies, decisions in this realm draw the attention of many outsiders such as the press, customers, and shareholders. How can HR provide strategic value in situations like this?
As HR has ultimate ownership of recruitment efforts, it stands in the best position to know how many people will need to be rehired again once the economic downturn ends.
HR has the knowledge, skills, and ability to manage complex employment situations and ad.
This issue of BIZGrowth Strategies includes articles on Enterprise Risk, Tax Issues of Using Fulfillment by Amazon, Traits to Look for in a Health Insurance Advisor, Summer HR Strategies and Protecting Your Wealth.
Educaterer India is an unique combination of passion driven into a hobby which makes an awesome profession. We carve the lives of enthusiastic candidates to a perfect professional who can impress upon the mindsets of the industry, while following the established traditions, can dare to set new standards to follow. We don't want you to be the part of the crowd, rather we like to make you the reason of the crowd.
Today's Effort For A Better Tomorrow
Have you reached that threshold in small business ownership where you’re able to acknowledge that you’re not a superhero? That’s practically what you’d have to be to successfully grow your business and perfectly manage the day-to-day administrative duties at the same time. If you’re like other smart business owners, you’ve embraced your mere mortal status and elected to outsource human resources and the tedious tasks associated with it to a Professional Employer Organization (PEO).
This is a short yet impactful piece based on three vignettes from attorenys that have started their own law firms. These address: 1) setting financial and personal goals for a law firm 2) when to hire staff and 3) setting policies and procedures.
A LexisNexis survey of legal departments found a renewed sense of optimism among U.S.-based corporate legal departments. More than 70% of survey respondents, which were mostly comprised of corporate attorneys, said this year has been better as compared to the previous year. The survey also found that corporate legal departments are planning to bring more work in-house, that compliance and operational efficiency are the top challenges, and expect legal budgets and staffing to remain flat.
This deck provides a quick overview of how partnering with a PEO can help simplify and grow your business. It is a brief and informative introduction to what a PEO is and the services that we provide. Enjoy!
Thomson Reuters Legal Department In-Source & Efficiency ReportPaul Authachinda
These trends illustrate that departments have
several levers to pull to achieve efficiency
and will continue to redefine the ways legal
work is addressed by internal resources within
the legal department and with outside counsel
for the time to come.
Risk & Advisory Services: Quarterly Risk Advisor Feb. 2016CBIZ, Inc.
In this issue: 1) Invest in Specialty Skills and Other Tips for Internal Audit Planning
2) Cyber Risk - Now It IS the Daily News 3) How to Build an Actionable Incident Response Strategy.
A study of challenges and opportunities facing the business of small law firms in billing realization.
- More than 80% of small law firms surveyed say they experience past due client accounts at least some of the time. More than half (52.9%) say between 10% and 39% of their total client base is typically past due.
- A majority of law firms surveyed (71.2%) report providing discounts or writing off legal work even before invoicing clients. Interestingly, an analysis comparing law firms that “always” and “never” provide discounts appears to show a correlation to past due accounts: Those law firms that reported never providing discounts on legal fees also reported substantially lower percentages of clients who allowed legal invoices to become past due.
During the HR Manager’s audit at the India plant, The HR manager a.docxinfantkimber
During the HR Manager’s audit at the India plant, The HR manager also discovered that the plant has not traditionally utilized any form of progressive discipline. Managers keep track of issues in their own way without any formalized process. Now that the plant is part of a global, publicly traded company, the lack of processes puts the entire organization at risk for several areas of compliance. How can HR add value in this context?
HR stands in position to hold operational managers accountable for their jobs. In this case, appropriate discipline needs to be given to these managers for not abiding by any standard process.
HR has to evaluate situations in unison with the Legal and Quality departments. All share accountabilities for operational risk and all need to get together for a cross-functional response to the situation.
The exit process for employment can be lengthy and present too much risk to a business if not handled well. HR is able to assess risk, make recommendations for process improvement, and execute strategic plans.
HR has a commitment to creating the best employee experience, which stops employees exiting from a business. When processes are not well thought out, the most detrimental impact is first felt by employees.
Bookmark question for laterIn smaller businesses, when departments are not as well defined and have fewer people, business leaders from any discipline will frequently perform terminations. This is not ideal. As companies grow, why should they place ultimate accountability on HR to manage the termination process?
Some state laws require HR to manage the process, so most companies have to adopt an overarching policy for HR to run and manage the process.
HR prevents former employees from filing any type of lawsuit by ensuring a zero litigation policy.
HR isn’t always the best department to run an effective termination. If a relationship between manager and subordinate is really personal, managers in these situations tend to run much more effective separation discussions.
The termination process, while difficult for management, is even worse for the individual. HR possesses the necessary skills in handling these delicate procedures and knows how to mitigate risk.
Bookmark question for laterDuring times of global financial crises such as in 2008 and 2020, many companies were faced with loss of revenue and subsequently had to take a closer look at operating expenses and the potential of reducing headcount as one means to stay above water. For publicly traded companies, decisions in this realm draw the attention of many outsiders such as the press, customers, and shareholders. How can HR provide strategic value in situations like this?
As HR has ultimate ownership of recruitment efforts, it stands in the best position to know how many people will need to be rehired again once the economic downturn ends.
HR has the knowledge, skills, and ability to manage complex employment situations and ad.
Innovative Employee Solutions
9665 Granite Ridge Drive, #420
San Diego, CA 92123
(858) 715-5100
http://www.innovativeemployeesolutions.com/
Innovative Employee Solutions specializes in payrolling and outsourced HR administrative services as the employer of record for various industries including technology, engineering, medical, insurance, clerical, research companies and many more.
HR Challenges and Solutions - Maintaining Compliance and Mitigating Future RiskADP Marketing
Many companies are facing increasing challenges to stay up to date with risk and compliance. Learn how to take control of compliance and manage risk in your business.
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Describing Straightforward Background That Is Legal Secrets
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1. Top 5 HR Compliance
Concerns for Small
Business
WHITE PAPER: TOP 5 HR COMPLIANCE CONCERNS FOR SMALL BUSINESS
2. Top 5 HR Compliance Concerns for Small Business www.trinet.com
2
As the economic horizon continues to shift and belts tighten, small and medium-sized
companies — who typically have between 10 to 500 employees and
represent 99.7 percent of all employer firms according to the U.S. Small Business
Administration (SBA) — may wind up being so focused on core business issues
that they overlook one of their most potentially serious and costly issues — human
resource compliance. Unlike their large-company counterparts, they lack the time
and resources to build infrastructure and processes that are beyond core business
objectives.
But if entrepreneurs and smaller business owners are focused solely on growth and
product, how do they know what issues to look for in order to protect the company?
Let’s look at the Top 5 HR Compliance Issues that they may face.
1. Exposure to Workplace Litigation Not Being Addressed
According to the Equal Employment Opportunity Commission (EEOC), race and
sexual discrimination are the first and second most prevalent forms of workplace
discrimination. But few businesses provide training regarding racial and sexual
harassment, which opens the door to wrongful termination when employees leave
their jobs.
Yet despite the possibility of being sued, small business owners are not addressing
the problem head on. For example, only 23 percent of small businesses provide
employment discrimination and/or sexual harassment training (based on a random
survey of 300 privately held businesses conducted by Chubb Group of Insurance
Companies).
Employee turnover contributes to employer liability by creating potential wrongful-termination
cases. Studies show that a company’s legal costs in a wrongful
termination lawsuit can run up to $85,000, and that winning plaintiffs receive
judgments averaging $500,000.
2. Current Benefit Regulations and Laws Not Being Followed
The cost of compliance with benefits regulations is often a bigger burden for small
companies, primarily because the associated overhead expense is spread over
a smaller workforce. According to a U.S. Small Business Administration survey,
small companies spend up to 80 percent more per employee on federal regulatory
compliance than large companies. Poor management of personnel-related tasks can
make compliance even more costly.
3. www.trinet.com Top 5 HR Compliance Concerns for Small Business
3
For the small business owner who offers retirement and health and welfare benefits,
keeping up with all the new regulations and changing laws can be daunting. The
required tests must be conducted, plan provisions must be properly applied,
required notices and documents must be provided to employees, and all required
government filings must be completed. Plus there’s the alphabet soup of HIPAA,
COBRA, FMLA, and the rest to consider.
3. Multiple HR Policies and Procedures to Follow with
No Qualified Guidance
For a small to medium-sized business, the human resource “department” is usually
one person who wears many hats. This HR generalist may be responsible for
compensation and benefits, HR management, labor relations, legal issues, staffing,
HRIS, training and much more. Besides, keeping up with all of these tasks, thorough
independent research often falls into the “nights and weekends” environment,
which can become both costly and time consuming.
While a typical HR generalist may know a bit about everything, rock solid HR
guidance is crucial given the constant presence and oversight of entities such as
the Internal Revenue Service (IRS), the Department of Labor (DOL), or the EEOC.
The old adage “ignorance of the law is no defense” certainly applies when a
company is faced with an audit, an investigation by a government agency, or even
litigation. This is particularly true when areas of concern include everything from
compensation and benefits to staffing and workers compensation issues. An HR
generalist who makes the wrong decision about a crucial employee issue — even
something as simple as asking the wrong question in an interview — can result in
significant consequences.
4. Paperwork Administration Results in Substantial Errors
With every new hire comes a mountain of paperwork. If a company doesn’t have
access to online services and must deal with hard copies, errors can multiply.
Similarly, what happens when an employee enrolls in benefits? Payroll must ensure
that the adequate deductions are made. When an employee undergoes a life
status change and alters his or her benefits selections, benefits and payroll must be
adjusted accordingly and within the legally required timeframe.
All of these administrative processes tend to “live” in different parts of the
organization, and yet they’re utterly dependent upon one another. At each step,
when information is transferred from one HR process to another, there is a chance
of error. Multiply this possibility by the number of employees and the reams of
paperwork, and that possibility starts looking like a probability. When one area fails,
the whole process comes to a halt.
4. Top 5 HR Compliance Concerns for Small Business www.trinet.com
4
Mistakes cause employees to focus on the errors rather than appreciating the
benefits that HR delivers them. Many employees don’t realize how much money
a company spends on employee benefits. The costs are staggering and can easily
reach between 5 and 10 percent of an employee’s salary, depending on coverage
options. So instead of saying how great it is to get top-quality benefits and flexible
spending accounts, employees are complaining that the wrong deductions were
taken out of their paychecks. This type of negative “water cooler” conversation can
spread rapidly.
5. HR Functions Not Being Coordinated
As demonstrated above, in order for the correct amount of deductions for benefits to
be taken out of an employee’s paycheck, accurate information must flow to and from
payroll. Payroll data and benefits recordkeeping need to work in sync. Otherwise,
payroll deductions can be wrong. When that happens, employees notice and
valuable time is wasted to implement corrections.
If different vendors are employed for the payroll and benefits recordkeeping
function, the small business owner is the one who must ensure that everything is
coordinated and running smoothly. This entails fielding calls back and forth from the
vendors, while trying to understand the technicalities of the different systems.
But what about using one of the myriad of payroll software now available? Having
the right software still does not address the need to integrate the payroll and benefit
functions. So now, in addition to making sure the software runs correctly, owners
still need to communicate and transmit the information to their benefits record
keeper. On top of that, the payroll software must becontinually upgraded.
5. Top 5 HR Compliance Concerns for Small Business www.trinet.com
5
Getting Help
Many of these landmines can be avoided with a little careful advance planning, and
most importantly, by seeking outside help. Many small businesses work with an
outside HR consultant or a lawyer who specializes in employment issues. TriNet
provides several HR services for smaller companies, including payroll and benefits
administration, as well as assistance with many aspects of employer-related risk
management and compliance.
Whichever option a small business owner chooses, he or she faces the obvious need
to let qualified experts provide strategic guidance in regards to these issues. The
return on investment for taking precautions against running afoul of the law is not
only in the prevention of costly errors, but in the satisfaction and productivity of the
entire workforce.