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The HR Compliance Business Impact Report: How U.S. employers manage compliance risk in the workplace
APRIL 2018
Maintaining compliance and managing risk are among the toughest challenges that HR professionals face, especially those working within large organizations that have global operations and a complex workforce. Add to the mix a constantly changing legislative landscape where every jurisdiction must adhere to its own set of rules and regulations or risk facing hefty fines and penalties for non-compliance. This study reveals how effectively HR professionals within a cross section of organizations in the U.S. manage compliance issues in their workplace and the overall business impact that these changes have on their policies and procedures. Read the exclusive research, conducted by HR.com in partnership with Ceridian, to learn the strategies organizations use to stay up-to-date with new mandates.
HIGHLIGHTS FROM THE RESEARCH:
The complex and growing web of laws and regulations in the U.S. make compliance difficult enough. What can also increase the level of difficulty is that interpretations of the precise meaning of laws can vary according to government agencies and in court decisions at both the state and federal levels of laws and regulations as a factor that makes keeping up with compliance difficult. Nearly as many (64%) said the growing scope of federal and state HR-related laws and mandates was an issue.
Despite the finding that ACA was costly, many respondents (29%) said it was not a burden at all. A closer look at organizations of those respondents revealed they were more likely to use an HCM solution to help maintain compliance.
What are organizations doing to help contain healthcare costs? They are using a variety of tactics. Over half of respondents said their organizations were encouraging employees to participate in wellness programs, making greater use of high deductible health plans and making more extensive use of flexible spending accounts (FSAs), health savings accounts (HSAs) and health reimbursement arrangements (HRAs).
To learn more about HR Compliance research and to get 7 key strategic takeaways from the research, please read the report here:
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