With a growing list of HR compliance requirements, staying on top of new regulations and procedures can be a challenge even for the most experienced HR professionals.
Penalties for breaching FLSA, FMLA, OSHA, USERRA, ERISA, COBRA, and others can be costly and time consuming, often leading to expensive lawsuits, fines, and disruptions to business operations. The cost of non-compliance has risen more than 45% in the last 10 years, making it more important than ever to educate employees and examine current compliance efforts. With the world entering the second quarter of 2023, now is the time to brush up on the latest regulations and implement new methods to effectively regulate compliance and maintain data protection.
Protect Data Privacy with Centralized Compliance Reporting
Having documented evidence to prove compliance is key to showing auditors that your company is adhering to all regulatory requirements. Tracking compliance manually presents an ongoing risk for data privacy and can make it challenging to present necessary information.
Employers can streamline compliance efforts and maintain data privacy by implementing centralized reporting technology to support reporting and keep data in one place. Centralized reporting allows employment and hiring data to remain safe and confidential, and makes it easier for businesses to report on compliance without all the hassle.
Tools such as JazzHR’s recruitment software offer compliance reporting, which enables companies to fulfill lengthy reporting requirements and protect privacy. This technology also allows critical compliance forms and disclaimers to be included directly on job applications as outlined by federal law and guidelines.
Businesses should also perform an internal compliance audit at least once a year to check that everything is up to date. Didn’t conduct an audit in 2022? Now’s the time. Alert your team and set a date to review internal policies, procedures, and guidelines for 2023.
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Discover HRTech Interview with Marlon Rosenzweig, Co-Founder & CEO at WorkGenius - https://hrtechcube.com/hrtech-interview-with-marlon-rosenzweig/