Are You Compliance Ready?
Managing compliance in today’s constantly shifting regulatory landscape is a complex undertaking for any business. It can be overwhelming to keep up with proposed guideline changes, updates to existing regulations, and implementation of new legislation. And reliance on manual processes and outdated systems can add to your frustration – and your compliance risk.
Here are five important factors that can help you be compliance ready.
1. The ability to respond to and communicate about new regulatory changes within 60 to 90 days.
This represents a reasonable timeframe for implementing and communicating compliance changes throughout your organization.
2. A single employee master record.
One key benefit of today’s automated workforce solutions is a single employee roster that helps you manage the employee lifecycle from hire through retire. Handling fewer employee records means less risk of noncompliance.
3. Spending more time on strategic initiatives than on data entry among various systems.
Inadequate navigation tools such as manual processes and multiple, outdated systems can result in duplicate data entry – and possible compliance errors. A newer HR/payroll system means you could spend as much as 25% less time on data entry – time that allows you to respond to regulatory changes more effectively.
4. An HR technology vendor that provides education and tools to help you stay compliant.
Many organizations have found that their HR technology vendor is a key source of insight regarding compliance and regulatory changes, giving them one less thing to worry about.
5. An updated workforce management system.
An automated workforce management solution like Workforce Go! HCM reduces data complexity and the need for manual entry, increases efficiency, and helps minimize the errors that can lead to compliance risk.
Compliance readiness doesn’t have to be hard. With a single, unified workforce management platform you can adapt quickly to the rapidly changing regulatory environment. Workforce Go! HCM is that platform. Download the checklist here. To find out more, contact us today at firstname.lastname@example.org or 214-800-5575.