Overwhelmed by an unpredictable compliance landscape? Workforce Go! HCM can help.
Managing labor compliance is a challenge for any retail organization. Employment laws represent the largest percentage of business regulations for your company, with the US Department of Labor overseeing more than 180 laws that cover everything from minimum wages and overtime to safety and health compliance. When you add in state and local labor regulations, compliance can seem overwhelming.
To add to the challenge, employment laws and regulations are constantly changing. Regulatory changes can become law in as little as 60 to 90 days, leaving you to update critical policies and procedures in a limited time frame. Retail organizations face unique challenges, with multiple geographic locations and a mix of full-time, part-time, salaried, and hourly employees. The result is that HR departments often cut corners when it comes to compliance.
But noncompliance is risky – and expensive. Studies show that it costs an average of $78,0001 for a company to defend an FMLA lawsuit. The median award for an employment lawsuit that goes to trial is $200,0002, and 25% of those trials result in an award of at least $500,0003. And the cost is more than just financial. Trying to keep up with policies and procedures using manual processes and information from disparate sources creates an unproductive paperwork drag for your HR personnel, costing your company time as well as money.
An automated HCM solution like Workforce Go! HCM can help your retail organization manage your compliance efforts and minimize the risk of noncompliance. Organizations with a fully integrated workforce system can be proactive about compliance, thanks to automated time and attendance tracking, streamlined payroll processing, consistent application of scheduling rules, and more. Here are just a few of the compliance areas Workforce Go! HCM helps you keep up with:
- The US Fair Labor Standards Act (FLSA)
- The Family and Medical Leave Act (FMLA)
- The Affordable Care Act (ACA)
- The Occupational and Safety and Health Act (OSH)
Retail organizations with integrated, unified workforce solutions experience significantly lower compliance risk. Complete automation, coupled with real-time data visibility, allows you to reduce human error, minimize scheduling that violates regulations, enforce mandated breaks, and more. And the right solution makes it easy to apply policies uniformly across multiple retail locations, whether your organization is large or small.
Contact us today at firstname.lastname@example.org or 214-800-5575 to find out how Workforce Go! HCM can help you manage the challenges of today’s unpredictable compliance environment.
1GCG, FMLA Violations Can Cause Serious Financial Risk to Your Company, GCG Insights (March 9, 2017), found at http://gcgfinancial.com/insights-employee-benefits/fmla-violations-that-can-cause-serious-financial-risk-to-your-company/.
2Andrew C. Simpson, What Are Chances a U.S. Business Will Face an Employee Lawsuit?, Insurance Journal (October 28, 2015), found at http://www.insurancejournal.com/news/national/2015/10/28/386321.htm.