The first January of the new decade has come and gone in a flash! If you are recovering from W-2 and 1099 season, or just really finding your groove again after the holidays, February may be the prime time to conduct an assessment of the compliance requirements and supporting operations in your HR organization.
There are 4 key points we like to review with clients when considering HR compliance and day-to-day operations to keep things running smoothly!
1. Company Size (Employee Count)
State and federal requirements often vary based upon the number of employees you have working for your organization. For example, Equal Employment Opportunity (EEO) reporting is required when you have 100 or more employees, or over 50 employees when you have federal contracts, while Americans with Disabilities Act (ADA) typically applies to employers who have only 15 employees.
2. Industry Requirements
Oil and Gas? Healthcare? Financial Sector? Non-Profit? Each industry may impose its own set of compliance regulations regarding employee reporting, tracking and/or safety related requirements. For example, in Healthcare, ensuring staff licensing, continuing education and competency evaluation is maintained in accordance with applicable guidelines and readily available for state and federal audits.
3. Funding Sources
How your organization is funded can also trigger additional compliance requirements. Private companies may have less scrutiny than those operating a business based upon state or federal contracts. Federal funding often requires adherence to programs regulated by the Office of Federal Contracts Compliance Programs (OFCCP) under the Department of Labor’s (DOL) umbrella. It’s important to understand and align organizational processes to requirements that are tied to your funding source.
4. Employee Handbook
Consider how often your handbook is reviewed and updated with requirements applicable to your organization, as well as the timeliness of adding new law updates and regulations. States have experienced policy updates on several fronts, one of the most significant relating to medical or recreational marijuana and the various policies employers need to consider. There also have been federal updates to the Fair Labor Standards Act (FLSA) and overtime rules, impacting more organizations that what some had originally anticipated.
Prepare with HoganTaylor
Assessing your HR operations may seem overwhelming, and if we are honest, you may feel like putting this off until “later” – whenever later may be. However, understanding the requirements specific to your organization’s size, industry and funding is key when preparing policies and processes within your HR area. Consider having our Human Capital team help with an HR Assessment and get an inventory and baseline of these requirements and functions in one report. Upon completion of an assessment, our HR Scorecard provides a color-coded roadmap for you to leverage as you make strategic decisions regarding people initiatives, risk reduction and processes that best support your business.
If you have any questions about this content, or if you would like more information about how to get started with an assessment, contact the author, Sara Harris at email@example.com.
INFORMATIONAL PURPOSE ONLY. This content is for informational purposes only. This content does not constitute professional advice and should not be relied upon by you or any third party, including to operate or promote your business, secure financing or capital in any form, obtain any regulatory or governmental approvals, or otherwise be used in connection with procuring services or other benefits from any entity. Before making any decision or taking any action, you should consult with professional