Each day you come to work, you have the best and brightest intentions. You want to do a great job, lead your team to success, and boost your company’s bottom line. This is the natural course of action for most leaders. What you’re leaving out of the mix, however, are HR issues that could ultimately cost you your business. As crazy as it may sound, compliance requirements could literally be killing your company; if this is surprising to you, you should definitely read on.
Why Compliance is Important
Long story short, you don’t have a choice when it comes to compliance. There are certain laws and regulations that have been enacted to protect both your company and your employees. As a business leader, it’s up to you to know when things change or which regulations have recently been updated. Naturally, this can be a tough task to take on, given that regulations change often.
Certain provisions, such as those governed by FSLA, OSHA, and ACA are crucial to your business. No matter what you do or what industry you’re in, you’re expected to adhere to specific guidelines set forth by the government. Should you fail to comply, you could face immense penalties or be shut down completely. Even minor, innocent slip-ups can result in major fines that could ultimately lead to failure.
How Compliance Impacts Your Business
Because compliance is a non-negotiable part of business, you have to understand the repercussions associated with non-compliance. You could face hefty fines or penalties. Some areas of HR that are regularly updated and require strict compliance include:
- Do you fully understand your state’s minimum wage and overtime laws? Can you safely say you’re adhering to the Department of Labor’s Wage and Hour Division’s requirements? If you’re not sure, put this at the top of your to-do list.
- Even the most innocent of conversations can instantly turn into legal controversy if you’re not well-versed in HR laws. There are certain things you can and cannot say, ask, and do. Not sure how to navigate these muddy waters? Call upon a team of HR pros who are fully versed in the art of interview speak.
- With an ever-changing ebb and flow of safety requirements, it can be tough to keep up with them if you don’t have a dedicated team of people who are constantly keeping tabs on updates.
Staying Up-to-Date with Compliance Changes
If you’re running a small business, the answer is simple: you probably don’t have the bandwidth necessary to deal with regulatory changes on a frequent basis.
Dealing with the day-to-day hassles of compliance is often a full-time job, but you don’t have to put undue stress on your payroll to accomplish the tasks at hand. By partnering with Insight Performance, you’ll have all the tools you need to:
- Manage your greatest assets
- Maintain compliance
- Receive optimal support
- Access industry knowledge
How do you get in front of issues before they become problems? You become proactive! At Insight Performance, we perform proactive human resource management for small to medium businesses. If you’re ready to face compliance head-on and conquer the business world in brand new ways, explore the benefits you could gain from our HR. Solved.SM service.