Ensuring your company policies and actions adhere to evolving employment-related rules and regulations takes time, effort, and expertise. Doing so effectively involves everything from keeping on top of the latest HR compliance requirements to creating and documenting enforcement policies to meet ever-changing HR compliance requirements to properly handling complaints when they occur—and more.
There’s a lot at stake. In fact, the minute you hire your first employee, you introduce HR risk to your business. Each year, discrimination, wrongful termination, retaliation, and harassment claims cost U.S. businesses millions of dollars. For example, in 2023 the Equal Opportunity Employment Commission resolved 83,787 charges of workplace discrimination, resulting in $346.2 million in fines and settlements. Being out of HR compliance puts a business at risk for not only hefty fines and penalties but also reputational damage. Ultimately, all of this can be far more costly than investing in the resources to stay compliant.
The shift to remote work over the past few years has resulted in many organizations having employees working in multiple locations and multiple states. This shift requires a strong understanding of and adherence to federal, state, and local employment rules and requirements.
To better understand the current concerns and dynamics in the marketplace, TriNet sponsored research by Harvard Business Review Analytic Services, which conducted a pulse survey of business leaders, a majority of whom are from organizations that are evolving their operations to incorporate new strategies to keep up with compliance requirements, including the hiring of external HR service providers and the use of analytics tools. The report examines best practices -small and medium-sized businesses can use to navigate HR compliance and stay on top of changes to workplace rules and requirements.
We hope you find it a valuable resource.
Michael Mendenhall
Senior Vice President and Chief Marketing Officer/Chief Communications Officer, TriNet
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