“Look at it as though when we follow compliance, that it is an employee experience to help them be more productive for your organization and to protect your organization.”
In episode #112 of Mission to Grow, the Asure podcast that serves as small business owners’ guide to cash, compliance, and the War for Talent, VP of HR Compliance and Learning and Development at Asure Software, Mary Simmons, sits down with host Mike Vannoy to discuss why compliance is not just an option, but a crucial aspect of any successful organization. Mary shares common misconceptions, and real-world examples, and provides actionable advice for ensuring your organization adheres to essential compliance standards.
Takeaways:
- Compliance isn’t just about avoiding legal trouble; it directly correlates to revenue growth. Smaller firms, especially those under 25 employees, struggle more with compliance but should understand its significance in retaining talent and fostering a culture of trust and respect.
- Training managers about HR laws is crucial. Many managers unintentionally break laws due to lack of awareness, which can lead to severe legal and financial consequences.
- While many firms believe they comply with I-9 requirements, inaccuracies in forms can lead to huge fines. Employers need to ensure all required fields are filled correctly and within the set timelines to avoid penalties.
- Having a documented process for handling HR investigations is essential for both large and small firms. It protects the company from legal liabilities and ensures employees feel heard and respected, preventing them from seeking external remedies.
- Conducting anti-harassment training is vital, regardless of state mandates. It reflects the company’s commitment to a safe and respectful workplace and significantly contributes to employee retention and satisfaction.
- Compliance with FLSA (Fair Labor Standards Act) is challenging due to its complexity. Employers must distinguish between exempt and nonexempt employees correctly and adhere to wage and hour requirements to avoid costly legal issues.
- Adhering to compliance regulations is part of a larger strategy that intertwines with overall business performance. Businesses that take compliance seriously not only avoid legal pitfalls but also enhance their employee relationships, leading to better retention, satisfaction, and ultimately revenue growth.