The faster the world changes, the harder it is to maintain compliance. Here are a few top compliance issues, and resources to help you tackle them.
The pace of change in employment laws and government policies shows no signs of slowing. Organizations are managing the impact of the pandemic, changing governments, and labor and tax laws that differ between in each country, region, and city.
U.S. Chamber of Commerce
As uncertainty grows and maintaining compliance becomes more challenging, organizations face greater risk. Compliance errors can cost companies big in the form of fines and penalties, brand damage, and even lost productivity.
Cost of Compliance 2020, Thomson Reuters
As the scope of compliance activity starts to creep, you have less time for other work. Every minute your team spends trying to keep up with changing requirements is time they’re not focused on your core business, your people, or the future.
The secret to managing risk without letting compliance work take over is investing in a solution that helps automate some of the work, while still giving you visibility and control.
Whether it’s a change to employee tax laws or a new COVID-19 policy, your platform should be one step ahead of what’s going on in the world. Save time and lower risk by partnering with compliance experts who study legislative changes, and build capabilities right into your workforce platform.
Keeping data secure is more important than ever, and the penalties for failure are high. Choose a technology partner that follows accepted data privacy and management frameworks, such as GDPR, for collecting, handling, retaining, and deleting data, while maintaining alignment to ISO standards.
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