Apply a Compliance Approach to Strengthen Business Success
In managing compliance, organizations face several challenges. First, employers may underestimate the preparation needed for new regulations and find themselves scrambling for solutions when those new rules go into effect. Companies also may suffer from redundant or misfocused activity, particularly as they wrestle with regulations that vary by country, state, or territory. Finally, anxiety weighs heavily on many organizations as HR or procurement decision-makers recognize the need to address new regulations but have limited ideas of where to begin their efforts.
Legal counsel alone will not provide the solution to many of these issues. With that in mind, employers can take advantage of several approaches and resources to stay ahead of regulatory needs. Among these enabling forces are the power of data to improve workforce visibility, the influence of communication to build a culture of compliance, and the power of internal and external resources to address changing conditions. These strategies and more are outlined in our latest white paper, “Demystifying Compliance: Priorities for a Workforce Advantage,” available for immediate download today.
Data Provides Workforce Visibility
While the proliferation of data raises privacy risks, it also provides a tremendous opportunity to improve alignment with certain regulations, most notably those surrounding worker classification. The challenge is that many companies may not be aware of who hiring managers are engaging as contractors, freelancers, or other non-employee talent. As a result, the organization not only lacks such visibility, but it also lacks any understanding of how that talent is managed.
The right combination of technology and human expertise can address the issue. Through a focused strategy, an organization can bring worker data into a shared environment and then apply AI tools to analyze it and determine any misclassified talent. With visibility into the entire workforce, an employer can quickly adjust to a variety of regulatory demands with a level of precision and measured outcome not possible even a few years ago.
Communication Enables Compliant Operations
The many processes and interactions involved in managing talent contribute significantly to an employer’s risk exposure. These issues can only be handled if the employer recognizes and acknowledges an ongoing need to monitor them as both processes and regulations evolve constantly. Socializing the do’s and don’ts, as well as best practices, will also require management and leadership buy-in, training, and continuous monitoring.
Bringing practices to bear across an organization is an effort in educating and informing multiple resources and players. For example, educating high-level decision-makers is not enough. A proactive strategy creates clear paths of cascading communication across all levels of leadership, management, and operations. Likewise, an established process for escalation provides a quick way to better respond to issues before they create larger problems.
Internal and External Resources Drive Proactive Compliance
The responsibility for monitoring regulatory demands typically falls on internal counsel, followed by HR and procurement functions that engage workers, and everyone involved in managing the affected people and technologies. A culture of awareness, communication, and education are all essential for staying ahead of workforce regulations.
Externally, a capable talent solutions partner can provide valuable input and support. For example, a partner with significant experience in managing workforce engagement issues can help the employer recognize, prioritize, and address areas of need. The right provider can also introduce technology tools that identify and classify all worker types, as well as help the employer better handle and protect worker data.
Get the “Demystifying Compliance” Report
For more insight into how to stay ahead of compliance and regulatory trends, download your free copy of “Demystifying Compliance: Priorities for a Workforce Advantage” today. Then contact us to learn more about building or enhancing your relationship with Allegis Global Solutions.