What keeps you up at night? According to a recent ADPRI* survey, mid-sized businesses worry about government regulations and the unforeseen fees and penalties that may be imposed by regulatory oversight. In fact, 40% of participants indicated they had incurred “unintended expenses related to noncompliance with government regulations.”
A primary area of risk exposure for businesses is satisfying the dizzying array of employment laws. Here’s a snapshot of compliance areas that pose high-risk potential for all employers:
- Applicant rights: do your application, screening and selection processes honor legal requirements?
- Recordkeeping: are you keeping the right records, in the right way, for the right amount of time?
- Employee legal rights: are employees being properly notified of their legal rights, and are their rights being honored in your practices?
- Pay and benefits: are employees being properly compensated and provided mandatory benefits? Is the administration of optional benefits programs legally compliant?
- Supervision: are supervisors, managers and organizational leaders consistently practicing appropriate behaviors and honoring polices to reduce non-compliance risks?
- Termination: have your practices supported the decision to terminate someone for legitimate business needs?
The MSEC team of Employment Law Attorneys and HR professionals is here to help members identify, evaluate and mitigate risk exposures in the above situations. It’s impossible to eliminate the risks of doing business, but membership provides the right blend of individualized guidance, expertise and resources to manage the risks of being an employer.
The study also cited the desire of these employers to focus their energies instead on employee engagement and retention initiatives; 50% indicated a need for leadership and professional development training. Again, MSEC membership provides access to expertise and resources to pursue these essential business goals.
Stop losing sleep and call MSEC today to use your membership or become a member!