Essay about Challenges Faced By Non Compliance

1516 Words Feb 24th, 2016 null Page
Given the possibilities associated with non-compliance, companies should deliberate taking steps to address any HR compliance issues sooner rather than later. With employee litigation—and compensatory awards—on the rise, companies face major potential legal liabilities if they fail to fulfill the HR and employment laws, rules and regulations. Statistics collected by Jury Verdict Research show that employment lawsuits have increased 400 percent in the last 20 years, with the average compensatory reward in federal employment cases now beyond $490,000. For small to midsized businesses, these statistics highlight the need to address any compliance concerns, even if that means seeking guidance from third-party professionals or outsourcing the HR function entirely.
Establishments today find themselves outsourcing their HR department due to cost and the absence of the appropriate assets so that they may be able to focus on essential abilities, growth and talent management. Many businesses have found that outsourcing some of their HR tasks make these goals a reality. The development in the business world today is no longer focused toward the simple acquirement of technology. Rather it’s the prudent consumption of technology to support the trend toward furthering a company’s people agenda. Reaching a balance among up-front and ongoing costs and acquiring the benefits of these investments by promoting employee growth, is the ultimate objective. (ADP, n.d.)
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