Companies Like Mine: Unexpected Effects of the New Regulatory Environment
Cliff Stevenson, Principal Analyst – Workforce Management from the Brandon Hall Group, dropped by this week to write a guest article for us. Thanks, Cliff – good stuff…
No matter where you work or what you do, workplace regulations affect you – even if you are not fully aware of them.
- In May 2016, President Obama signed and made official the newest revisions to the Fair Labor Standards Act, which is estimated to affect more than 4 million workers in just its first year.
- In March 2010, the Affordable Care Act was signed into law, which also greatly impacted the lives of both workers and employers by extending and changing rules governing workplace (and personal) insurance.
- And before Congress now is the Pregnant Workers Fairness Act (PWFA), which aims to give much greater protection to pregnant workers and their families by extending the requirements of employers regarding those workers.
And the list goes on.
This is by no means an exhaustive list, but it helps to illustrate the importance of workforce compliance in the modern world, as workplace rules and regulations are shifting rapidly (or being brought into existence for the first time). And yet when Brandon Hall Group conducted our last research on workplace compliance, we found that organizations are struggling to keep up, to say the least:
But wait – there’s more.
An often overlooked impact of rules and regulations is another hot topic within HR: workforce analytics. Most, if not all, of the regulatory changes listed above will require an increase in record-keeping. This record-keeping is necessary for government audits, of course, but also provides data into the workings of your own organization. For instance, by tracking a more complete set of hours and job codes, as made necessary by the updated FLSA, you may find that there are some inefficiencies that previously would have gone unspotted.
This concept of gaining greater insight into the inner workings of your own organization is not new, but often companies will balk at the idea of spending resources (both time and money) to put into place systems and procedures which will uncover those insights. Many of these regulations force your hand, which can be viewed in a positive light if you are able to turn these new data streams into insights and ultimately actions.
Wouldn’t it be great if you could know how organizations like yours are impacted by, or adapting to, the new regulatory environment?
Wouldn’t it be helpful to know how organizations are structuring compliance and training their people to do what is needed?
Wouldn’t it be great to know how high-performing organizations are using these new regulations to gain awareness of their own workers and workplace systems, not only to comply but to make their companies better places to work?
That is what Brandon Hall Group, in partnership with Compli, wants to provide through our 2016 HR Compliance Survey. But we need your help. We need you to take just 10 minutes of your time to complete the survey.
The Big Question: What’s in it for you?
Quite a bit, actually:
- First, we will provide you with a complimentary research report once you complete the survey. Just a small token of our appreciation.
- The first 100 people who complete the survey will also get a gift card – a slightly larger small token of our appreciation.
- But more importantly, we will share the results of the research with everyone who takes the survey. This can provide you with important insights. By examining compliance practices, we can use that data to see if there are certain methods that are more common in high-risk organizations, or certain industries, or by varying geographies. Once that data is gathered, we can then show what top-performing companies do differently, but also lay out concreate steps for improving your own compliance methodologies, based on your current practices.
After our last compliance research, we created a Compliance Decision Matrix that did just that: by finding your frequency of compliance checks on the y axis, and your level of automation (or complete lack thereof) on the x axis, we provided the exact actions needed to raise your organization’s compliance level.
The newest survey will be able to expand on that Compliance Decision Matrix by adding in factors such as risk level (based on responses to the question: What is your organization’s overall level of risk for HCM compliance?) and common barriers such as a lack of funding or a lack of support from leadership. By seeing how organizations overcome these common barriers or perceived risk levels, we can help you plan a roadmap for continues compliance excellence.
Now, isn’t that worth 10 minutes of you time to take the survey? Just click on any of the links provided in this blog, and you will be on your way. Thanks in advance for your participation.