Another important trend to review during Quarter one is projections for any potential HR compliance issues during the year. This is especially important for HR professionals in small businesses that may not have their own cohesive set of compliance policy and procedure guidelines to follow. In reviewing the previous year, top compliance trends presenting the greatest challenges for small businesses to focus on have been broken into two distinct topics:
- The Affordable Care Act. Many HR experts agree that the top compliance issue for HR professionals throughout 2014 will be the Affordable Care Act. Although the Affordable Care Act had been on the horizon for some time, many professionals kept it on the backburner until it became absolutely relevant. Since the ACA impacts businesses of all sizes, it is important to become proactive and educated on the topic. Additionally, the Affordable Care Act has triggered a deeper analysis of benefits.
- Wages and hours. A not so recent but still high-ranking compliance issue for 2014 is that of wages and hours. Litigation threats are still a very big reality for many businesses not meeting compliance requirements and show no sign of letting up, despite being highly technical and extremely outdated in many situations. When an employer is hit with a wage and hour claim, it is typically either a collective (federal) or a class (state) action. Defense costs can be very high on their own, aside from the potential liability involved.
Although compliance issues associated with the Affordable Care Act and wages and hours can seem overwhelming, the good news is that the risks can be substantially mitigated with thoughtful planning. A common habit among many human resources professionals is spending too much time discussing hiring plans and strategy, and not enough time on labor laws. Handling compliance head on and dedicating the appropriate amount of attention can help save your business both valuable time as well as money.
Located in the heart of Portland, Maine, Springborn Staffing takes its business relationship with its valued clients very seriously. Springborn Staffing has been providing best in class staffing services throughout Maine for close to three decades. Contact the human resources experts at Springborn Staffing today. If you are looking for HR recruiting agencies in Portland ME, contact our team today.