Continually Updated Database of HR Laws
Maintaining compliance with government regulations can often overwhelm HR professionals. Depending upon your number of employees, you could easily spend most of your workday making sure that you’re protected from the myriad of current government regulations. This leaves little time to focus on your other crucial responsibilities. While it’s a necessary part of managing your employees, government compliance can be a challenging and time-consuming endeavor. New regulations continue to emerge; it’s nearly impossible to make sure that you’re following every rule. TPG HR Services USA provides compliance assistance to help your company become and stay compliant with all HR laws.
90% OF ALL COMPANIES SEEK ASSISTANCE FROM AN OUTSIDE VENDOR ON COMPLIANCE ISSUES.
We continually research existing and future employment regulations to help you figure out the best way to maintain compliance with minimal disruption to your internal operations.
The Price of Inaction
Businesses routinely incur considerable consequences for failing to follow federal, state and regional employment regulations. The negative consequences of non-compliance can range from costly legal fees and judgements to government sanctions that can eat up a significant amount of your company’s time and resources. As tempting as it may be to “roll the dice” and hope that the eye of the legal system or government agencies doesn’t focus on your business’ lack of compliance, it is never a good idea, as the negative impact on your business can be devastating, threatening its very existence. In addition, failure to follow legal and regulatory guidelines can have indirect negative consequences as well. When employees get the impression that their employer doesn’t “play by the rules” in any area, this can have a very negative effect on morale, productivity, retention, and even recruitment over the long term. In addition, this can set the tone for employee behavior as well, causing employees to “play fast and loose” with your internal guidelines and expectations in the workplace in any number of areas, potentially creating ripple effects throughout your business and damaging your bottom line.
Setting the Tone for Employee Behavior
When your company’s regulatory compliance is lacking or incomplete, you are inadvertently sending a message to your employees that rules are merely guidelines to be sometimes followed. This, in turn, helps to create an overall company culture where managers and employees may feel that any number of important company policies or procedures are simply suggestions that can be ignored when inconvenient. This kind of “wild west” atmosphere erodes your employees’ confidence in the overall consistency and fairness of how rules are applied in the workplace.
Working in this sort of environment will gradually sap the morale of your staff over time. This decline in employee morale will also eventually be reflected in a decline workforce productivity, as employees’ attitude impact their performance on the job. In this way getting compliance assistance from TPG HR Services to maintain high regulatory compliance standards can be seen as a way to not only avoid costly legal and financial penalties, but also as a way to support the morale and productivity of your workforce.
The Costs of Compliance vs.
Non-Compliance
*Mouse-over to see chart below
According to a 2017 study, regulatory non-compliance costs 2.71 times the cost of maintaining or meeting compliance requirements. Non-compliance costs include those related to business disruption, productivity losses, fines, penalties, and settlement costs, among others.
Source: Business Insights
A Reputation for Non-Compliance can hurt your Employer Brand
Another reason why a commitment to regulatory compliance is so important to a company’s bottom line is the impact it can have on your employer brand. Companies that are known for always doing things the right way in a fair and consistent manner develop a reputation that helps them retain and recruit the best talent available. On the other hand, if an organization develops a reputation for “cutting corners” in the area of regulatory compliance, it will actively repel the best talent from working for them. Current employees at such a company will seek employment at another company with higher standards, while many talented potential job candidates will choose to work for organizations without a non-compliance reputation.
Over time, a company that does not have a strong commitment to regulatory compliance will find themselves with a workforce whose talent level gradually declines relative to that of their competition – a recipe for disaster in today’s increasingly competitive (and talent-driven) marketplace. When seen through the lens of employer branding, receiving regulatory compliance assistance from the team at TPG HR Services is an investment in the retention and recruitment of a highly-skilled workforce, as well as a protection from legal and governmental sanctions.
Let TPG Assist with all the Details
TPG HR Services USA stays up-to-date with the myriad of government regulations, allowing you up to focus on your core business competencies. Whether you want assistance with E-Verify, help navigating new health insurance regulations, or need up-to-date information on regional workplace ordinances, we are ready to support you.
OUR COMPLIANCE ASSISTANCE SERVICES COVER A WIDE RANGE OF AREAS:
Let TPG HR Services USA provide your company with regulatory compliance assistance.
