The burden and complexity of compliance is growing, and the repercussions for failing to comply fully with laws and rules are damaging and far reaching. Many regulations apply to companies regardless of industry, such as data privacy, safety, and work rules, while others are specific to an industry. Non-compliance in highly regulated industries, like healthcare, finance, or manufacturing, can result in significant, sometimes catastrophic business disruption. Add the layer of geographic-specific regulations and multinational employers face an even greater risk management challenge.
Organizations must address compliance aggressively and proactively to manage risk and avoid major surprises. Today’s dynamic regulatory environment can be daunting, especially in highly regulated industries with complex rules, internal policies, and processes. Human resource (HR) and compliance managers need to keep up with new laws and changing regulations, ensure the workforce is trained, and verify that all compliance rules are enforced.
In this white paper we will discuss what it takes for an organization to establish a comprehensive approach to their compliance program that embodies an effective HR solution.
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