What is the leading cause of headaches in human resources departments worldwide? We got the answer, “Keeping up with the demands of labor legislation” is the biggest challenge. Also, other significant challenges are: how to handle cultural differences, how to hire and retain appropriate professionals, and how to obtain benchmark market data on remuneration. Financial executives spend about 30% of the time per week (yes, per week!) in compliance with the law. A vast majority of medium-sized companies expect the burden of labor legislation and labor standards to increase over the next years. It is where HR Compliance Services need to perform REAL action.
The impact of globalization on HR
HR Compliance Solutions is something that all companies and individuals will adopt or need to take with increasing enthusiasm. However, managing the human resources challenges that accompany it can become crucial to the success or failure of an organization. Several organizations are in a situation where the lack of standardization and integration of HR processes and payroll has become a crucial issue of legal compliance costs. To address this issue, managing legal HR compliance and risks efficiently means keeping up with Human Resources technology and labor legislation.
The road to better HR legal compliance
A real global payroll solution combines secure and best-centralized practices with local experts who actively participate. This means that everyone works in a standardized way and with fewer tools. If the cloud provides this solution, even better, since it has the advantage of having a system, the infrastructure updated and maintained by external specialists.
How HR Compliance Solutions appeals the strategies of the company
The role of Human Resources is of vital importance, as it supports Management in formulating and executing plans. It is the role that merits the proper and effective management of organizations. The HR department must support the changes and work together. It is to develop and comply with the company’s strategies. HR Compliance diagnoses and helps improve the function. And, thus provide services to the company, as it integrates value defining priorities, mission, and vision.
There are 3 ways where the HR Compliance department supports management to execute the strategies:
- Opportunities and external threats.
- Internal strengths and weaknesses.
- Execution of the plan.
HR Compliance solutions can provide external information, fulfill the tasks assigned, train employees, and thus have control of their workforce. This contributes to the achievement of the objectives through support, adding value, facilitating the transformation to innovation.
Integral solutions of human capital and human resources
HR Compliance services provide practical solutions to your human capital, and human resources need so that your company obtains more significant economic benefits. These service should be adapted and incorporated as soon as possible to accelerate business in this digitalized era.
Some of the benefits for your company:
- Minimize the risk of hiring personnel that affects the assets of your company.
- Reduction of economic losses due to theft.
- Reduce the payment of permanent settlements for resignations.
- Reduce the amount of agreements for the termination of contracts.
- Reduce the number of layoffs.
- Reduce the risk of labor demands.
- Reduce the risk of having to pay awards for large amounts of money for having lost some labor lawsuit.
- Reduce the payment of workers’ compensation by 3 months of salary for constant dismissals.
- Reduce the risk of having to spend large amounts of money on lawyers for legal defense against endless labor lawsuits.
- Savings in publication costs of vacancies.
- To improve your company’s brand.
- To seek and attract the best talent for your organization.
- Direct search for specialized profiles.
- Recruitment for specific positions or projects.
- To develop a tailored recruitment strategy.
- Recruit staff in short periods.
- Support in the raising of profiles: functions, competencies, and responsibilities of the positions to be filled.
- Filter and pre-qualified vacancies in different areas of the operational, middle, and executive levels.
- Deliver reports to the candidates. Savings in time, not having to interview many candidates unfit for their needs.
- Reduce staff turnover.
- Selection of suitable candidates for each position, which will increase your sales.
- Improve the working environment of your company, which increases productivity.