Abiding by all the laws of corporate compliance has become more complicated and difficult as rules and regulations proliferate…but you have no choice. The risks of non-compliance are too great and too costly. If your business gets audited or sued, you are at risk of being fined hundreds of thousands to millions of dollars if your records and practices are non-compliant with employment regulations. Besides it is the right thing to do.
Without Moses to enforce compliance, here is what you need to do to strengthen the corporate compliance program at your organization. Make sure that:
- Leadership: Your leadership is fully on board, fully knowledgeable and actively, visibly compliant.
- Risk Assessment: You have assessed the risks across the entire organization from how you do business abroad to how you choose partners and contractors here in the States.
- Code of Conduct: You have clearly articulated and disseminated a company code of conduct and have a process in place to enforce it.
- Relevant Training: You provide relevant, effective and proven corporate compliance training for everyone from directors to part-time employees in a way that makes sense for your business, your corporate culture and your talent strategy.
- Current: You stay on top of any changes in regulations and potential infractions with a tightly controlled system of oversight and monitoring.
No comments:
Post a Comment