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1/3 of Medium Sized Businesses Face Fines for Non-Compliance

  • August 18, 2016
  • VAIRKKO

Many businesses and organizations continue to struggle with compliance issues.  The ACA law, new changes in wage and hour laws, OSHA and EPA regulations and other compliance issues can be be a real challenge.  According to a recent study of mid size organizations (50-999 employees) 1/3 of respondents report having been fined or penalized in the past 12 months due to non-compliance.   The average cost of these fines was over $30,000.

There are some simple steps you can follow to help ensure compliance and reduce the risk of fines, penalties, and the bad press that comes with non-compliance.

  1. Depending on the size and type of your organization you can hire a compliance specialist and/or form a compliance committee.  Your compliance committee can meet regularly and should have the backing and support of senior leaders.  This is important in case the committee meets any resistance from front line managers or staff.
  2. Automate record keeping so that it is easier to keep track of things like; employee certifications and training, the number of hours an employee works, employee performance reviews and disciplinary actions, and the number of days since your last workplace injury.  Ideally the system you choose will allow you to easily run reports so you can quickly analyze your data.
  3. Have a culture of compliance.  Reward and recognize employees who bring compliance issues to the attention of managers and leaders.  Organizations need to look at compliance as an opportunity to improve and not as an obstacle to overcome.

Taking these 3 simple steps can help you remain compliant and win!

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