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Key Trends And Considerations Driving The Future Of HR Compliance

September 19, 2022, by New City Insurance

hr conceptHuman resources (HR) plays a key role in the success of an organization, including working towards compliance efforts. In the workplace, human resources compliance refers to the process of defining and implementing training, policies, and procedures to help employees better understand and comply with all applicable laws and regulations. HR compliance applies to most employment-related laws, such as equal employment, anti-discrimination, and medical leave.

Changes over the last year have many employers concerned about remaining in compliance with changing federal laws and guidelines. Here is a look at some key trends and considerations that are currently driving the future of HR compliance:

HR Compliance Challenges Shaping the Future Of Work

Challenges in HR compliance are quickly shaping the future of work. The COVID-19 pandemic put significant stress on businesses in all industries, as well as their workforce. This economic crisis also altered employee expectations in many areas, such as remote work, paid leave, and well-being.

There has also been a lot of discussion regarding employers’ rights and responsibilities. Since these concerns remain unresolved at a federal level, many states are establishing new laws that put excess stress on HR professionals. Struggles also come in the form of compliance automation through new HR solutions.

Payroll And Other Tax Implications Of Having A Decentralized Workplace

Labor centralization has remained a traditional work model for centuries. Under this model, employees work together in a specified location. However, advancements in technology have enabled work to be completed away from physical workplaces, resulting in tax implications and issues with payroll.

Taxation can become complex when employees are spread across borders, whether across state lines or even globally. The more that a workforce is scattered, the challenge to ensure that tax liabilities remain met becomes more complex. This can lead to tax obligations in two more locations, as well as payroll withholding obligations in the country where the employee resides.

Leveraging Workforce Data Through HR Tech Investment

office employees in discussionTechnology has changed the way that HR handles workforce data. According to the Boston Consulting Group, more than $12 million in venture capital went toward the HR technology market in 2021. However, despite the large array of tools available to HR professionals, it is important to choose the right tools to achieve optimal effectiveness.

Businesses are gaining a better understanding of how to leverage workforce data by investing in the right HR technology.

The Evolution Of Worker Expectations And A Demand For Flexibility

What workers want in a job has changed drastically over the last decade. Today, employees want to work for businesses that possess a great culture that they can feel like they are a part of and that aligns with their values. Many workers also seek greater flexibility in the workplace with opportunities like remote work and paid time off.

Many employers are attracting a new talent pool by meeting worker expectations. According to a Gartner survey of business leaders in finance, legal, real estate, and HR, 82 percent said they would allow some remote work to continue after COVID.

Meeting The Needs Of Current And Prospective Employees

Understanding the unique needs of employees and taking the necessary steps to meet these needs is critical for company productivity, morale, and overall success. There are several benefits of meeting employee needs, such as a happier and more motivated staff, a healthier workforce that misses fewer days of work, higher employee retention, increased productivity, positive employee reviews, and better customer service. It is not only important to meet the needs of current employees, but to also anticipate what prospective employees are looking for and to find ways to deliver.

Considering Employer And Business Needs

Employment laws fall into several categories and companies are required to create HR processes for each area. Businesses must also adapt their policies as their workforce grows to remain compliant. These policies should be communicated in the employee handbook, as well as to employees during HR compliance training.

To create and execute a successful HR compliance strategy, employers and corporate leaders should take into consideration topics like discrimination, wages and working hours, immigration, employee leave, benefits administration, safety, and union rights.

Key Elements Of Consideration For The Future

From data security to pay transparency, businesses must learn the best ways to minimize their risks and stay ahead of the curve. When creating their strategies for HR compliance, there are many areas that companies should consider, including:

hr manager welcoming african applicant at job interview

  • Recruiting and hiring
  • Employment laws
  • Workplace policies and procedures
  • New healthcare regulations
  • Keeping up with local and state mandates
  • Worker demands and expectations
  • Increased focus on diversity, equity, and inclusion (DEI)

When it comes to compliance, organizations must also consider privacy and security. Today, people expect greater control of their data and businesses must take the initiative to implement comprehensive privacy programs for HR data that will keep this information safe.

Prepare To Adapt To Employee Demands And The Evolving Regulatory Landscape

The needs of employees continue to evolve, especially since the onset of the COVID-19 pandemic. Many workers are now seeing permanent hybrid and remote work opportunities, and due to a more competitive job market, employees are in a position to demand more flexibility from their employers.

Employers must use caution when determining the best way to incorporate new features into their employees’ existing benefits offerings to ensure that they are compliant with changing laws and regulations.

There Is A Trend Of People And Purpose Driving Workplace Culture

Most business leaders understand that the diversity of people is what leads to strong teams and better outcomes for companies. Most products and services are intended to serve a wide range of communities, making diversity a must for companies to remain relevant. However, finding new ways to attract and retain a diverse pool of talent is not always easy.

Business leaders must have the ability to empower their employees and make them feel like part of the team. When employees feel valued and supported, they are more likely to contribute to the organization.

Data Continues To Be A Driving Trend In The World Of Work

people disucssing and creating benefits planCompanies in nearly all industries depend heavily on data to operate smoothly on a daily basis. Today’s employers leverage workforce data to help them make important decisions regarding compliance issues. With access to the right data, business leaders can be more confident in their decisions and better meet the unique needs of their workforce.

Real-time data, in particular, is of significant importance when it comes to compliance. With access to timely insights into the workforce, employers can quickly alter their compliance needs and anticipate future compliance issues.

Identifying The Right Growth Partnerships For Success

Ever-changing employment laws and regulations make HR compliance increasingly complex. Many employers find themselves constantly revising their processes and altering their employee handbooks and other documents to maintain compliance and avoid costly penalties and lawsuits.

Partnering with professionals who possess extensive knowledge in these areas is key for long-term business success. The knowledgeable advisors at New City Insurance offer HR compliance services to ensure that your business remains compliant across a variety of critical compliance regulations.

To learn more details about HR benefits and compliance from an experienced consulting firm, contact New City Insurance today online or by calling 888.210.2765.

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New City Insurance
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Carol Zhang
Carol Zhang
04:29 06 Mar 22
As a rapidly expanding national media organization, the employee benefits strategy and administration that New City has provided us during our growth has been invaluable. They have been proactive about informing us of the different benefit strategies available to us as we grow as well as managing the additional compliance laws and reporting requirements at each stage of our growth.
Claudia Villalobos
Claudia Villalobos
20:14 03 Mar 22
New City Insurance made navigating through all the health insurances super EASY. Their documents are highly informative, professional, and easy to work with. Thank you for making the process of choosing a health plan so simple. You guys are THE BEST!
Philippe Salas
Philippe Salas
17:02 22 Feb 22
I never expected to have a good time talking to an insurance salesman, but let me tell you Brendan was quite the treat. He was very helpful explaining the options and has a wonderful sense of humor. I hope to speak with him every time I call.
Jennifer Polito
Jennifer Polito
17:15 09 Feb 22
Super easy enrollment process. Fast and friendly customer service. If you are looking for an insurance company that is there for you every step of the way I highly recommend New City Insurance.
Rocky Salas
Rocky Salas
23:46 07 Jan 22
So friendly, I hope to speak to him again in all my future insurance needs.
Rocky Salas
Rocky Salas
23:38 07 Jan 22
So friendly and soft spoken. I hope to speak to him again in all my future insurance needs.
Jose Brena
Jose Brena
13:20 06 Jan 22
Eric Calciano has been extremely helpful in finding and selecting the right insurance coverage for our company. With many options out there Eric assisted us on getting a low cost provider saving more than 20% than from our competitors and providing excellent coverage for our employees.
Anastasia Beaverhousen
Anastasia Beaverhousen
17:05 28 Dec 21
Signing up for insurance was quick and easy. Felicity Sundsboe
SFCC
SFCC
22:08 29 Nov 21
Jeff Stoltey and his team provide excellent customer service. Jeff has always provided my company SFCC with straightforward options. I went to a larger insurance company only to RUN BACK to Jeff at New City Insurance. I recommend them to anyone needing insurance without hesitation.
Kevin Luby
Kevin Luby
19:13 22 Oct 21
Quick, easy & informative. We were able to secure quality insurance for our small business on a tight deadline. Thanks for the help New City.
Theresa Ruybol
Theresa Ruybol
19:30 01 Jul 21
Eric was so great with us. He was very patient and kind as we are a newer smaller organization who is growing rapidly. With that said, we had made our inquiry, he had great rapid response and mostly had to wait on me. Any request that we made and/or questions we had, he was great answering and helping us understand. Then when we were ready for all documents and to move forward, Brendan helped with getting that together and the two of them worked their magic on New City's end to notify me of what was needed, assist me in that process and confirming that all was complete and approved for the coverage. I just want to say thank you all again so much, as insurance has always been confusing to me, and you all made that process go a lot smoother.Thank you
Andrea Ordendorff
Andrea Ordendorff
21:06 07 May 21
I've been working with both Clayton and Brendan for well over a year. As the purchase of our dental practice was delayed well over 14 months they both patiently supported me and continued to make themselves available. When we were officially ready to sign up they made the whole process seamless and super easy. This team is highly knowledgeable, professional, supportive, and efficient! I can't thank them enough for everything they've done.
T W
T W
22:32 30 Aug 20
I love New City Insurance. I never had a good experience dealing with insurance brokers until I started working with Brendan. He’s awesome! He is patient with me and takes the time to answer all my questions. I’m very grateful for all his help and hard work!
Mary Jane Deyette
Mary Jane Deyette
00:57 11 May 20
Jeff Stoltey is so awesome...even thru my company had only two employees, he took the time each year to research and find the best plan for us. The only reason I am leaving New City Insurance is because we no longer have any employees. Thank you Jeff
Alma Ortiz
Alma Ortiz
22:25 23 Feb 20
Brendan was awesome! I couldn't figure out how to pick my plan and he returned my call on a weekend to help me. Outstansing service!
jessica kavanagh
jessica kavanagh
19:53 13 Feb 20
Brendan was so helpful I definitely recommend him if you’re in need of good help and getting it done promptly. Thankyou so much again.
Tricia DeYoung
Tricia DeYoung
19:49 13 Feb 20
I was very thankful I inquired about this info. with Brendan. He was very helpful so I understand the benefits available much better now. Thank you Brendan.
B Bayer
B Bayer
17:43 24 Sep 19
NCI handled almost everything from start to finish. Clayton and Brendan made the plans easy to understand and walked me through the application process. They got me my ID numbers before my cards arrived so that I could keep an appointment I had already scheduled. My last broker wouldn't have done that. 5 stars!
Jessica Lehr
Jessica Lehr
03:36 07 Jun 19
Our staff was interested in a health plan, but we didn't know how beneficial a solid employee benefits package would be for our business to expand. We'd lose prospective employees because they had more options for their medical insurance which was sometimes more valuable than more pay. The New City team was amazing and gave us as many affordable options as possible so that everyone had their needs met.
Mike McClay
Mike McClay
19:36 03 May 19
My employer uses New City as their insurance broker, and I'm always amazed when I call in for assistance by how knowledgeable and attentive their staff is with my requests. Their online benefits platform makes selecting insurance plans pretty darn easy. I would highly recommend their services.
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