Compliance is a part of the business. While it is not as interesting as strategic sales growth or viral marketing, it is foundational to business operations. Compliance refers to the laws that businesses are obligated to follow regarding employee safety, hiring, firing, and other company policies, as well as how companies pay taxes, protect private data and deal with discrimination. There are federal and local laws that businesses need to be aware of, and many laws, like minimum wage, are subject to change with some regularity, like during election cycles.
Statutory compliance can be difficult for some companies to stay on top of, simply because there are so many rules, constant changes, and various levels of compliance to be aware of. Some businesses choose to hire a compliance officer to handle this very thing – a dedicated resource for this part of the business. If statutory compliance is not part of your HR department’s process, it could be outsourced to a third-party. Luckily, many outside agencies exist to help businesses stay compliant.
List of Statutory Compliance Service Providers
Here is a list of statutory compliance service providers that may be able to help your business stay in the know and avoid costly legal issues.
Alp Consulting: This organization is a full-service HR firm in India. Their services include HR services and payroll services, but they also offer comprehensive knowledge in statutory compliance. They work with businesses who have more than fifty employees and use their expertise to ensure that businesses are knowledgeable in not just the laws themselves, but timelines for compliance, documentation, and the importance of and process for conducting compliance audits. The laws that they are experts in, and can help your business understand, includes The Shops and Commercial Establishments Act, The Professional Tax Act, the Maternity Benefit Act, and many other national laws that businesses must be aware of.
Protiviti: This company provides regulation support for companies in the US, focusing on medical establishments. Healthcare organizations have additional compliance needs beyond just legal employment laws but relating to patient privacy. Protiviti offers services like compliance analysis, clinical research audits, HIPPA privacy review, physician contract review, compliance program effectiveness, and more, all to help make sure that healthcare businesses are working ethically and won’t be exposing themselves to unnecessary risk.
America’s Job Exchange: The US federal government is actually a huge business customer, and many public and private companies do business with them every year. For those businesses, there are additional compliance laws and regulations to be aware of. OFCCP refers to Office of Federal Contract Compliance Programs, which is part of the United States Department of Labor, who are responsible for ensuring that employers doing business with the Federal government comply with the laws and regulations requiring nondiscrimination. America’s Job Exchange are the experts on OFCCP compliance issues and partner with organizations to help them keep their federal contracts.
Compliance issues are a real thing for every business, no matter they’re located or what they do. Each has regulation issues that need to be addressed, whether it’s employee law, workplace safety, discrimination policies, or protecting sensitive employee and customer information. This can be a heavy lift for many companies and it makes sense to higher a statutory compliance service provider for many organizations.
Using a compliance service provider is a proactive way for your business to assess their potential for risk and stay ahead of possible issues. The organization that you partner with will depend on your business location and company needs. If you are a startup, you may need a more invested commitment up front to help you get established and build understanding. You may also need to find a firm that has special knowledge of laws that apply to your area. Whatever organization you end up working with, it’s a smart investment for your organization to help better conduct ethical business and prevent legal problems for your company.