Most Companies Need to Improve their Compliance-Related Programs - New Study by the HR Research Institute
The study, "The State of Employment Law and Compliance Issues 2021," was conducted to investigate problem areas related to compliance and technology to help HR improve their compliance management initiatives.
Continuous and strong compliance processes are critical and effective automation might be one of the keys to success.
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Most human resources (HR) professionals (77%) say that their compliance-related programs are well-funded and proactive, but compliance still tends to be a time-consuming activity that can be improved in most companies.
The free research report, The State of HR Compliance 2021, is now available for download. HR.com's Research Institute conducted the study of HR practitioners to understand and investigate problem areas related to compliance and technology with the goal of helping employers improve their compliance management initiatives and prepare for the future of business.
Clearly there is work to do as only about one-fifth (22%) of respondents rank their organization at the top of the compliance maturity model (i.e., have clearly mapped out processes that are well understood by employees). Efficiency is also an issue, with 70% spending more than a quarter of the average workweek on regulatory and compliance issues.
Staying up to date with compliance issues and evolving laws and regulations is challenging for many HR departments. Among the top barriers for keeping abreast of such changes are:
- technology failing to keep up with compliance changes
- lack of enough personnel to implement policy changes
- lack of in-house expertise
"With the work environment and employment regulations more unpredictable than ever before, HR professionals have their work cut out for them," stated Debbie McGrath, Chief Instigator and CEO of HR.com. "Continuous and strong compliance processes are critical and effective automation might be one of the keys to success."
Download the full report which includes details on eight key takeaways to help HR departments gain insights into how to be adaptable and informed on employment regulations to ensure effective compliance management initiatives.
About HR.com and the HR Research Institute
HR.com's HR Research Institute helps HR departments keep their finger on the pulse of HR! HR.com is committed to creating inspired and informed workforces by maximizing the potential of HR professionals around the world. Almost 2 million HR professionals rely on HR.com as the foremost, trusted industry resource for education, career development, and compliance (that many people can't be wrong!). Offerings include the largest network of HR executives, leading-edge industry research from the HR Research Institute, 13 monthly HR-themed epublications, innovative HR education including 250+ annual webcasts, the most comprehensive HR certification exam preparation program supporting SHRM and HRCI certification, as well as helpful HR tools and legal compliance updates. HR.com has the largest knowledge base of HR practices globally and offers unparalleled training and networking for HR professionals all over the world... 24/7... 365 (just in case you can't get enough HR). Visit http://www.hr.com/hrresearchinstitute to download research (always free) and to maximize HR potential.