How much could it cost a U.S. business to implement changes to its policies and processes for managing compliance with labor-related regulations?
Per a recent survey from The Workforce Institute at Kronos and the research group Future Workplace, it could cost as much as $100,000. Get all the numbers in this eye-opening infographic.
You’ll read how costs are rising and the compliance landscape is becoming trickier and riskier to navigate — and how much this is complicated by use of outdated manual processes and systems.
Here are just some of the facts:
- 68 percent of survey respondents said compliance has become more expensive in the last year
- 58 percent reported witnessing colleagues occasionally cutting compliance-related corners
- 56 percent said they feel their HR/payroll systems are outdated and make compliance challenging despite their team’s best efforts
Download this infographic to find out how today’s best human capital management solutions can provide single-employee-record data management and streamlined processing to ensure you align with compliance requirements and pay your employees correctly every time. Kronos proven expertise, experience, and technology can remove the pain of compliance and payroll changes for even the most complex organizations.