Are you prepared for distribution of your annually required employee notifications? With several states requiring annual notifications it’s imperative that you have a sound compliance plan in place to protect your organization.
How are you planning to manage this process? Here are 5 reasons you should consider an automated electronic compliance solution for your annual employee notifications.
1. Administrative Efficiencies – There are many different notices that employers must manage. Some notifications require multiple different forms to be provided in several different languages. An electronic compliance solution will streamline the process by automatically distributing required forms to specific employees and provide the option for them to choose to have the notification displayed in their preferred language. For example, the New York Wage Theft Prevention Act has 7 different notification templates that must be provided in 7 different languages.
2. Secure Data Management – Some notices contain specific data that is relevant to each employee. An electronic compliance solution would automatically populate forms with the necessary employee specific data saving time, improving accuracy and increasing security around confidential data.
3. Reduced Time and Errors in Data Entry – An electronic compliance solution provides a streamlined tool for both managers who are required to distribute and collect notification acknowledgements as well as employees who must review and acknowledge receipt of these forms. Through real-time integrations, data can be passed into a system to automatically trigger notifications with the right data, at the right time. Data in the system can also be exported to Payroll or Document Imaging systems, saving administrative cost and reducing errors.
4. Simplified Compliance Tracking – The reporting provided with an electronic compliance solution gives employers a clear view as to which employees have viewed and acknowledged receipt of required documents, and those employees with outstanding notifications. This reporting helps local managers and corporate level stakeholders easily stay on top of their compliance needs.
5. Audit Trail – The government has been increasing the number of audits and fines, an electronic compliance solution stores data and forms needed to provide a clear audit trail to prove compliance.
Be sure to review Equifax’s Labor & Employment Compliance Bulletin that outlines best practices for employee notifications.
Equifax’s Compliance Center can help you reduce risk and improve efficiency while managing your annually required employee notifications.