Compliance & Risk Management
Adhere to Regulatory Guidelines and Make Necessary HR Adjustments
Why Worry About Compliance?
Maintaining compliance means adhering to specific policies and standards as required by law. Applied Business Solutions facilitates all industry specific government compliances for you, including monitoring state and federal laws, how these regulations impact your business and preparing and filing all necessary forms and documents. Protecting your business and employees while remaining compliant will ultimately improve your bottom line.
Top 5 Affordable Care Act Concerns for Small Businesses
To illustrate an example where having compliance specialists would be beneficial: on average only 10% of small businesses surveyed have implemented solutions to ensure overall ACA compliance as well as the aggregation & security of their data. Only 12% of companies survey knew what measures to employ to determine ACA eligibility and affordability. When filing ACA reporting, only 24% of small businesses intended to do it in-house. Finally, 50% of those surveyed knew how to respond to Exchange Notices.
- Ensuring Compliance 10% 10%
- Data Accuracy, Aggregation and Security 10% 10%
- Determining Eligibility and Affordability 12% 12%
- ACA Reporting 24% 24%
- How to Respond to Exchange Notices 50% 50%
Managing Compliance Risks
Employee Safety violations are a regular occurrence. Under both state and federal law, employers are required to provide a safe working environment for employees. Even failing to properly inform employees of safety precautions or display emergency procedures can result in hefty fines for a business.