HighRidge holds ourselves to the highest ethical business standards and best practices, and in doing so, we ensure your company follows the same path. Keeping a strict handle on these legal and compliance issues saves your company from unnecessary expenditures on penalty fees and fines.
Cutting the Costs of Compliance
Some of the most complex and demanding components of employee benefits management are the legal and compliance issues faced by companies today. Compliance and regulatory information are not only strict and exhaustive, but they are constantly changing due to new legislations and reform. 32% of business plans audited by the DOL received fines of over $10,000. Falling behind on legal and compliance issues can be detrimental to the company and its employees, not only in terms of financial loss, but industry reputation as well.
In addition to ongoing ACA compliance concerns, one of the latest regulations currently faced by every company is the new FLSA change enacted by the DOL regarding exempt status and overtime pay. In such instances, HighRidge understands there are a lot of questions, concerns, and preparation to ensure company compliance by the end of this year, 2016. We are here and ready to efficiently and effectively move your company through the necessary changes with utmost care and detail.
These days, in addition to increasing levels of regulations, there are multiple layers of authority requiring compliance on these regulations. With frequent changes and amendments to these regulations, HighRidge will ensure your HR department and company are up to date on the latest information by providing meaningful content in the form of newsletters, white papers, and compliance bulletins.
Extensive Support with HighRidge
HighRidge also provides different levels of extensive support and guidance through these regulatory issues. Through our partnered program, ThinkHR, your company is able to access free, live expert HR support to walk you step-by-step through the necessary processes. For an additional service, HighRidge can send a consultant to visit your site and provide in-person, 1:1 support services. Our certified experts are available to offer state-specific support, as well as assistance through any federal legislation requirements.
We highly encourage open lines of communication with our clients. Part of this communication is delivering the latest information on regulations and healthcare reform. We consistently provide notices and guidance on specific requirements, including summarizing key compliance deadlines and delays. Special email alerts will let your HR department know when those requirements change. Additionally, HighRidge will provide an annual checklist for the year’s requirements.
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