Workplace regulations have gone a long way since the last century, and governments all over the world are taking action against exploiting the workforce. Fair treatment is a standard now in companies; big or small, and you will need to comply with the regulations and legislations, or you might face fines or even going out of business. Cutting your costs to remain competitive might be another priority, and this can undermine your efforts to stay compliant. Below you can learn how compliance and cost optimization can go hand in hand.
You will need to make sure that you know the rules of working hours for each role in your company. With planning your supply chain and scheduling work and setting clear expectations, you can avoid breaches and fines. For example, if you run a delivery company, you will need to know the legislation regarding driver’s hours, but if your workers operate machinery, the rules related to breaks and rest time will be different.
It is recommended that you talk to a human resources professional regarding the latest regulation updates and get your contracts reviewed by them regularly. A contract review is a good way of touching base with your staff, finding out about their problems and long term plans, so you can adjust your strategy and increase your employee retention rates.
To comply with the latest regulations, you will need to establish a health and safety training for your staff, and a policy that covers some of the basics and the details of the training. You should establish a training process and schedule, and have a clear risk assessment procedure established that your employees will follow. This will allow you to show that you care about health and safety.
Developing Your Own Talent
If you adopt a long term thinking, you can significantly cut the cost of running your business. Make sure that you invest in your employee training and development, so you can save time and money training new people every few years. Keeping hold of your best employees who are already aware of your values and processes will make your overall workflow more efficient long term.
There are some processes medium sized businesses should outsource, if they don’t have the time or resources to cover them. Human resource management and employee relations are among these. You will need to ensure that you are maintaining a positive relationship with your workforce, and engage with them. If you don’t have a dedicated HR team, you can use an external agency to take care of all your recruitment and development needs, without having to invest a lot of money running a separate department.
If you would like to manage your costs and your compliance at the same time, you will need to work smarter and outsource some of the processes. Staying on top of the latest regulations is also a good way or protecting your reputation and your workforce.