Is your Small Business Compliant and Ready to Take on New Employees?
Is your small business compliant and ready to take on new employees?
Keeping your company compliant means ensuring employees have the right training on a variety of important compliance training topics, including things like safety, harassment and discrimination policies. Compliance is mandated by federal, state, or local laws and regulations.
It is an ongoing process of making sure your company and employees follow all laws, regulations, standards, and ethical practices that apply to your organization and industry.
Corporate compliance covers both internal policies and procedures, as well as federal and state laws. Enforcing compliance helps your company prevent and detect violations of rules, which protects your organization from fines and lawsuits.
Many organizations establish a program to consistently and accurately govern their compliance policies over time.
Here are a few things you can do to help keep your company compliant with state and federal laws:
Register as an employer
By registering as an employer, you ensure you are collecting applicable taxes for the employees working for you in each location they are working.
Manage wage and hour law risks
Lawsuits are expensive so, make sure you meet minimum wage requirements and keep accurate time tracking records.
Sign up for a workers’ compensation insurance plan
Workers’ comp plans assure that injured workers get medical care and compensation for a portion of the income they lose while they are unable to return to work and it usually protects employers from lawsuits by workers injured while working.
Collect an I-9 and W-4 for all employees
The I-9 form verifies that employers have verified the employment eligibility and proper identification documents presented by each employee.
Form W-4 includes information your employer will use to determine your income tax withholding.
Order state and federal workplace law posters.
These posters share the law and rights for employees and are available virtually as well as in traditional physical form.