Many of the changes that were enacted by the Dodd-Frank Wall Street Reform and Consumer Protection Act and the amendment to the compliance rules and regulations that seem to be made on an ever-changing basis, means that you need to be more vigilant than ever when it comes to compliance. If your company employs a number of independent contractors for example, you could be spending more time overseeing their compliance then running your business properly. This is when you may start looking for other employment solutions such as outsourcing your compliance needs.
Common in Small and Medium Sized Companies
It only makes sense that smaller companies would make use outside compliance as a solution. They have only so much capital for staff and hiring and keeping a compliance officer up-to-date educationally and current on all changes to the regulations can become quite expensive. If you work with an outside company, not only will it save you money, you will have the services of a skilled professional compliance officer at your disposal. All the education and training costs are borne by the employment company.
The Need to Delegate
Delegating compliance issues by outsourcing them means that you will be able to use that time to grow your business and increase its profits. Rather than spending valuable time trying to figure out changes to regulations and forms, leave that and other employment solution to the company you contracted with to deal with such issues. Not only will you have the necessary time to promote your business and be more creative, you will see that you will save an average of 26% over dealing with compliance matters yourself. You can avoid penalties and fines by hiring independent compliance services. The staff at Innovative Employee Solutions are more than happy to answer all of your questions and concerns.