Beyond Box-Ticking: Finding Value in HR Compliance
Posted by Chris Murphy in Human Resources
The word ‘compliance’ usually conjures up a number of unwelcome images of the reporting and audit measures required to make sure a business stays out of hot water.
But here’s the great news...
For today’s savvy HR and recruitment professionals, a smarter, more proactive approach to compliance will not only protect your business but also add value to it - making you the driver of a more successful business process.
The Growing Importance of Recruitment Compliance
All businesses need to protect themselves against avoidable hiring risks but, in sectors that call for strict governance, this requirement is amplified. For those in the public, healthcare, legal, and banking sectors (among others), a lack of compliance can be hugely detrimental to more than just corporate image.
The business impact of recruitment and search agency compliance is gaining attention now also.
Today, more recruitment firms are signing contracts that see the liability of a placement sitting squarely with them.
Clients are no longer willing to accept the fate of a hire recommended by a recruiter simply at face value and so it’s becoming increasingly important to demonstrate fully auditable compliance during the hiring process.
Traditional Compliance Pitfalls
As with any process or protocol that requires data handling, finding value in compliance first requires fast and effective management of the data available.
Typically these processes will be almost entirely manual, meaning they are:
- Time-consuming - ensuring accuracy in manual data management is an admin-heavy and time-intensive process that consumes a wealth of professional resources.
- Repetitive - conducting the same box-ticking due diligence can become repetitive and often leads to corner cutting to get the job done.
- Risky - entirely manual processes are inevitably prone to human error that can lead to costly mistakes and expose businesses to unnecessary risks.
Getting Smarter About Compliance
Human experience and intuition are important, but couple them with tech efficiencies, and you have a recipe for smart compliance success.
By introducing technology to support the HR and recruitment decisions you make, you will benefit from:
- Time savings - automated tech-based solutions take care of the repetitive, admin-heavy elements of critical compliance measures
- Productivity and billing improvements - with a more efficient and motivated team, you will see a spike in the productivity and billing levels they can achieve
- Better, more insightful data - as well as generating more data, smart tech-based solutions deliver valuable insights that recruitment leaders can confidently base broader business decisions on
- A positive brand impact - a more efficient, effective and secure approach to compliance ensures everyone involved in it - from employees to candidates, referees, and clients - is given a positive impression of your corporate image.
Leveraging Smart Compliance for Business Success
Beyond safeguarding your business, ensuring compliance can put you in a very favorable position with business leaders, for the hidden revenue-generating benefits it can offer.
Moving from a “necessary evil” mindset to acknowledging the opportunities of a smarter, data-driven approach to compliance is the first step.
Using the right platforms and approaches, the compliance measures that used to be the bain of your life can very well become a viable tool for understanding hiring trends, building talent pipelines, supporting business development, and market mapping.
Move away from seeing it as a box-ticking exercise and you could see real value in the insights and impact a smarter approach to compliance could offer.
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