Modern HR in the Cloud Blog

How Compliant is Your HR Function? Part 1

Monday, March 24, 2014

Author: Sunita Khatri

By Alka Asthana

In the initial days of GRC, while we all realized ?Compliance? was important, the list of benefits it resulted in, seemed rather intangible; it wasn't the eye-catching, mind-blowing entries we had come to expect from everything.

Being compliant gave your organization flexibility, agility, reduction in fines … and so on and so forth.

However, the results of non-compliance loomed larger - other than the financial burden it imposed, non-compliance could affect the very reputation of your company.

When you need to state the negatives in order to show the benefits ? our mind gives up.

Stop, scaring me ? it says! But scare it did, and that seemed to push us into action.

With time the art of compliance grew on us.

In a recent research conducted by Ernst & Young, the top finding was that organizations with greater risk management maturity ? that is to say, those that do focus on strategic risks and have integrated their various risk management activities?outperform their peers financially.

Now- this is the eye-catching, mind-blowing entry that we needed!

The positive-spin that our mind grasps easily!

So, how mature is your risk management from an HR perspective and how do you get there?

To ensure compliance we cannot do without

  • Policies
  • Processes
  • Risk Assessment
  • Governance & Oversight
  • Monitoring
  • Training
  • Documentation etc.

We'll examine these components … but that's a topic for another day!

Topics: Global HR

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