Managing Labor Law Compliance
How HR and Payroll leaders can ensure labor compliance
Labor Compliance Issues Can Be Expensive
7 in 10
No. of companies that US Department of Labor estimates are non-compliant with wage & hour laws*
$2.7B
Aggregate amount paid by companies to settle wage & hour disputes over the past six years*
$4.8M
Average amount paid by companies to resolve a compliance related case in 2012*
400%
Increase in number of wage & hour lawsuits since 2001*
*NERA economic consulting report
It’s A Ticking Bomb!
Areas Of Concern When Tracking Labor Compliance
Automated Time Tracking
29%
Absences & Overtime
31%
Time Theft & Tardiness
26%
Meal & Rest Periods
18%
Tracking time for contingent workforce increases compliance concerns
*Dimensional Research – 2013 Compliance Survey
The Capabilites You Need
Features That Organizations Feel Might Help Manage Compliance
Automated Time Tracking
43%
Managing OT, breaks, etc.
31%
Absence Management
37%
Data for Audit
40%
53% of people using cloud time tracking technologies are not concerned about compliance vs only 24% who do not use technology
*Dimensional Research – 2013 Compliance Survey
Cloud-based Time Tracking Offers Many Benefits To Traditional Approaches
100%
Adoption rates on account of the usability they provide
56%
Believe cloud-based solutions optimize time tracking processes*
53%
Believe cloud-based solutions would improve data accuracy*
43%
Believe cloud-based solutions would improve real-time visibility with reporting and analytics*
29%
Believe cloud-based solutions would reduce cost of errors*
*Dimensional Research – 2013 Compliance Survey
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