Compliance and risk with OrgVue
Our survey of HR and Finance decision makers shows compliance is one of the biggest business challenges facing businesses today. Read the research report to learn more.
Compliance tops the agenda
57% of UK businesses say that compliance, alongside governance and risk, is their primary concern over the next 12 months. In the US, compliance is second only to cost reduction as the biggest challenge (41%).
Volatile economic conditions and increasing regulation mean that compliance and risk are on the mind of every business leader but certain issues in particular command the most attention. For our customers and partners in the UK, Brexit and gender pay gap top the agenda. In the US, minimum wage reporting is equally important.
Turn business challenges into performance
While these issues highlight difficulties that clearly impact business performance, they also present compelling reasons to review organizational design.
Brexit is an ever-changing landscape that makes it very challenging (and costly) to plan for the short term. But by using organizational analytics and scenario modeling, organizations can better prepare for uncertainty and become more resilient, adaptable, and positioned to thrive.
In the case of gender pay gap reporting, doing the minimum to comply with regulations is a lost opportunity to understand the causes of pay difference. With new insight, organizations can begin to manage and measure changes, which can lead to a stronger culture and greater profitability.
Reporting on minimum wage payments in the US is complicated by differences between federal and state legislation, which may differ and change. For organizations operating nationally, this increases workload and complexity. By introducing an automated data aggregation process, companies can alleviate the burden of reporting and improve reliability of information across the business.