4 Compliance Areas You Don’t Want to Skip Over
When you are operating your business, there are always things that need doing. Some of these things are incredibly important, and some of them just don’t matter. The trick is to figure out where things fall on that scale. When it comes to being compliant with legal requirements and standards, these tasks tend to fall on the incredibly important side. Here are a few things you shouldn’t skip over, no matter what.
Every business is required by law to have insurance in case of emergencies. Liability insurance covers any accidents, injuries, or negligence claims that you might deal with, whether they are from employees or clients. The amount of liability insurance and what kind of coverage you need varies from state to state, so make sure you do your research, especially if your business has multiple locations.
Once again, worker’s compensation laws vary from state to state, but as a general rule, if you have at least 1-5 employees, you need to have worker’s compensation. If you don’t have worker’s compensations and claims are laid against you, you could not only end up paying for the claim, but you could also face fines, a lawsuit, or criminal charges. This isn’t something to mess around with.
When hiring employees, you need to make sure that they are who they say they are, and that they are qualified to work in the United States. It can be easy, especially in larger companies, to lose track of paperwork and processes, but don’t let this happen. To avoid this, set up or expand your HR department to make sure you have adequate staff and processes put in place to avoid hiring someone who is going to get your company in trouble.
Occupational Health and Safety
Occupational health and safety standards determine how business owners reduce the risks of common workplace hazards. Construction and warehouse workers are supposed to wear helmets and other protective clothing. Employers are supposed to provide safety training and report injuries properly. Noncompliance does not just involve fines and other punishments – your business becomes more dangerous to work in and creates serious accidents and injuries for your workers.
There isn’t someone leaning over your shoulder, waiting for you to miss something, but you need to make sure you keep up with the legal requirements for your business. Often, people don’t realize they are missing something until it becomes a problem, which can lead to serious consequences. Be proactive about keeping your business compliant, and you won’t ever have to worry.
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