Pressure to comply with requirements of the Affordable Care Act (ACA) is a looming challenge for most organizations today. Many go through numerous manual iterations such as running reports and compiling data into spreadsheets from benefits, payroll and HR systems to calculate whether their employees are eligible. As my colleague Stephan Millard explains in “Is Your Organization Technology Ready for the Affordable Care Act?”, the ACA applies to organizations with 50 or more full-time employees who work more than 30 hours a week; individuals not covered by an employer can get insurance through the government. There are a great many details for employers to address in the ACA, and most HR departments lack a smooth process and effective technology to generate the information to determine compliance.
Topics: Big Data, Business Analytics, Business Performance Management (BPM), Cloud Computing, Equifax, Financial Performance Management (FPM), Human Capital Analytics, Information Applications (IA), Information Management (IM), Operational Performance Management (OPM), Workforce Performance Management (WPM), Analytics, Office of Finance, Business Intelligence
Businesses need to simplify HR and compliance processes to save time and reduce risk. Talx, which helps employers address concerns in hiring, pay and compliance, has now assumed the name of its parent company and become Equifax Workforce Solutions [PDF]. HR and finance professionals should recognize the parent company’s brand from its work in the consumer credit industry. The company hopes these professionals will see that Equifax Workforce Solutions offers a better approach to governance, risk and compliance. According to our research, 79 percent of organizations want a better method to identify and manage risks faster.
Topics: CFO, Compensation, compliance, Equifax, eThority, finance, Financial Performance Management (FPM), Governance, Risk & Compliance (GRC), GRC, Hiring, HR, I9, Operational Performance Management (OPM), TALX, Workforce Performance Management (WPM), Workforce Solutions, Office of Finance