LEGAL & COMPLIANCE
Confidently and easily stay on top of your regulatory compliance practices for your global workforce.
What is regulatory compliance?
Regulatory compliance is the adherence of businesses to the laws, regulations and guidelines relevant to their business processes. Maintaining regulatory compliance is critical for thriving in a dynamic regulatory landscape. It’s a cornerstone of good governance for all businesses. By adhering to compliance standards, businesses enhance their credibility with regulators and ensure long-term sustainability.
Regulatory compliance management essentially involves embracing the spirit of legal compliance. Effective regulatory compliance management integrates a proactive approach to meeting compliance requirements across various sectors, from labor law to tax compliance. Companies need to make sure every aspect of their business is operating according to local and international law. You’ll be doing this for your business as a whole already, looking at issues like business law, data protection and tax.
In terms of international employment, this means understanding local labor law in all countries where you’re hiring and how it applies to you. Developing a strong regulatory intelligence strategy can enhance decision-making, especially in different countries with unique laws. Non-compliance, whether intentional or not, can hamper your business operations, your ability to raise funding rounds and your employee retention. Targeted regulatory compliance measures can help you mitigate the risks and costs of non-compliance in advance.
Global HR compliance services
Managing international regulatory compliance for your remote employees can be challenging.
Companies must stay aligned with the regulatory landscape of the European Union, the United States, and other regions to ensure seamless international operations. We support you in your regulatory compliance management with our team of experts and international partners. We clarify the complexities of local labor law in 160 countries and regions, and what these mean for you.
Compliant labor law contracts
Ensuring compliance standards in employment contracts requires careful attention to local laws and applicable laws in each jurisdiction. We provide you and your team with employment contracts that check all the legal compliance boxes. To make your international employment process easier, we ensure that all contracts meet the requirements and standards of labor law wherever your talent is based. This can include the right benefits, statutory leave, overtime regulation, working hours, salaries, global payroll services, amongst many other particulars.
Benefits
Providing global employee benefits that meet local employment law standards is essential as a global employer. Countries determine what kinds of leave employees can take, as well as their social security, healthcare and pension entitlements. Developing compliant benefits packages involves understanding standards set by regulators and aligning with regional compliance practices. We’ll assist you to build benefits packages for your global talent that are attractive and meet local compliance requirements.
Termination
Terminating an employee can be a difficult process for both you and the employee. Our global regulatory compliance team can help you make sure you’re doing everything correctly, according to local employment law. This includes checking things like whether your grounds for termination are compliant, if severance payment is due, and how to communicate the termination to your worker. Failure to address regulatory requirements during termination can expose organizations to significant compliance risk and reputational damage. We’ll help ease the process and ensure you don’t make yourself liable to non-compliance issues and charges.
Onboarding
While onboarding is generally an HR process, you’ll still need to tick a couple of boxes to ensure you are onboarding your new hires compliantly. This’ll include things like checking where your talent is based, whether they have the right to work, review of ad-hoc employment contract requests and providing any mandatory home office equipment in line with workplace health and safety responsibilities. We’ll help you ensure you’re onboarding your new talent according to their global compliance requirements.
International requirements
When hiring a global team, regulatory compliance also means employing in compliance with labor laws internationally. We offer support in managing the complexities of international employment including:
- Supplementary pay and discretionary bonuses
- Exchange rate agreements for inflationary currencies
- Flexible or part-time work agreements
- Performance and disciplinary issues including issuing disciplinary notices and supporting with performance improvement plans
Local partnerships model
Our in-house team of HR experts works with local employment and legal partners to ensure your team is fully aware of current and changing compliance obligations wherever your global team members are based. With our partners, we offer thorough guidance and help you plan in advance of any changes to local labor laws. Our partners are based in all countries where we operate across Asia, Europe, the Middle East, Africa, North and South America, and the Pacific. No matter how complex the compliance issues are, we’re equipped to help you hire and manage talent compliantly wherever you choose.
Data security, privacy, and compliance
We place the utmost value on protecting our clients’ data. We store all our clients and employees’ personal information on our secure HR and global hiring platform, OmniPlatform. We apply the principles of GDPR to everything we do and everything we build, as well as encrypting and anonymising all data as per our industry standards. We also conduct regular penetration tests to ensure our system cannot be breached. You can access your data via the OmniPlatform at any time, from anywhere.
How else can we help?
We recognize that there are lots of other related areas where you’ll need advice and support. Omnipresent isn’t a licensed law firm or a tax advisor but we do work with some of the best and would be happy to introduce you and help support you in any projects or advice you may need to undertake with them. So if you want to offer company shares to the workers you are engaging through Omnipresent, have concerns about income tax for employees who have moved abroad or are trying to get your head around permanent establishment, we've got you covered.
How does regulatory compliance work?
Regulatory compliance management means having a defined structure in place to understand and review legal compliance risks and requirements for your business at all times. In terms of employment compliance, this can include:
- Continuous assessments of your current and future regulatory risks
- Updated information on new regulations in all jurisdictions where you are hiring
- Compliant employment contracts for all employees
- Compliant benefits, social security and leave for all employees
- Compliant global payroll services
- Developing a risk-based compliance monitoring system
Together, these regulatory compliance practices can help you monitor your business’ legal and regulatory compliance at all times, anywhere in the world.
Benefits of regulatory compliance
A compliance system is crucial for your business to operate smoothly and retain both employees and customers. The benefits of legal and regulatory compliance include:
- Mitigate risks: a solid regulatory compliance solution will help you mitigate risks, like fines or legal claims due to non-compliant employment practices. Legal proceedings are not only financially costly, but they also absorb invaluable management time.
- Efficient operations: by mitigating non-compliance risks in advance, legal and regulatory compliance can help your business operations run uninterrupted. This means greater efficiency and sustained output.
- Reputation: businesses with a proven track record of regulatory compliance are also much more likely to retain old and attract new customers and employees. Meeting the demands of legal and regulatory compliance will help you build your brand reputation as a reliable business and a good employer.
What is labor law?
Legal and regulatory compliance means businesses have to employ in accordance with local labor law. Labor or employment law refers to the legal regulations and requirements surrounding employment and working practices. Labor law functions to mediate the relationship between employers, employees, trade unions, and the state. They are there to protect employees’ individual rights as workers, while also providing direction and regulations for employers when dealing with their employees.
As a global employer, you’ll need to be aware of the relevant labor laws in all the jurisdictions where your talent is based. For holistic regulatory compliance management, you will need to employ in accordance with employment laws internationally.
Regulatory Compliance With Omnipresent
By helping our clients stay on top of their regulatory compliance practices, Omnipresent makes global teams work. We are a global EOR dedicated to helping global businesses develop their end-to-end international employment strategy.
Our global services can help you manage your legal compliance wherever your talent is based. Our dedicated team of compliance professionals has the experience and expertise to guide you on your path to regulatory compliance. We provide you with a holistic range of regulatory compliance services to ensure your business remains an attractive and reputable global company. Whatever your needs, our regulatory compliance solutions are fully tailored to your business.
Book a call today to find out how we can help you with your regulatory compliance.
