This webinar provides an update on the status and evolution of HR audits.
The HR auditing process is or should be an independent, objective, and systematic evaluation that provides assurance that:
1) compliance and governance requirements are being met
2) business and talent management objectives are being achieved
3) human resource management risks are fully identified, assessed, and managed; and
4) the organization’s human capital adds value. Under this definition, HR audits are more than an assessment that solely collects and presents evidence of compliance. HR audits are increasingly expected to look behind and beyond the organization’s assertions of sound and proper HR management practices and to assess the assumptions being made, benchmark the organization’s processes and practices, and provide the necessary consultative services that help the organization achieve its business goals and objectives.
This webinar also discusses the design of the HR audit. While a powerful management tool, HR audits are a doubled-edge sword. First, the act of observing and assessing organizational and individual performance, changes the outcome. Who gets observed and measured, get motivate. Individuals and organizations act respond to the spotlight. In designing the HR audit attention should be give to the message you will be sending about what the organization considers important and what outcomes it expects. An improperly designed and implemented HR audit can choreograph the wrong compliance dance.
Second, HR audits produce actionable information. While ignorance of non-compliance is hardly an effective defense, knowledge of noncompliance followed by inaction is indefensible. This webinar will review organizational behaviors that ensure effective corrective action.
Third, HR audits produce potentially discoverable information. Coordination with legal counsel is increasingly critical. This webinar also reviews effective coordination activities.
Why you should attend
: Government agencies have stepped up their compliance audit activities. With larger audit staffs and increased resource commitment, federal and state agencies have made compliance a top priority. No employer is too large - or small - for scrutiny. The consequences this audit activity and a finding of non-compliance include monetary penalties in the form of fines, penalties, awards, and settlements; debarment and lost business opportunities, and criminal prosecution.
The revenue/earnings impact of non-compliance can be significant. Companies with a 10% profit margin will have to generate $1,000,000 in new sales to offset the cost of a $100,000 award. For publicly-traded companies the magnitude of potential liabilities and lost revenue from non-compliance can impact the organization’s valuation and has to be reported as a material risk.
Areas Covered In the Session:
Who will benefit:
- The five Critical Components of HR Audits
- Inherent, residual, and material human capital risks
- Human capital risks to financial statements
- HR auditing techniques to improve HR management performance and reduce liabilities;
- Effective HR audit plan
- Senior Management Team
- Directors, and Administrators
- Employment Managers
- Training Director