As a small-medium-sized business owner in Ontario, Canada, HR compliance is not just a legal requirement, it’s a business essential. Neglecting to comply with laws and regulations can lead to costly legal disputes, fines, and even harm to your company’s reputation. But keeping up with the ever-changing laws and regulations surrounding human resources can be daunting. This is where an accountant comes in as a valuable asset.
By law, businesses with more than 50 employees are required to hire a designated HR professional. However, even for smaller businesses, it is still highly recommended to have someone on staff or to outsource to an expert to handle HR compliance. An accountant can provide expertise in creating employee handbooks and policies that are in line with the law, and provide training for managers and employees on compliance. They can also handle disputes and terminations, and assist with creating budgets for employee benefits and compensation, as well as tax planning. An accountant can also help design employee retention programs that are financially sustainable for your business.
In short, HR compliance is essential for the success of any business, and an accountant can help navigate the complexity of legal requirements while also supporting the financial aspects of HR. Don’t let non-compliance be the downfall of your company, invest in an accountant’s expertise today.