A new survey out by the Workforce Institute at Kronos finds the cost of legislative compliance for employers could reach up to six figures per rule.
The survey, conducted with Future Workplace, included input from 812 HR and payroll leaders on their views regarding regulatory compliance:
What we heard back is that it can cost organizations as much as $100,000 each time a federal, state, or even local labor-related regulation is created or changed.
Here are the key findings from this research:
More than half of HR and payroll professionals (54 percent) surveyed say that, on average, it costs their organization $40,000 to $100,000 to prepare