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The Compliance Continuum [Infographic]

From payroll and taxes to healthcare and benefits, the impact of compliance on businesses is enterprise-wide. Not surprisingly, many companies shy away from compliance management because they feel it can be too complex, too costly and ultimately drains valuable resources.

Indeed, a new survey released by ADP, in collaboration with CFO Research, reveals that more than one-third of senior finance and HR executives surveyed say employment-related tax and payment compliance is a low priority or not one at all. These businesses may be taking an unnecessary risk. By ignoring new regulations, they could be subject to large penalties or legal action. They’re also putting their brand and reputation on the line. Is it worth it?  Download the report.

In our upcoming series, “Compliance Continuum,” we’ll explore how many companies view employment-related tax and payment compliance and the impact it can have within their organizations. What we found may surprise you – a robust compliance program can offer a range of unexpected benefits. Businesses that make compliance a priority often have better structural capital, a competitive edge against other contenders in the marketplace, a stronger bottom line and company culture, and a more engaged workforce. Our survey reveals that more employers are starting to recognize these benefits and view compliance as a best business practice instead of a burden. In fact, more than two-thirds of respondents give their company an “A” or “B” grade when it comes to compliance management.

See the Compliance Continuum

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See our previous infographic the Compliance Conundrum

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ADP SmartComplianceSM is a cloud-based unified platform that helps ease the burden of key employment-related tax and payment compliance activities, virtually agnostic to your ERP, human resources or financial systems of record. For more insights and data, or to learn about ADP SmartCompliance, visit www.adp.com/smartcompliance.



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