As 2024 unfolds, organizations managing large contingent workforces face increasing challenges in employment law compliance. Recent hefty fines against well-known companies highlight the critical need for vigilant workforce management. Panther Workforce Solutions (PWS), as a Minority Owned and Certified business, offers robust solutions to navigate these evolving compliance landscapes effectively.
How Can You Keep Your Organization’s Workforce In Compliance?
Recent Compliance Fines and the Growing Importance of Compliance Management:
In 2024, OSHA increased penalties for safety violations, with maximum fines rising to $161,323 per violation. Financial institutions have also faced substantial fines, such as Morgan Stanley’s $249 million settlement for fraud allegations. Additionally, the Environmental Protection Agency (EPA) has raised its fines for non-compliance with environmental statutes by approximately 3.2%. These examples underscore the urgency for organizations to prioritize compliance to avoid significant financial repercussions.
Panther Workforce Solutions: Your Strategic Partner in Compliance:
PWS’s Managed Services Provider (MSP) program is designed to help businesses like yours stay compliant amidst these stringent regulations. Leveraging our expertise, we manage vendor compliance, ensuring that our diverse supply chain, including minority-owned, women-owned, and veteran-owned staffing firms, adhere to the latest legal standards. We also provide comprehensive worker classification guidance, an essential factor in compliance.
Adapting to Employment Law Changes with PWS:
The landscape of employment law is continuously evolving. For instance, in 2024, Washington State saw its minimum wage rise to $16.28 per hour, necessitating adjustments in compensation strategies for exempt employees. PWS stays abreast of these changes, offering insights and solutions to adapt quickly and efficiently. Our services ensure that your organization is not only compliant but also positioned to harness the advantages of a diverse and dynamic workforce.
How Do You Stay in Compliance?
In an environment where compliance risks are more pronounced than ever, partnering with Panther Workforce Solutions provides a strategic advantage. Our commitment to diversity and compliance excellence positions us as an ideal partner for organizations seeking to navigate the complexities of modern workforce management. By choosing PWS, you choose a path of compliance, diversity, and operational excellence.
Note: For more information on how Panther Workforce Solutions can assist your organization in workforce compliance and management, please contact our team for personalized guidance and support.
Learn more about how Panther Workforce Solutions can help you manage your workforce. Learn more about our Managed Services Provider (MSP) solution, Talent Management, Payrolling and Supplier Diversity. Contact our team today to learn more.
