The 2023 Compliance Report

In this blog post, we delve into the highlights of the report, exploring the nuances of compliance, the role of technology, and the responsibilities that HR professionals and management bear in ensuring adherence to legal obligations.

Comprehension and Adherence: A Solid Foundation for Compliance

The report kicks off with a positive note, revealing that 49% of survey participants expressed extreme confidence in their comprehension and adherence to complex laws, a crucial factor in positively impacting overall compliance within an organization. This underscores the significance of regular compliance training, a notion reiterated throughout the report.

The Training Imperative:

The report emphasizes the pivotal role of regular compliance training, with a clear correlation between training frequency and the ability to maintain compliance. Shockingly, 23% of organizations surveyed admitted to never conducting compliance training, highlighting a potential gap in knowledge dissemination. ElevateHR Africa encourages organizations to increase training frequency, making compliance concepts more notorious and easier to comply with.

Government Collaboration and Tax Guidance:

Government collaboration emerges as a key theme, particularly in the realm of tax guidance. The report reveals that the government is willing to partner with professional organizations to provide tax guidance, though it's important to note that their opinion is not binding. HR professionals are urged to take a proactive role in tax compliance, staying updated on relevant information and considering other judicial bodies for interpretation when necessary.

Challenges and Automation:

In the report release, challenges such as tax reporting, minimum wage, and employee classification take center stage. Automation is presented as a viable solution to these issues, particularly in the context of remote work. The report suggests that technology, if incorporated from the beginning, can play a crucial role in payroll compliance and data privacy.

Management's Role in Compliance:

Management is underscored as a linchpin in compliance efforts. From providing resources and technology for employees to ensuring adherence to regulatory requirements, the report stresses the importance of management's commitment. A flexible HR technology system is highlighted as essential to adapt to regulatory changes efficiently.

Penalties, Interests, and Continuous Training:

The report issues a stark reminder about the consequences of non-compliance. Penalties and interests may be levied for failure to meet employment obligations, and taxpayers no longer have the opportunity to request a waiver for filing or payment mistakes. Continuous training is emphasized as a crucial aspect for organizations to ensure compliance, with HR professionals playing a pivotal role in managing tax and legal obligations.

Conclusion

As organizations navigate the intricate landscape of compliance, ElevateHR Africa's 2023 Compliance Report serves as a valuable guide. To delve deeper into the insights and recommendations provided, download the full report. 
 

ElevateHR Africa's commitment to unleashing the potential of HR professionals, evident in their robust payroll software and thriving HR community makes them a beacon in the journey towards seamless compliance in the dynamic world of human resources.