When an organization’s compliance function is effective, its success is often measured by what didn’t happen. These include lawsuits, damage to reputation, lost business, legal sanctions, and so on. The absence of any compliance-related incident often makes management complacent about compliance.
As a result, companies sometimes reallocate the function’s budget to fund activities that seemingly have a better impact on shareholder value and earnings. But decreasing focus from workplace safety policies carries significant risks.
What you will learn from this white paper:
- How proper contractor management can increase efficiency and decrease spending
- How regulatory compliance penalties continue to change
- What are the costs of an in-house contractor compliance team
- What are the non-compliance fines and associated costs