Even before the , we were seeing a rise in the number of government regulations around the world and a rise in the pace of changes to regulations. Throw in the uncertainty of the pandemic and pretty much every organization in nearly every country is looking at new rules for managing workforce health and safety. As the situation evolves and more data comes in about what works and what doesn鈥檛, those rules are in continual flux.听

The good news is that this is a problem that technology can streamline and simplify, as long as the tech provider fully understands and embraces the scope and complexity of the problem. The other good news is that 麻豆原创 has nearly 50 years of experience in solving the world鈥檚 most complex problems and works to provide embedded automated support for managing regulatory changes in more than 100 countries.听

What Types of Regulations?

Right now, we鈥檙e seeing rapid change in three main categories of regulation:听

Employee Health and Safety
Many industries, such as manufacturing, mining, and energy production, have long had robust health and safety programs designed to keep plant and field workers safe and productive. In the wake of the pandemic, those existing programs need to be extended to include office workers at corporate headquarters, while other 鈥榣ess hazardous鈥� industries such banking or retail suddenly find that they need far more robust workforce safety training and tracking.听

Data Privacy and Security
When the EU passed the General Data Privacy Rule in 2016, the rest of the world had no choice but to take notice, and many other countries also passed legislation outlining how personal information needed to be managed and used 鈥� or not. For employers, this has had a massive impact on how they manage personally identifiable information (PII) of their employees. They must appropriately manage and secure the data, obtain explicit consent from employees to store or process their data, and handle change audits and data purges in a manner that meets local laws.听 听

Corporate Malfeasance
After the 2008 global recession caused by unexamined banking processes, governments across the world have instituted financial transparency and reporting regulations designed to prevent financial instability.听

How Can HR Technology Help Manage Regulatory Compliance?听

HR technology can help streamline and optimize compliance by digitizing and automating compliance management, enabling monitoring of workforce qualifications, and offering learning solutions to bring workers up to speed. It also needs to provide embedded support that goes beyond mere translation and initial configuration. For an HR solution to be fully globalized, it needs to provide not only basic translation to local languages, but also the ability to display local currencies and local formatting for fields like name and address. In addition, it needs to provide ongoing updates for regulations, proactively pushing them forward so systems stay up-to-date.听

The 麻豆原创 SuccessFactors Difference

customers in over 100 countries are supported by more than 200 in-country product managers who analyze local legal requirements and prioritize software adaptations to support regulatory changes. More than 300 product developers are responsible for implementing statutory and legal changes into 麻豆原创 SuccessFactors solutions. These changes are automatically shared, working to simplify and streamline the compliance process.听

For a deeper dive into the power of 麻豆原创鈥檚 localized HCM software, read the full report, .听

Barbara Ocain is global executive advisor at 麻豆原创 SuccessFactors.

The new human capital disclosure rule is likely to provide investors with increased transparency into a company鈥檚 workforce and allow investors to better understand the value of a company鈥檚 human resources.听 I anticipate that companies will use this disclosure requirement as an opportunity to highlight to investors the ways in which they prioritize their human capital and culture.

The rules require听disclosure听of听human capital听objectives or measures used to manage the business if they are material to an understanding of the business. Companies need to consider whether to include a qualitative objective and/or a quantitative measure in each area of听human capital.

Interestingly, the SEC rule does not specify what these measures should be, so each organization can decide what they want to include. I expect companies to expand their human capital disclosures to include information such as employee retention, employee incentive rewards, health and safety policies, wellness programs, training and development procedures, and diversity and inclusion efforts, among others.

However, an organization will need to pull metrics to discuss and support these items. And 麻豆原创 SuccessFactors software has the content and report templates to help you do that.

With a longstanding history of working with publicly traded companies, 麻豆原创 SuccessFactors has developed a template to furnish needed data for the SEC reports. The human capital disclosure reporting template will take much of the burden from a company as it includes the vast majority of human resources (HR) categories and metrics that investors will be seeking as they study an organization. It will not surprise anyone if other non-public companies follow suit in the future and this becomes the standard template publicly traded companies use under the new SEC regulation.

for the webinar, Using the SEC Human Capital Disclosure Requirement to Increase the Value of Human Resources, being held Wednesday, May 19, 2021, from 12:00鈥�1:00 p.m. ET. A panel will discuss the implementation and impact of this new regulation, as well as how these data requirements can be used to increase the strategic role of HR in your business.

Learn more about the reporting and analytics offerings at .

Barbara Ocain is a global executive advisor with 麻豆原创 SuccessFactors.

As employers prepare their organizations for the new wave of alterations to the workplace, they are also aware of the varying accommodations that must be made depending on the country or region in which they operate. Workforce adaptation is a must, but simultaneous compliance is critical. No one employment rule, practice, or regulation is constant around the globe.

To complicate matters, recent weeks have seen an explosion in new rules designed to help businesses stay operational, keep employees paid and supported, and ensure the health, safety, and well-being of the workforce. For 麻豆原创, it is a top priority to maintain the employment-related continuity needed to support and service its customers.

Globalization and Localization Services from 麻豆原创

Businesses worldwide have turned to 麻豆原创 SuccessFactors solutions to help them quickly comply with these new rules and regulations by updating their software to the needs of any particular population in the world.

麻豆原创 SuccessFactors solutions have a robust localization strategy that is designed for such unexpected emergencies. Software pertaining to the management of payroll, streamlining of human resource (HR) services, management of visa and permits, and document control are all covered by 麻豆原创 SuccessFactors solutions. Working closely with customers and partners, the 麻豆原创 Globalization Services team is providing solutions for an astounding array of changes, quickly and effectively.

Saudi Arabia

In light of the efforts made by the Government of Saudi Arabia Kingdom to confront COVID-19, the government announced a series of new, immediate legal measures in many areas of HR. 鈥淭he Saudi Arabia Localization team spared no effort and responded quickly,鈥� Hany Zanaty, senior product manager at 麻豆原创 Saudi Arabia, said.

A multitude of solutions helped听麻豆原创 ERP Human Capital Management听and听麻豆原创 SuccessFactors听customers adapt to the COVID-19 emergency in areas such as:

• Time management: Three new leave types 鈥� compulsory sick leave,听exceptional official leave, and non-productive hours 鈥� were introduced.

• Visa management: Due to the pandemic, travel was banned in Saudi Arabia and expat employees were not able to return to their home country. The simplification of this return-to-work process by the localization team now helps ensure business continuity and compliance with rapidly increasing local safety and privacy regulations.
• Unemployment insurance: As a matter of local, best market practices, the localization team also recommended applying the 鈥榳age type鈥� deduction with the appropriate percentage and deduction limit, rather than reducing basic salary directly.

Czech Republic

The Czech Republic Localization team has accommodated new laws that granted an additional care allowance period to employees who must personally take care of their children听during COVID-19. Additionally, an allowance is given for children younger than 13 years of age. The legal change is retroactive and is also being applied for the COVID-19 emergency period before the effective date of the new law. Additionally, from the point of view of the pension insurance calculation, such period must be taken as excluded time.

Malaysia

To cushion the impact of COVID-19 on employees, Malaysia introduced an economic stimulus package. In addition to structuring to allow the minimum employee contribution to the employees provident fund to be reduced by four percent, the localization team introduced multiple HR support packages and instructional guides to assist employers in the legal changes.

Belgium

Belgium saw significant changes in local social security codes and valuations. The country鈥檚 employment and social insurance system requires quarterly reporting to the Belgian authorities through a new service code for the declaration of forced absence. For the localization team, this meant developing a new service code and absence valuation, all to be added into the payroll system.

Sweden

Numerous legislative measures have been taken in Sweden to lift costs or postpone payments to relieve employers struggling with the problems arising from the spread of COVID-19. All have major, complex implications for the localization team to adjust 麻豆原创 SuccessFactors solutions for:paid sick time, short-term or part-time work, short-term furlough, delayed payments of deducted tax and employers contribution, and temporarily lowered employer contribution.

Japan听

The Localization team in Japan has made system accommodations for employees who have been absent from work due to COVID-19 and whose remuneration has fallen markedly due to this absence. In , these employees can have their standard monthly remuneration for health insurance and employees’ pension insurance revised from the following month by way of a special exception.

Ireland

The Minister and Revenue authorities in Ireland enacted a COVID-19 temporary wage subsidy scheme and provided new values when making subsidy payments to employees. As employers load this data into 麻豆原创 SuccessFactors Employee Central Payroll to make accurate payments within the maximum limits provided by Revenue, the localization team introduced three new fields to the payroll submission.

Additionally, adjustments and additions will provide not only a database to hold the data provided by Revenue authorities but also a report with two stages as well as validation and information messages to assist the customers in comparing the data to their existing data.

Brazil

The employer compliance environment in Brazil is complex and evolving, with an almost constant flow of legislative changes revising or editing prior laws, resulting in a particularly fragmented situation for the localization team to capture. As 麻豆原创 SuccessFactors always strives for stability of legal changes before securing them into the database, the fluidity and permissive nature of COVID-19 HR laws have been particularly challenging to present as a true solution.

In a series of provisional measures, Brazil has provided that 鈥淭o deal with the economic effects, which results from the state of public calamity, and to preserve employment and income,鈥� employers may reduce the salary of employees up to 70 percent and suspend contracts up to 60 days. The Brazilian government will pay the value of this percentage, based on the amount of unemployment insurance.

The Brazilian Localization team has supported this legislation in multiple ways, not only by localizing the needed fields to accomplish governmental measures but also by providing guidance and rich consulting notes to employers with high-level details of the measures and a sample consulting code, which each company can use to create a program to automatically generate the .CSV file to be submitted to the government.

Committed to the Customer

The resourcefulness and dedication of the many localization teams, local product managers, and 麻豆原创 Globalization Services has come to the forefront across the globe as 麻豆原创 finds itself uniquely positioned to provide localized compliance solutions under stressed and urgent conditions.

The legal changes have come 鈥� and will continue to be enacted 鈥� at dizzying speeds and enormous diversity, requiring knowledge, analysis, technology, and collaboration with 麻豆原创 SuccessFactors professionals, local governmental authorities, customers, and partners. 麻豆原创 SuccessFactors solutions are built for this kind of rapid, thorough, in-country response, understanding that compliance remains critical in the face of supporting the continuity of the businesses and the health and safety of employees world-wide.

.

Barbara Ocain is global executive advisor for HR Technology Advisory at 麻豆原创.