Compliance

What is meant by Compliance?

In a business, compliance means cohering to the rules, regulations, government laws, and standards. Simply, following a set of rules related to safety, health, standards, or data security is known as compliance. There are certain regulatory compliance requirements recognized by government bodies to run a compliant and responsible business. It is a company’s responsibility to stay compliant in order to maintain a reputation and to stay away from legal liabilities. Since it is essential for the existence of a business, compliance becomes a necessary action to run a company legally. 

In HR, Compliance is a legal commitment to run a business as per employment and working standards defined by the government. It is the process of forming policies and regulations to ensure that employment practice follows the necessary applicable laws. A company must follow employment laws, local and state regulations to stay compliant.

 

cookie image

By clicking “Accept", you consent to our website's use of cookies to give you the most relevant experience by remembering your preferences and repeat visits. You may visit “privacy policy” to know more about cookies we use.