Neil &  Company CPAs, PC

A Professional Corporation

1184 North 15th Street, Bozeman, MT 59715

 

Phone: 406-587-9239

 

June 2019

A Different Type of Audit

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Auditing your human resources, whether you have a department devoted to it or not, can help protect you, your employees and your business while identifying solutions that can make your company stronger.


ASK THE RIGHT QUESTIONS
An effective human resources audit begins with a thorough look at your company’s personnel policies, written procedures and established steps employees can take when they have a work-related issue.


Do you have comprehensive procedures that employees fully understand to prevent potential harassment and discrimination claims? Are performance reviews conducted according to a process understood by both supervisors and employees? Are complaints documented and investigated? Are your employees properly classified? For example, the federal government has gone back and forth about who qualifies for overtime pay, so whether employees are exempt or non-exempt matters.


Also analyze how your company deals with freelance workers and prospects applying for open positions. Does your company comply with tax, legal and professional requirements governing both hiring and freelancers? Do you have both the procedures and contracts in place to help ensure everyone understands their exact working arrangements?


A COMPETITIVE TOOL
Once you develop a comprehensive audit questionnaire and receive your results, you may want to compare your findings with those of your competitors. Who are your biggest or closest competitors? Which peer company follows best practices and how does that compare to your policies and procedures?


Answering these and other questions and applying the right solutions can help your company rise to the next level. Your audit may identify insurance solutions that boost your company’s financial protection in many areas, and it might discover employee benefits that can improve your firm’s ability to attract and retain hard-to-find workers.


If you don’t have the personnel resources to conduct this type of audit, consider looking into tax, legal and consulting professionals who can help.


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