What does "HR Compliance" reporting in Workday help organizations track?

HR Compliance reporting in Workday is essential for organizations as it enables them to monitor and ensure adherence to employment laws and internal policies. This reporting functionality helps businesses stay compliant by tracking key aspects such as hiring practices, wage laws, labor regulations, and workplace safety standards, thus minimizing the risk of legal issues and ensuring that the organization operates within the legal frameworks set forth by governmental agencies.

Furthermore, compliance reporting can include analysis of data related to equal employment opportunities, proper documentation of employee records, and adherence to any relevant industry-specific regulations. By focusing on ensuring compliance, organizations can foster a fair and equitable workplace while also shield themselves from potential penalties and litigation costs.

Although performance reviews, employee training, and financial reporting are vital components of an organization’s functioning, they do not directly relate to the specific objective of tracking legal compliance, which is the primary focus of HR Compliance reporting.