HR Auditing: Important Issues for 2018
OVERVIEW
There are numerous external and internal
forces and factors that have an impact on organizations. Increasingly
this list includes the strategic, tactical, and legal activities of managing
their human capital. Like the management of their financial capital, effective
management of organizations’ human capital plays a critical role in determining
their success. And like the benefits of financial audits, HR audits provide
management with a method of determining whether human capital is effectively
used, where human capital is incorrectly – or unlawfully — used, and how to
improve human capital return on investment.
HR audits are designed to help organizationsfocus their attention on their human resource management practices, policies,
procedures, processes, and outcomes by providing them with a structured and
systematic series of questions about key compliance, risk management, internal
auditing, and human resource management issues. As an auditing process,
HR audits are designed to help organizations identify potential and actual
problem areas, help assess the effectiveness of HR management activities, help
assess weaknesses in HR internal control processes, and help assess human
capital strategic and compliance related risks. HR audits then typically
provide suggestions for corrective action.
Importantly, HR audits consider human capital
related risks and opportunities from an enterprise risk management (ERM)
perspective. That is, HR audits take a holistic approach in assessing
human capital risks and attempts to indicate the interrelationships and
interactions between HR and other management and organizational issues.
Recognizing that no two employers are alike
and that the practices, policies, and processes that may be appropriate and
effective for multinational corporations may not be appropriate for small and
medium size companies or non-profits, HR audits are typically designed to help
organizations develop and tailor their employment practices, policies,
procedures, and processes to meet their specific needs. Thus, HR audits
typically provide organizations with the “right” questions to ask about various
employment practices issues; then help them determine the optimal
answer.
While an HR audit alone will not guarantee
that an organization’s workplace will be selected as a “best place to work” or
be free from all legal challenges, it will serve as an important guide through
the maze of human resource management best practices and employment and labor
laws and regulations. As a result, an HR audit will further enhance the value
of your organization’s human capital, enhance your organization’s
competitiveness, and reduce your organization’s exposure to employment
practices liabilities.
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| HR Auditing |
WHY
SHOULD YOU ATTEND
In the global economy, human capital has
become for many organizations the single most important determinant of
competitiveness, productivity, sustainability, and profitability.
Increasingly, an organization’s human capital is the source of innovation and a
driver of business success.
Additionally, there is a confluence of
economic, political, and social factors that have resulted in increased
statutory and regulatory requirements, a call for greater transparency, and
increased internal and external audit activity.
Finally, governmental agencies have become
more active—some would argue more aggressive—and have committed more resources
to conducting assessments of employment policies and practices.
Importantly, the EEOC, the OFCCP, U.S. DOL, and ICE have advised employers that
they consider self-assessments and audit a “best practice.”
How effectively is your organization managing
its human capital? Is your human capital helping you achieve
organizational objectives? Are your employment practices creating material
risks and liabilities? This session discusses the development and use of HR
Audits in answering these questions and in addressing critical risk management
and due diligence issues.
AREAS
COVERED
The threats and risks from human resource managementissues are increasing. No longer measured in only fines, penalties, and awards
for non-compliance, human resource management affects keys business metrics,
including the organization’s valuation and credit rating. Further, improper
human resource management can significantly reduce managerial prerogatives, and
seriously damage the organization’s reputation and employment brand. Thus, HR
audits have become a critical tool in identifying problem areas and are
evolving from an ad hoc audit activity to a critical element of an
organization’s risk management and compliance processes.
In this environment, HR audits have become an
independent, objective, and systematic evaluation that provide assurances
that:
1) the organization is in compliance with employment
laws and regulations and that governance requirements are being met;
2) the organization’s business and talent
management objectives are being achieved;
3) the organization’s human resource
management risks are fully identified, assessed, and managed; and
4) the organization’s human capital adds
value. Under this definition, HR audits are more than an audit activity that
solely collects and presents evidence of compliance. HR audits are increasingly
expected to look behind and beyond the organization’s assertions of sound and
proper HR management practices and to assess the assumptions being made, to
benchmark the organization’s processes and practices, and to provide the
necessary consultative services that help the organization achieve its business
goals and objectives.
As a result, there has been a significant
change in the HR auditing process, the value derived from HR auditing, and the
HR audit tools used.HR audits have evolved from a simple checklist of do’s and
don’ts or periodic affirmative action plans to a comprehensive, sustainable
process that:
1) is an integral part of the organization’s
internal controls, due diligence, and risk management;
2) is a fundamental activity of strategic
management; and
3) uses sophisticated auditing products and
consulting services.
These changes and the growing importance of
human capital now require ongoing and continuous HR auditing activities.
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| Human Resource Audit Process |
WHO
WILL BENEFIT
- HR Heads, HR Manager, HR
Professionals
- Planning and Audit Managers
- Internal/External Auditors
- Risk Managers
- Compliance Officers
- Line Managers
- CFOs/COOs/CEOs
- HR professionals
- CFOs, CROs, CCOs
- Internal auditors/external
auditors
- Operations managers
- Senior HR managers
- CFOs
- Internal Auditors
- External Auditors
- Consultants
- Venture capitalists
- Merger and Acquisition specialists
- Vice Presidents
- Directors
- HR Managers
- HR Administrators
- Employment and Employee Relations
Managers
- Recruiters
- Supervisors
- Auditors
- Financial Managers and Analysts
LEARNING OBJECTIVES
This session discusses the development and use
of HR Audits in addressing such critical risk management issues as:
- How effective is your
organization’s human resource management?
- Is your human capital helping you
achieve organizational objectives?
- Are your employment practices
creating material risks and liabilities?
- What are the key organizational
issues that should be audited?
- What HR audit tool should be used
For more detail please click on this below link:
Email: support@trainingdoyens.com
Toll Free: +1-888-300-8494
Tel: +1-720-996-1616
Fax: +1-888-909-1882
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