We have all heard the phrase “growing pains” when it comes to business expansion. This can pertain to the need to raise more working capital, add more office space, or acquire additional employees. However, there is another area that is easily overlooked when it comes to expansion planning and that is human resource compliance.
In the world of human resource compliance “50” is a magic number. Many federal, state and local employment laws hinge on businesses having 50 or more employees. At the federal level, a number of major statutes have provisions regarding size including, the Affordable Care Act (ACA); Family Medical Leave Act (FMLA); Affirmative Action Plan; EEO-1 reporting; and Form 5500 compliance.