As a conscientious employer, you may be are concerned about compliance amid changing payroll and employee related rules. We would like to offer some assurance by letting you know how Sage HR and Payroll solutions can make for an easier process.
Proposed Revision of EEO-1 Report
One potential human resources-related regulation change is the proposed revision of EEO-1, filed by the U.S. Equal Employment Opportunity Commission (EEOC) on July 14, 2016 with additional comments accepted until August 15. It requires employers with 100 or more employees who already file the EEO-1 report to also provide aggregate W-2 income by sex, race, ethnicity, and job group.
According to the EEOC, “It has two components. Component 1 describes the data now collected by the currently approved EEO-1, which is data about employees’ ethnicity, race, and sex by job category (demographic data). Component 2 describes the W-2 (Box 1) and hours-worked data that will be added to the EEO-1 with OMB’s approval under this PRA request (pay data). EEO-1 respondents must comply with the 2016 filing requirement for the currently approved EEO-1.”
The EEOC collects this data to track pay by demographic information to support efforts that encourage equal pay and opportunities. The proposed revisions “strengthen enforcement efforts of pay equality laws and help employers evaluate their own practices.” The intent is also to ensure minimal burden on employers while pay data collected is useful for the EEOC and Office of Federal Contract Compliance Programs (OFCCP) at the Department of Labor.
When would the EEOC begin collecting pay data from employers?
Employers would file the first new EEO-1 report, including pay data, by March 31, 2018. Note that there are no changes on the next EEO-1 report, due September 30, 2016.
How can Sage Payroll and HR solutions help?
Sage HR and Payroll solutions closely track your workforce data with accuracy and timeliness. They also allow you to access your workforce information at any time, in an easy-to-understand format. In addition, this software is designed to assist you in meeting the most current reporting requirements, as it features continuous updates to reflect any changes in regulations.
More information about Sage Payroll and HR solutions
View a free recording of the webinar, HR and Payroll – Making Better Strategic Choices, held August 17. In this presentation, we walk you through some of the Sage Payroll and HR modules so you can see how the software can help you make better workforce decisions. You will learn how to gain improved analytics on organizational changes, resource availability, employee training, performance, skills, and more.
Please contact MicroAccounting to talk with us about your human resources and payroll software needs.