How a PEO Protects Government Contractors from Regulatory Compliance Risks

Quick look: Government contractors can’t afford to take regulatory compliance for granted. In this blog, learn what ExtensisHR does to help government contractors keep their sensitive business and client information secure.

Regulatory compliance is a top-ranking concern in the government industry. For government contractors, it’s wise to support business tactics that prevent or address compliance risks like disruptive data breaches affecting their clients. However, contractors should also verify that their HR strategies keep their employees secure, too. Fortunately, ExtensisHR is one step ahead. Discover how our compliance-first approach to HR solutions helps protect our government contracting customers from regulatory risks.

High-standard compliance certifications

Compliance standards change as corporations continue to evolve their internal and external processes. At ExtensisHR, we dedicate ourselves to staying up-to-date on regulatory compliance requirements connected to our business operations and solutions. This goal is why we work to meet the certification standards of compliance-driven organizations. For instance, ExtensisHR has been an official Certified Professional Employer Organization (CPEO) since 2017. This prestigious designation is only awarded by the IRS to PEOs whose business practices align with the U.S. government’s highest regulatory standards and financial assurance program.

Additionally, ExtensisHR is in the 1% of PEOs who have all three of the following accreditations.

• Employer Services Assurance Corporation (ESAC): The ESAC stamp of approval ensures our operations successfully protect wage payments, payroll taxes, employee benefits, and insurance premiums
• SOC 1 Type II certification: Third-party vendors earning this certification have been confirmed to follow the appropriate SOC safeguards and procedures
• Certification Institute: Since 2008, ExtensisHR has been recognized by the Certification Institute for meeting the industry’s standards for risk management best practices, creating safe work environments, and effectively managing workers’ compensation losses

These achievements not only empower our solutions, but help government contractors meet the expectations of their industry’s strict regulations. Our payroll services utilize accounting practices that are DCAA-compliant, protecting our customers from high-scale risks such as facing penalties for inadequate or missed payments. When using our recruiting services, government contractors are able to navigate the nuances of the hiring landscape while complying with the guidelines set by the U.S. Equal Employment Opportunity Commission (EEOC) and the Office of Federal Contract and Compliance Programs (OFCCP). ExtensisHR experts also make sure EEO and VETS reporting is properly filed for taxation purposes.

Technology featuring multi-factor authentication

Where employee data is stored matters. Human resources management (HRM) technology can help streamline HR tactics, but risks can arise if this tech lacks protective protocols. Since 81% of security threats are caused by weak passwords, separating modern-day hackers from a profile’s sensitive information requires more digital barriers to match regulatory compliance standards.

ExtensisHR blends compliance and efficiency to execute our Work Anywhere® platform. This mobile-first tech enables our customers to manage different HR tasks such as paychecks, benefits, and recruiting anywhere at any time. To secure the individual activities and personal information recorded within a user’s profile, we offer multi-factor authentication to provide protection beyond a simple password. One such authenticator is the receipt of confirmation codes via texts and email. Using biometric information is another available authenticator, which involves using fingerprint and facial recognition data in an FTC-approved manner to gain account access. These precautionary identifiers help ensure each login is genuine and not a breach attempt.

Insightful data risk solutions and compliance training

Government contractors know first-hand how staying compliant positively affects their business operations. For example, regulatory monitoring can save organizations an average of $1.03 million. Even with this awareness, navigating through the labyrinth of enforced laws and regulations can be a less than exciting task. With data compliance, business leaders can be frustrated with decoding and keeping track of every intricate requirement change that occurs on a regular or spontaneous basis.

ExtensisHR’s certified experts take on the burden of risk mitigation through our Employer Protection Program (EPP). To reduce the risk of employment claims, we develop workplace best practices for employment-related issues. One such practice is the Information Protection Plan, which is a documented policy outlining how sensitive data should be processed, saved, and shared within an organization. By defining these guidelines, company executives can better educate themselves on regulatory compliance expectations while ensuring employees have a thorough risk prevention policy.

Our experts can also advise government contractors on educational training on vital industry regulations. Through Knowledge Cloud, our learning library featured in our Work Anywhere® platform, we help provide valued and immersive training courses on both mandated and additional topics such as workplace safety, harassment, and management development. ExtensisHR works with our customers to select and access the in-depth training experiences related to the regulatory compliance concerns that best suit their workers’ educational needs.

Transparent and proactive customer support

Active vigilance spares businesses from regulatory compliance risks. Since government contractors’ exhaustive schedules often dictate their time management, leaders often lack the time needed to fully focus on checking regulation updates and catching unintentional malpractices. This circumstance is why contractors consider third-party vendors to handle their regulatory compliance needs. Still, one study states 58% of organizations say their top challenge with third-party risk management is vendor responsiveness in the due diligence phase.

At ExtensisHR, we understand the value of transparency between our team and customers. That’s why we assign a designated dedicated HR Manager to organize and oversee account needs. In addition to monitoring the progress of our customers’ HR goals, HR Managers work with certified specialists to confirm the security of HR operational procedures. From analyzing the safety of integrated AI systems to offering guidance during tax season, HR Managers stay attentive to potential industry risks that could limit overall success.

Additionally, we believe proactivity is important when a question or issue arises. Instead of playing the “please hold” game with an automated call center, our customers can expect an 11-second response time when contacting our customer support team. In other words, we match our partner’s sense of urgency to investigate a concern at hand and promptly neutralize the problem in the best manner possible.

Mitigate risks with ExtensisHR

As a government contractor, being precautious of regulatory compliance takes priority.  Partnering with ExtensisHR means getting the professional human resources solutions your business needs without relaxing core compliance standards. Our company’s commitment to compliance applies to each service we offer, including but not limited to:

• Providing full-scale recruiting at no additional cost
• Managing payroll and tax administrative duties
• Offering enterprise-level employee benefits packages
• Streamlining the compliance training process for management, new hires, and other staff
• Using human resources support experts to identify realistic HR goals

Don’t miss out on a better HR strategy! Contact us today to learn more about our compliance-driven solutions.