Regulations at the local, state, and federal levels cover a vast span of industries, sectors, materials, and situations. Some regulations, such as Child Labor Laws, Minimum Wage, Pollution, and Food Safety, may feel familiar.
Regulations in Business
Yet, regulations in business are far-reaching and sometimes obscure, such as minimum standards of testing for specific industries, operating licenses and fees, business hours of operations, and even cleaning your store’s entryway. Human Resources teams manage compliance with dozens of regulations daily, ranging from legal break times to payroll practices, employee rights, and more.
Some companies are in industries so regulated that they have a Compliance Officer or an entire Compliance department. This level of compliance oversight is common in financial organizations, investment banks, healthcare companies, and energy and telecommunications sectors.
In building and operating your business, it is critical to be aware of the regulations that impact your business and have a precise method for ensuring constant compliance. If your company operates in different markets or countries, know that each area can have unique regulations that are your responsibility to learn and enforce compliance.