Equifax Inc. : New TALX Compliance Solution for Onboarding Service Helps Employers Address Wage Theft Prevention Legislation
04/18/2012| 02:50pm US/Eastern
ST. LOUIS, April 18, 2012 /PRNewswire/ -- TALX, provider of Equifax Workforce Solutions and a leader in human resource, payroll and tax-related services, announced today that it now offers employers an automated and effective approach to address Wage Theft Prevention Act requirements. Recently passed in New York and California, the legislation requires that employers provide and track Wage Theft Prevention notices to their employees, and adoption is expected among other states across the country. The new TALX solution offers employers an automated, accurate and paperless alternative to ensure compliance with varying state requirements.
(Logo: http://photos.prnewswire.com/prnh/20060224/CLF037LOGO )
Wage Theft Prevention Act legislation aims to prevent exploitation of employees, and requires that private-sector employers regularly provide workers with pay notices and proper wage statements which include rate of pay, the basis of the employee's rate of pay, whether the employer intends to claim allowances as part of the minimum wage, the employee's regular pay day and frequency, as well as full employer contact information.
Part of its comprehensive Onboarding and Compliance services, the TALX Wage Theft Prevention offering delivers a streamlined and effective approach to addressing these requirements. Securely leveraging company payroll data to automate notices, TALX gives employees access to the mandated information through a protected web-based portal. Employees sign their acknowledgements electronically, employers have real-time visibility to track the status of each notice, and signed notices are retained within the system for the time required.
Wage Theft Prevention Act legislation went into effect in April 2011 in New York state, where employers are required to provide notices to both new hires and all employees annually in English or the employee's native language, if the New York Department of Labor provides a template in that language. New York requires employers to keep notices - signed by the employee - on record for six years. Employers who do not comply can be fined $50 per employee per week.
Similar legislation has been enacted in California this year, with some key differences. For example, California also requires both the employee and the employer to sign the notice, and it must be retained for three years. Employers are encouraged to watch for updates as other states across the country are expected to follow suit. TALX helps employers address the varying regional requirements while streamlining the process and helping ensure compliance requirements are met to avoid fines.
"With the new legislation in place, many HR and Payroll departments are backlogged and doing their best to keep up with the labor-intensive processes associated with meeting Wage Theft Prevention Act requirements. It's an arduous process, and can get complex as employers determine which of six templates, in seven different languages, must be shared with each of their many employees," commented Angela Lockman, TALX vice president of Tax Management Services. "TALX now offers companies a more effective way of achieving compliance. With a secure and automated process in place, company resources can dedicate their time to more strategic work that positively impacts overall business goals."
"With this new solution, TALX is helping burdened companies develop strategies for the future and cost-effectively comply with important legislation as it gains greater adoption across the country," said TALX president, Dann Adams. "TALX is deeply committed to delivering accurate, secure and forward-thinking solutions to help our customers streamline HR, payroll and tax-related processes and ensure compliance."
Equifax (NYSE: EFX) is a global leader in consumer, commercial and workforce information solutions, that provides businesses of all sizes and consumers with insight and information they can trust. Equifax organizes and assimilates data on more than 500 million consumers and 81 million businesses worldwide, and uses advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers. Workforce Solutions (TALX) is an Equifax business unit. It is a leader in human resource, employment, tax management, and payroll-related services.
Headquartered in Atlanta, Equifax operates or has investments in 18 countries and is a member of Standard & Poor's (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. For more information, please visit www.talx.com or www.equifax.com.