Can A Masters In Finance Help Risk Management Career Path The Employment-Labor Law Audit (ELLA)

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The Employment-Labor Law Audit (ELLA)

The Employment Law Audit™ (ELLA®) is designed to help your organization focus its attention on its human resource management practices, policies, procedures, processes and outcomes by providing you with a structured and systematic series of key compliance questions , risk management issues, internal audit and human resource management. As an HR audit process, ELLA® is designed to help your organization identify potential and actual problem areas, help assess the effectiveness of HR management activities, help assess weaknesses in HR internal control processes, and help to evaluate the strategic risks and related to the compliance of the human capital. ELLA® also offers suggestions for corrective actions.

Importantly, ELLA® considers risks and opportunities related to human capital from an enterprise risk management (ERM) perspective. That is, ELLA® takes a holistic approach to assessing human capital risks and attempts to indicate the interrelationships and interactions between HR and other management and organizational issues.

Recognizing that no two employers are the same and that practices, policies and processes that may be appropriate and effective for multinational corporations may not be appropriate for small and medium-sized businesses or non-profit organizations, ELLA® is designed to help your organization to develop and adapt employment practices, policies, procedures and processes to meet your specific needs. ELLA® first provides your organization with the “right” questions to ask about various employment practice issues; then help you determine the optimal response for your organization.

To help your organization manage its human resources, ELLA® is divided into a series of Profiles. These Profiles consider the main areas of human resource management and risk management of the responsibility of labor practices. Within each Profile you will find three sections: The Introduction, the Questionnaire and the Analysis. In many Profiles, you will also find a list of References.

1) The introduction provides an overview of the area being examined. Its purpose is to provide you with basic information about why this particular issue is important.

2) The Questionnaire, the most important section of ELLA®, examines your activities and results of human resource management and employment practices. It is designed to give you the right questions to ask about each work practice area. Ask questions about how your organization approaches and reacts to critical issues. Using the Questionnaire, your organization will collect data and information that will help you: 1) determine the current and future applicability of various employment laws and HR management best practices; 2) diagnose weaknesses; 3) analyze the results of employment practices; and 4) prioritize corrective measures.

3) Analysis helps you understand the organizational, financial, and legal consequences of your organization’s activities, policies, and processes, and helps you determine how these consequences affect your organization’s well-being and ability to achieve organizational goals. The Analysis provides insights and insights on how to improve employee relations and reduce risks related to your organization’s human capital.

4) The reference list section provides links to additional data, information, and resources. This section will help you learn more about a specific problem and help you tailor your analysis to meet the specific needs of your organization. In addition, this section provides the email addresses of ELLA® subject matter experts. These experts can help you conduct your audit, evaluate your audit results, and develop corrective actions.

ELLA covers critical areas of employment practices including;

Strategic and organizational, recruitment, selection and hiring, the application process, reference checks and response, immigration issues, the Americans with Disabilities Act, employee handbooks, positive employee relations, diversity management, workplace discrimination , affirmative action and sexual harassment in the workplace.

Additional Areas Covered: Drug-Free Workplace, Work Performance Management, Retention Issues, Dispute Resolution, Termination Process, Downsizing, Layoffs and Plant Closures, Unemployment Insurance Management, Employee Benefit Plan Compliance , Absences and FMLA, COBRA and HIPAA, Wage and Hours, Workplace Safety Management, Records, Notices and Information Management, Governance and Ethics and Benchmarking.

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