Time & Attendance
By Staff Report
Oct. 29, 2014
First, congratulations on your recent IPO. Transitioning to a publicly traded company brings new topics to the human resources table, from developing a new value proposition for employees to considering new legal and accounting issues in administration and decision-making.
Here are some important issues and actions HR should consider:
The most far-reaching regulation a new public company faces is the Sarbanes-Oxley Act of 2002, passed to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise, as well as to improve the accuracy of corporate disclosures. The U.S. Securities and Exchange Commission administers it, setting deadlines for complianceand publishing rules on requirements. HR should:
Work closely with the compensation committee and other internal functions to collect, share, and document pay and benefits at the executive level and equity programs that are offered to other employees.
Executive compensation decisions are vastly more visible, scrutinized and subjected to greater regulatory oversight.
There are other issues that may be seen as “soft,” but are no less important to ensuring success as a public company. These may include:
This is by no means an exhaustive list of post-IPO concerns. We suggest utilizing counsel to ensure all of the regulatory and business issues are adequately covered.
SOURCE: Kathi Myers, senior consultant, Linda Ulrich and Alan Nadel, principals, Buck Consultants at Xerox, Sept. 27, 2014.
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