The average US firm spends between 1.3 and 3.3 percent of its total wage bill on regulatory compliance, estimate Francesco Trebbi and Miao Ben Zhang in The Cost of Regulatory Compliance in the United States (NBER Working Paper 30691). This wage bill grew at an annual rate of about 1 percent a year from 2002 to 2014, roughly half of the average annual GDP growth rate over the period. In 2014, the total wage bill devoted to regulatory compliance workers ranged from a conservative estimate...| NBER
Despite the costs of compliance rising, research indicates that it is at minimum 2.7 times more expensive to not comply with requirements. So what are some of the ways to lower the cost of compliance?| www.coforge.com
I've been writing on this site for a long time. In that time, I've written over a dozen times on the accessibility business case. Time and again, the message I've hoped to convey is that issue prevention is the best way to save money. Once lawyers become involved, all roads lead to one destination -| Karl Groves