What Every Employer Must Know to Avoid Costly Lawsuits

 

Protecting your company from legislative compliance risks is a high priority for any CEO or CFO. Ignorance and violation of workplace regulations cost U.S. organizations millions of dollars each year. With the trend of an increasingly litigious society, legislative compliance poses a greater risk than ever. More and more often, state and federal courts rule in favor of employees who feel wronged, and court rulings and settlements can cost your business hundreds
of thousands of dollars.

Consider these facts:

• The U.S. Equal Employment Opportunity Commission (EEOC) received almost 83,000 private sector discrimination charges in 2007—the largest year-over-year increase
(9%) since 1993.

• In 2007, the EEOC recovered $345 million for victims of employment discrimination—up 26% from the previous year.

• Three out of five companies are sued by former employees every year—and more than 450 companies are hit with employment lawsuits every day.

• 50% of all companies defending employment lawsuits spent more than $50,000, and 33% spent more than $100,000, in litigation costs. The average jury award in an employment lawsuit exceeds $250,000, and 15% of all verdicts exceed $1 million.

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