PORTLAND, Ore., Aug. 4, 2021 /PRNewswire/ -- Today, Mineral, the HR and compliance leader for small to medium-sized businesses (SMBs), announced the launch of Mineral Intelligence, the industry's first-of-its-kind, real-time, proactive HR and compliance engine designed to help businesses stay ahead of the curve. Built for Mineral's growing network of 500,000+ clients, Mineral Intelligence leverages company data with the most up-to-date guidance on local, state and federal employment laws curated by Mineral Experts to proactively recommend actions clients should take to stay compliant.
According to the 2021 State of HR Report, complying with laws was a significant struggle for employers in 2020. In fact, when asked which HR and compliance issues were most challenging, staying on top of changes in federal (63%), state (59%) and local laws (34%) were the top three answers.
"Mineral Intelligence lets businesses know about important HR and compliance issues well before they become problems," said Diane Haines, Chief Marketing and Product Officer at Mineral. "As laws change and become more complex, and businesses expand, companies are faced with trying to understand, navigate and play catch up on their own. Mineral Intelligence does this work for them by monitoring federal and state legislation changes around the clock, alerting businesses when and how to take action to stay compliant."
For employers, missing a regulatory update or compliance action can be costly. Employee lawsuits cost companies up to $250,000, and often employer non-compliance is inadvertent. For example, an employer that recently hired their 50th employee might not know that they're subject to the Family and Medical Leave Act (FMLA) until an employee files a lawsuit or complaint. Mineral Intelligence monitors a business's unique internal changes as well as changes in its external environment to make sure the business is aware of its evolving responsibilities, can plan ahead and avoid the costs and distraction of non-compliance.
Specific features of Mineral Intelligence include:
- Continuous monitoring of HR and compliance legislation: Mineral Experts ensure users are aware of the latest regulatory and best practice changes that impact their business.
- Proactive, actionable notifications: When changes in the regulatory environment or in a business require action, users are notified to help them understand the impacts to their business and what they need to do to stay compliant.
- Organized to-dos: Users can keep track of their recommended action items in one, easy-to -access place all connected with the tools, documents and resources to help them navigate the complexities of HR and compliance.
Mineral Intelligence will be available as a part of the new Mineral Platform, which combines data, technology, and the company's exclusive team of Mineral Experts who provide personalized guidance and insights to businesses. Through thousands of partnerships with some of the biggest service providers in the industry, including Intuit, Mineral powers the HR function for SMBs nationwide, bringing together the largest SMB HR community in the U.S. As Mineral's network grows, Mineral Intelligence becomes more powerful in its ability to recognize employer patterns and make future predictions.
"As a provider of payroll and HCM software solutions to 1.4 million small businesses, we see firsthand the headaches employers face trying to keep up with compliance," said Olivier Bartholot, Director of Product Management, Quickbooks Online Payroll at Intuit. "Small business owners often don't know where to start when it comes to HR management and worry about what may be slipping through the cracks. With QuickBooks Payroll and Mineral, small business owners will now receive proactive notifications about compliance requirements, bringing peace of mind knowing that they are not only staying on top of deadlines and changes, but more importantly, ahead of them."
"In today's climate, HR and compliance are more complex than ever, leaving business leaders in a constant reactive state. While larger enterprise companies can turn to technology solutions, hire outside experts, and add specialized headcount to help them manage the load, SMBs don't have the resources to do so on a proactive basis," said Nathan Christensen, CEO of Mineral. "With the Mineral Platform, and the addition of Mineral Intelligence, we're not only able to guide businesses through their toughest compliance challenges but also help them stay ahead of what's coming down the pike. In this way, employers can stop worrying about changing employment laws and focus on what matters most: their business."
Mineral Intelligence will be generally available as a part of the Mineral Platform August 2021. For more information, visit trustmineral.com/products/.
Trusted by more than 500,000 companies, Mineral is the HR and compliance leader for growing businesses. Mineral's flagship solutions, including Mineral Platform, Mineral Intelligence and Mineral Experts, combine data, technology, and human expertise to take the guesswork out of HR and compliance and give clients peace of mind. Partnering with nearly 3,000 industry-leading insurance brokers, PEOs and HCMs, Mineral has built the largest HR community in the U.S. Mineral was formerly known as the combined entity of ThinkHR and Mammoth. For more information, visit trustmineral.com.