Press release

SyncStream Addresses EEOC Pay Data Requirements with EEO-1 Comply

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Sponsored by Businesswire

SyncStream
Solutions
has released an enhanced version of EEO-1
Comply
, the first intelligent solution for EEO-1 reporting, to help
employers navigate and comply with the Equal Employment Opportunity
Commission’s (EEOC) expanded EEO-1 requirements. For the first time, the
EEOC requires employers report
W-2 wage data and hours worked
(“Component 2”), in addition to the
already required job category, ethnicity, and gender data (now referred
to as “Component 1”), which was due May 31, 2019. Not only that, the
Component 2 data is required for both the 2017 and 2018 calendar years
with a deadline of Sept. 30, 2019.

Pulling from experience in creating solutions for complex regulations
such as the Affordable Care Act (ACA), SyncStream developed EEO-1 Comply
to aggregate, organize, and translate data from employers, employees,
and payroll into reportable EEO-1 information. To address Component 2
data needs and analysis, SyncStream added two new features: “Manage
Employee Hours” and “Workforce Analytics.” With Manage Employee Hours,
employers can quickly and easily credit hours of service to part-time
and full-time exempt employees to determine their total hours worked.
Workforce Analytics takes average employee pay and hour data and breaks
it down by gender and ethnicity to identify any disparities that might
lead to claims and fines from the EEOC.

“Attempted by hand, EEO-1 reporting is tedious, time consuming, and
confusing, due to the nature and process of collecting data from so many
different sources,” said Arthur Tacchino, Chief Innovation Officer at
SyncStream. “Employers will need to act quickly to ensure they can
accurately and efficiently report under these new requirements by the
EEOC’s fast-approaching deadline.”

The newly implemented EEO-1 requirements are meant to discover and track
potential wage gaps and hour disparities based on gender and race. With
some exceptions, private employers with 100 or more employees and
federal contractors with 50 or more employees will now have to submit
Component 2 data, as well as Component 1 demographic data.

“When the expanded EEO-1 report was first proposed in 2017, SyncStream
wasted no time learning about the pay data requirements and how it would
impact employers who already have a multitude of compliance
obligations,” said Tacchino. “To that end, we developed the first
solution designed to specifically address the complicated new
requirements and, ultimately, take the headache out of EEO-1 reporting
for brokers, employers, HR professionals, and other trusted advisors.
EEO-1 Comply is a user-friendly, time-saving solution that provides
auditable records to demonstrate compliance.”

In a notice
from the EEOC, the agency indicates that it expects to begin collecting
2017 and 2018 pay data from employers in mid-July. The agency will
notify employers of the precise date the survey will open as soon as it
becomes available.

For more information on the new EEOC regulation and EEO-1 Comply, visit www.sync-stream.com/solutions/eeoc.

About SyncStream Solutions

SyncStream builds intelligent, intuitive solutions that help employers
and their trusted advisors comply with the most complex regulations,
from the ACA to EEO-1. SyncStream’s compliance solutions marry existing
employer payroll and HR data with proprietary analytics to accurately
fulfill legislative requirements and provide the assurance of
auditability.

A woman-owned business, SyncStream is the result of some 100 combined
years of employee benefits, health care, legal, regulatory, education,
and technology experience, and has successfully fulfilled over 2.75
million employee forms and served more than 10,000 customers with well
over 90 percent accuracy. Visit www.sync-stream.com for
more information.