Think about your answer as I provide you with some breaking news on “What You Should Know about EEOC and the Publication of the Notice of Information Collection Regarding the EEO-1.”
Let’s get the bad news out of the way first. If you have 100 employees, you still need to file your EEO-1 by the end of September. (Certain federal contractors with 50 employees will have to file too.) And that EEO-1 must include both the Component 1 data (i.e., the demographic employee data that filers have had to include since like forever) and the dreaded Component 2 data (i.e., lots of W-2 wage data and hours) for calendar years 2017 and 2018.
But here’s the good news, the EEOC is not renewing its request for authorization to collect Component 2.🎈🎉🎇🎁
Why? Well, it seems that the EEOC underestimated the overall financial burden of completing the EEO-1. How much so? Check out the EEOC’s press release:
Pursuant to the updated methodology employed in the Notice, the EEOC estimates that the burden associated with submitting Component 1 and 2 data for 2017 would be $614 million, and $622 million for 2018. By contrast, in 2016, the EEOC estimated that the burden to employers for filing Component 1 and 2 reports would be $53.5 million in each of 2017 and 2018.
I’ll pause for a bit to allow you to clean up some of the brain matter that your exploding head just blew onto your framed SHRM-CP certificate.
But don’t get too far ahead of your skis. If you think the EEO-1 may be going away for good after this year, well, it isn’t. That’s because “the EEOC believes the proven utility of Component 1 to EEOC’s mission justifies its continued collection….Component 1 EEO-1 data serves as a valuable resource for EEOC’s analysis of industries and regions as well as for investigators in assessing allegation of discrimination.”
So, is that glass half-full or half-empty?
Whatever your perspective, maybe pour it out, fill it with something stronger if you’re so inclined (just wait until you leave the office), and enjoy your weekend.