‘These laws protect the employees in matters such as compensation, working conditions, and retirement benefits.
I agree with you that it is imperative for managers to have excellent knowledge of employment laws. Managers lower their business risk by complying with employment laws because a lack of compliance can lead to governmental fines, civil lawsuits, and a loss of brand value. If a corporation fails to comply with basic employment laws such as paying at or above minimum wage they can incur in damages beyond the potential fines. The customer can lose confidence in the corporate behavior of the company and switch to the competition. In the 21st century corporate social responsibility has become an important strategy to achieve business growth.
The utilization of hiring practices that foster diversity has positive benefits such as improving creativity and gaining insight into other cultures. If an employee violates employment laws a manager must discipline the person and possible terminate employment if the violates warrants such punishment. Knowledge is power, thus education the workforce on employment will improve the quality and value of the human capital of a corporation.
As you mentioned understanding employment laws is a two way process since both employer and employees are affected by them. Applying educational efforts in the corporate world to increase the knowledge of employees of employment laws is a sound investment. The overall business risk of an enterprise decreases as the employees become more knowledgeable of employment laws. Diminishing interpersonal conflict due to a lack of knowledge of employment increases the productivity of the workers. I liked your idea of creating handbooks with information regarding employment laws. Doing so is an initiative that provides documentation the workers can use to study on their own time about employment laws as well as reference