John Petter, CEO of Zellis said:
“In the midst of the busy winter period, retail businesses must take stock of whether their current payroll and HR systems are suited to handling the complexities of their workforce. Rigorous and ever-changing employment rules, especially those which relate to pay and benefits, are being more strongly enforced than ever before. Non-compliance can cause a myriad of unnecessary financial, reputational and HR problems for retailers that are already under significant pressure due to squeezed margins, rising costs, and low consumer confidence. Unfortunately, increased competition, combined with a drive to cut costs, could be contributing to underinvestment in the back office systems which are vital to the wellbeing of employees on the ground. But if retailers want to preserve a strong high-street presence – which itself must be underpinned by a happy and engaged workforce – this is a problem which needs to be urgently addressed in 2020.”
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Webcast: Christmas payroll considerations 24 December 2019
Lora Murphy, Senior Policy Liaison Officer at the CIPP has recorded a webcast ahead of the festive break that discusses the implications of Christmas on December pay dates and for payroll departments. The discusses the following areas of interest:
• The effect of early payment dates and key points to consider • FPS easement over Christmas period • Providing staff benefits • Overtime & temporary staff • January – a new holiday year
Please follow this link to access the webcast.
Visit My CIPP on our website for other topical webcasts - an easy way to update your team on aspects of payroll legislation.
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Three-fifths of UK organisations not prepared for executive pay ratio reporting 25 December 2019 Payroll software and services provider, MHR, collated the responses from a Twitter poll that included 1,000 people who would be responsible for reporting the executive pay gap at their company. The results highlighted that a staggering 60% of businesses are still not prepared for the new rules which will come into effect in 2020. UK listed companies who employ over 250 employees are required to report the pay ratio between their chief executive and what are classed as “average” employees, due to legislation that was introduced in January 2019. Employers will be obligated to disclose this information on a yearly basis, and it is crucial that payroll professionals and companies, in general, are well prepared for the upcoming changes. The figures that will be reported are the ratio of the CEO’s pay to the median, lower quartile and upper quartile pay of UK employees. There will also be the added requirement for large companies to report how directors take employee and other stakeholder interests into account, and large private companies will need to report on corporate governance arrangements.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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