Policy News Journal - 2016-17

The Chartered Institute of Payroll Professionals ……………………………………………………………Policy News Journal

The Annual Fraud Indicator 2016, conducted by the UK Fraud Costs Measurement Committee with Experian, PKF Littlejohn and the University of Portsmouth’s Centre for Counter Fraud Studies, found the annual total cost of fraud in the UK stands at £193bn per year. Gary Webb, of the Bond Payroll Services, noted that any business can be prone to fraud. “Payroll fraud goes on quite regularly in businesses without them knowing about it. There is high and low-level fraud going on. Low level [fraud] is things like adding on a few miles onto an expenses claim. Then there are people who are genuinely out to defraud a company, such as the ghost employee level [i.e. the number of people on the payroll who don’t actually work for the company in question] – where people involved in the payroll process actively seek to defraud a company.”

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Employment rate stays at record high of 74.2% 17 June 2016

Unemployment has dropped to its lowest rate since 2005 while the employment rate has stayed at a record high of 74.2%.

Official figures published by the Office for National Statistics (ONS) show the unemployment rate now stands at 5.0% and there are nearly 31.6 million people in work.

There are nearly half-a-million more people in work compared to a year ago, with wages before bonuses up by 2.3% in the same period. The growth in employment is being driven by full-time work.

The labour market statistics also show:

 the female employment rate is still at 69.2%, the highest since records began in 1971  there are around 750,000 unfilled vacancies in the economy at any one time  at 5.6%, the proportion of 16 to 24 year olds who have left full-time education and are unemployed has never been lower.

Read the full Labour Market Statistics – June 2016 from the ONS.

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New guidance on business and human rights 21 June 2016

A new section on the Equality and Human Rights Commission’s website has been created aimed at bringing human rights to life, explaining how they work and the protections they offer.

Included is a new five-step guide that will help board directors ensure their companies respect human rights.

Businesses have a significant impact on the way we live our lives and enjoy our human rights, whether as an employee, a customer or simply living alongside companies that share our cities and towns.

Board directors are uniquely placed to ensure that their companies know what their human rights responsibilities are and how they can meet them.

The guide also provides advice on how businesses can meet the UN Guiding Principles on Human Rights.

The Commission has produced a short animation that outlines how businesses can impact on people’s human rights.

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