HR risk may impact profits

Why Business Owners need to know how HR risk may impact profits

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In the absence of dedicated HR advice and support, management of employee issues and ensuring employment law compliance mostly likely falls with the Managing Director / Business Owner. Does this sound like you?
If so, are you confident that you understand HR Risk? We have listed a few common examples below and the associated risks:

  • Failure to provide a written statement of employment within 5 days of an employee starting (penalty: up to €5,000)
  • Failure to retain records on working hours, breaks, and rest periods (penalty: up to €1,500)
  • If you lose an unfair dismissal claim in the WRC (penalty: up to two years’ remuneration paid to the former employee or employee reinstatement / re-engagement )
  • Should you lose a discrimination claim on one of the nine grounds in the WRC (penalty: up to €40,000)

Thankfully, with early intervention, most employee issues can be dealt with in a collaborative and informal manner. Equally, employment law compliance can be easily managed with a little focus and expertise.

Drew Consulting is your outsourced HR and talent Partner. We work with businesses like yours to implement the HR fundamentals (policies, procedures, employment contracts) and provide a dedicated account manager to your business, who is available when you need a quick response to HR and recruitment queries.