Sage on the Web

If you or your company give or receive corporate hospitality or gifts you could find yourself on the wrong side of the Bribery Act 2010 when it comes into force on 1^st July.

Whilst the Justice Minister has tried to reassure us that “no one wants to stop firms getting to know their clients by taking them to events like Wimbledon or the Grand Prix” lawyers have been quick to counteract that the statute is open to different interpretations.  Failure to comply could  result in a fine and even imprisonment.

There is plenty that can be done to ensure that your systems and procedures are compliant with the Act.  The first step is to conduct a risk assessment – to get you on your way click here for a FREE risk assessment form.  The green, amber or red light at the end of the form will identify your level of risk but you will also need to:

1. Put comprehensive and robust policies and procedures in place
2. Select a ‘champion’ to be responsible for ensuring compliance
3. Communicate and train your staff on this important issue
4. Review any relationships you have with JV (joint venture) partners, agents, contractors and suppliers

 Mike O’Connell, CEO, Isosceles Finance

It never ceases to amaze me how many companies lay themselves open to employment tribunal claims. 

The Department for Business, Innovation & Skills (BIS) recently revealed that 20% of business owners are worried that they are getting their employment obligations wrong, while a further 34% believe that employment legislation is not relevant to their business.  That adds up to a high proportion of employers at risk of infringing employment law.

It comes as no surprise therefore that the most recent Employment Tribunal statistics (to March 2009) show that claims have rocketed again this year to 266,542 – a rise of some 40% - the cost to employers was £2.6bn 

Whilst it would be inprudent of me to tell you that its is possible to eliminate the chance of a claim it is definately possible to minimise the risk or mitigate  the impact of any claim by taking a few basic precautions and ensuring that your employment contracts comply with the lastest employment legislation.

Never let it be said I’m not a generous man.  Click here for a bit of free consultancy and your own copy of Employment Legislation – 10 Ways to Mimimse your Risk  Exposure.

Mike O’connell, CEO, Isosceles Finance