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EDITOR’S NOTE:
Hello and welcome to
our first Persona of 2012. We’re delighted to have launched a new website for the new year and also made some changes to the format of our newsletter. Our main article each month will now be entitled ‘Ask the experts’ and we would love to hear your questions so that we can ensure we give you advice and information on relevant topics. Responses will be provided not only by the P3PM team but also our wider network of associates, covering a very broad range of topics. To start us off, I’ve answered this month’s question which has been a common query of late but will sincerely look forward to receiving readers’ questions for our future issues. Email them to
charlotte@p3pm.co.uk
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| Ask the experts
How can we objectively assess our business and build a strategic plan to move it forward?
Persona’s Charlotte Gallagher responds:
“This is a question which we are being asked more and more by clients. Some of them are preparing for sale, or applying for new funding, whilst others are simply looking to ensure they have the best management team in place in these tough economic times; with a view to grooming future leaders and managing others upwards or outwards.
“Essentially, the answer to this question is to put your business through ‘due diligence’ that will allow you to objectively assess your management team and your business’ strengths and weaknesses. The aims of this practice should be as follows…”
Read full story
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| Employment Law Update
Timetable of changes:
New award limits come into force – 1 February 2012
Forthcoming changes include increases to the limits on certain employment tribunal awards and other amounts payable under employment legislation. The maximum unfair dismissal compensatory award rises from £68,400 to £72,300 and the maximum amount of a week’s pay for the purpose of calculating a statutory redundancy payment, and the basic and additional awards for unfair dismissal, increases from £400 to £430.
Read full story
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How to prepare a contract of employment or written statement of particulars
A contract of employment can exist regardless of whether anything has been put in writing, as a contract comes into force as soon as there has been an offer of employment and an unconditional acceptance of that offer. Nonetheless, the Employment Rights Act 1996 requires employers to put certain key terms of employment in writing for all employees. This is known as a written statement of particulars of employment.
However, many employers elect to provide full written terms (contract of employment) at the same time as the offer of employment is made. This helps to reduce the likelihood of misunderstandings arising over what has in fact been offered.
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… that spending by UK employers on talent acquisition rose by 6% in 2011? According to the recent report identifying the increase, it is primarily driven by expectations for business growth.
The report also stated that the average cost per hire in the UK had risen to £5,311, compared with £2,226 in US, where there is less reliance on agencies and the resulting 20-30% recruitment fees.
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