Employment Updates | January 2020
2020 is expected to be an eventful year.
Brexit will no doubt continue to dominate the political landscape during the year however there are other interesting requirements due this year:
the new requirement to publish the ratio between the Chief Executive Officer's pay and the median pay in the wider workforce will take effect for financial years beginning on or after 1 January, and so many companies (250 staff +) will be collecting data and putting systems in place to facilitate the publication of these reports in 2020;
new legislation introducing a right for all workers to be provided with an itemised pay statement will come into force in April;
Employees from April will have a right to be provided with a written statement of terms on the first day of employment, rather than within the first two months. It is key that employers take note of this or face financial penalties;
Another big change from April, is when working out an “average week's pay” (for the purposes of calculating statutory holiday pay) this is now based on the average of 52 weeks not 12 weeks.
Posted on 01/08/2020 by Ortolan
