Keeping up with frequently changing employment laws can be overwhelming, with costly consequences for those that fall out of compliance. Maintaining an efficient and compliant human resources (HR) function is more important than ever. Being HR complaint will align your organisation with regulatory standards, enhance employee engagement, and manage risk.
There are a number of legislative requirements that must be met in order to protect your organisation if a Workplace Relations Inspection (WRC) takes place. A WRC inspection monitors employment conditions to ensure compliance and enforcement of Employment Rights Legislation in Ireland.
The Workplace Relations Act 2015 (Fixed Payment Notice) Regulations 2023 (the “Regulations”) were published on 12 January 2024, consolidating both new and existing fixed payment notices for employment law violations. These regulations introduce On-the-Spot Fines ranging from €500 to €2000 per breach.
Employment in today’s environment can be challenging. Whether you are concerned about aligning your people agenda to your current business needs, complying with complex employment laws, or creating an engaging and respectful workplace, getting a clear picture of where you are and where you want to be is essential.
A HR Compliance Audit ensures that your credit union has the relevant documentation, key policies and records in place to ensure that you are up-to-date and in compliance with Employment Legislation.
These audits enable organisations to get a clear view of their existing employment and HR practices and provide valuable information about vulnerabilities, out-of-date policies, and inefficient practices.
Benefits of HR Compliance Audit:
1. Risk Mitigation: Helps your credit union proactively address potential compliance risks by identifying weak areas and providing corrective actions. This minimises the likelihood of legal disputes or penalties.
2. Cost Savings: Avoiding non-compliance fines and potential case law which can result in substantial cost savings. In addition, consultants can streamline HR processes, saving time and resources.
3. Expert Knowledge: Employment laws and regulations are constantly evolving. Our HR Solutions Team keep up-to-date on these developments, understand the complexities of maintaining compliance and provide organisations with the knowledge needed to remain compliant.
4. Improved Employee Relations: A compliant workplace fosters trust and transparency. By adhering to laws and regulations, credit unions can create a fair and equitable work environment, leading to higher employee engagement and retention.
How RBK can help Credit Unions:
At RBK, we know and understand the credit union sector. We have developed a practical and pragmatic approach to our service delivery that allows our clients to identify compliance gaps and strengthen their internal control frameworks.
Non-compliance with employment laws, health and safety regulations, and industry-specific guidelines can result in significant financial penalties, legal liabilities, and damage to an organisation’s reputation.
Why not consider including a HR compliance check as part of your next internal audit or compliance management cycle. This check will be completed by your existing team at RBK with the support and expertise of our talented HR solutions team.
Contact Us:
For more advice and support on how to become and remain compliant, or to discuss our services, please contact a member of the Team:
Michelle O’Donoghue - Governance, Risk and Assurance Partner - (090) 6480600
Yvonne Clarke - HR Solutions Manager - (090) 6480600
Disclaimer: While every effort has been made to ensure the accuracy of information within this publication is correct at the time of going to print, RBK do not accept any responsibility for any errors, omissions or misinformation whatsoever in this publication and shall have no liability whatsoever. The information contained in this publication is not intended to be an advice on any particular matter. No reader should act on the basis of any matter contained in this publication without appropriate professional advice.
