As an employer, it's important to stay up-to-date with the ever-changing landscape of Human Resources. With the new year upon us, it's time to prepare for the changes that will come into effect in 2024 ...
Review your policies and procedures to ensure compliance with the new Human Resources laws being introduced in 20204!
This includes everything from annual leave rules to parental leave rights, here's what you can expect in the world of Human Resources in 2024:
First and foremost, the emergency Covid rules implemented in 2020 allowing for four weeks of leave to be carried over for up to two years will be removed. This means that all remaining leave under this rule must be used before 31 March 2024. This change is important to note for employers whose annual leave year begins on or after 1 April 2024.
Furthermore, the National Living Wage and National Minimum Wage rates are set to increase in April 2024. The Government has announced that the National Living Wage will see a significant increase, reaching £10.33 per hour. This is part of the Government's plan to increase the National Living Wage to two-thirds of median earnings by 2024. Employers should start preparing for these changes now to ensure compliance with the new rates.
The Government is also planning to introduce a new right for workers to request a more predictable and stable contract after 26 weeks of service. This means that employees on zero-hours contracts or those with irregular working hours can request a fixed working pattern from their employer. This change aims to provide more security and stability for workers in the gig economy.
There will also be changes to the rules on agency workers' rights. The Government is planning to abolish the 'Swedish Derogation', which allows employers to pay agency workers less than permanent employees. This change will mean that all agency workers will be entitled to the same pay and benefits as permanent employees after 12 weeks of service.
And finally, there will be changes to the rules on employment tribunals. The Government is planning to increase the maximum penalty for employers who breach employment rights from £20,000 to £50,000. This change aims to deter employers from violating employment laws and provide more protection for employees.
2024 will be a busy year for business owners as new employment laws come into force. From changes in annual leave rules to new parental leave rights, it's important to stay informed and prepared for these changes.
Review your policies and procedures to ensure compliance with the new Human Resources laws and provide a fair and supportive workplace for your employees.
Until next time ...
ROGER EDDOWES Business Godparent
Would you like to know more?
If anything I've written in this blog post resonates with you and you'd like to discover more about the changes to human resources in 2024, it may be a great idea to call me on 01908 774320 and let's see how I can help you.
Don't forget to stay updated with our daily social media posts on Facebook.
Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.
Roger loves getting his hands dirty, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.
No unauthorised use, duplication, distribution or modification to any original content contained within this blog is permitted without prior written permission of the author. All other trademarks and registered names are acknowledged.