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Starting Up A Business? 8 People Practices You Need To Know

Exciting times, exciting times. However, we bet you’re suddenly starting to focus on the vast quantity of paperwork coming your way, aren’t you? Get things right from day one, to ensure that your business doesn’t slip up on any legalities.

Risk Management

Any business should undergo risk management, to help make sure that they’re covered, when it comes to any unforeseen problems. Speak to a risk management specialist about this, to help guard your company against future attacks or misfortune. 8 out of 10 new businesses fail, so it’s money well-spent.

Employment Contracts

Protect yourself commercially, by clearly laying down the terms of your new employee’s contract. This will include heavy clauses on confidentiality, if your employee leaves (especially to a competitor). Your clients need to be protected just as much as you do.

Pay And Benefits

Do your research on the market about pay, in terms of what is the industry standard, and what you can afford. From this, create a standard idea of how much pay you’d be willing to allocate to certain roles in the company, and what benefits these employees would receive.

Holidays

If you’re working from the UK, you have to offer your employees a minimum of 28 days of holiday, but bank holidays can be included in this sum too. You have to be clear about your holiday booking system, and if your employees have to assign any to the Christmas period, by default. Some companies like to have a “notice period” for booking holidays, but it’s up to you!

Health And Safety

Health and safety is a huge legal requirement. One huge issue around office work is that a lack of ergonomic equipment can cause your employees serious harm. Be sure to invest in ergonomic equipment and train your employees in how to sit at their desks without injury. Other than that, be exceptionally careful about the health and safety standards around your office. You don’t want anyone getting hurt, and you certainly don’t want to be taken to court because of it.

Pensions

Legally, you have to contribute to your employees’ pension scheme. They will be automatically enrolled. It’s always worth going to the Government’s website, to find out more on this topic.

Employee Guidelines

Every company has its own way of working, so be sure that you know where you stand. Your employee guidelines can be anything from a hugely creative document, detailing your brand and how your employees can become a part of your company, to something quite firm and serious, explaining no tolerance policies to lateness or sexist conduct.

Performance Reviews

It’s always good to get together with your employees, to discuss how things are going in the company, what issues your employees are facing, and how you can work through things together. Handle this lightly! It shouldn’t be a serious affair – just a chat. Effectively, you’re encouraging people to get behind your business, by taking an interest in their development within the company.

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