13 January 2017 - Post by:Sheila Fahy
Normally, we like to predict the employment horizon for the coming year but after 2016, it seems foolhardy to do so. That said, our theme for 2017 is metamorphosis, although nobody knows what the transformation will look like. We do know though that the future is uncertain both from a domestic, EU and global perspective, and that we need to be agile in the transitional period in order to seize opportunities, and to manage the fluctuations.
Looking back, 2016 was the year in which women received more attention than usual from the Government, legislators, industry groups and company boards. This is unlikely to change in 2017 as the new Gender Pay Gap Reporting regime will take centre stage. Employers should now be considering whether to undertake a privileged review of their gender pay data ahead of the first snapshot date on 5 April.
Also on the radar is the new General Data Protection Regulation (which will apply from May 2018). Although this may seem like a long way off, early preparation towards compliance is key given onerous new obligations for those who control the processing of data and potential sanctions including fines of up to 2% of annual worldwide turnover.
For those in the financial services sector, and covered by the Senior Manager and Certification regime, 2017 is likely to present challenges as firms must take responsibility for certifying their population as fit and proper, as well as for ensuring that systems and processes support the new reference system.
We enclose our calendar for the first six months of 2017 which captures the key dates and priorities.