Weekly news 14/10

Weekly news 14/10

News

Open Doors ‐ Register Now!               

The Countdown to #OpenDoors25 is well and truly underway and Build UK members across the supply chain can now register the events they are planning to offer from Monday 17 ‐ Saturday 22 March! Everyone can play their part in inspiring careers in construction by opening up sites, offices, manufacturing facilities and training centres across the UK, and our Open Doors Partners have already listed an exciting range of events, including Canary Wharf Group’s Wood Wharf, Sunbelt Rentals’ Wetherby Utilities Depot, and Willmott Dixon’s Bridgend College Town Centre Campus.

Construction needs to recruit 50,000 new entrants a year and Open Doors is a unique opportunity for young people and those looking for a change of career to go behind the scenes and see just what the industry has to offer. We know that schools and colleges require advance notice to organise visits, so please register your events as soon as possible, and further information can be found in our latest Open Doors update.

Reporting on Retentions

After being withdrawn as a result of the General Election, the draft legislation to amend the Reporting on Payment Practices and Performance Regulations to introduce new metrics on retentions has now been re‐laid by the Department for Business and Trade (DBT). Large companies will be required to publish the following information as part of their payment reports every six months:

  • A series of statements confirming whether retention clauses are used and if so whether there are any standard terms
  • A description of the process for release of retention
  • A sum showing the overall value of retentions held by the company from its suppliers as a percentage of that held by its clients
  • A sum showing the total retention held from the company’s suppliers as a percentage of all money paid to suppliers.

These amendments to the Regulations apply to each financial year of a company beginning on or after 1 April 2025, and DBT has confirmed that for companies with a financial year beginning on 1 January, their first reports containing the new metrics will be for the period 1 ‐ 30 June 2026 and need to be submitted by 30 July 2026. New metrics on the value of invoices paid and disputed invoices will come into force from 1 January 2025.

Building Financial Security

With research showing that one in five employees have money worries that affect their job performance, financial wellbeing is a crucial part of any employee welfare strategy. Build UK Partner People’s Partnership is encouraging businesses across the supply chain to focus on supporting the financial wellbeing of their employees, which can help to create a more focused, stable and loyal workforce, ultimately improving productivity and reducing turnover.

Financial security is about feeling confident enough to make choices that improve quality of life, and employers can help by offering financial literacy workshops covering topics like investment basics and credit management, as well as providing practical support for immediate concerns such as budgeting guides, emergency savings plans and debt management strategies. Promoting pension contributions and supporting employees to combine multiple pension posts using resources like the People’s Pension retirement planner and the Government’s pension tracing service can also help them achieve the retirement they want. Further information about People’s Partnership and how its products could support your employees can be found on the People’s Partnership website.

Sexual Harassment

From 26 October 2024, employers will have an express obligation to take reasonable steps to prevent sexual harassment of their employees. The Equality and Human Rights Commission has published updated technical guidance and a supplementary eight‐step guide for employers setting out the types of action that should be taken

Paper on  the fitness for purpose of EN1317

Download here

 

 

 

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