A wake up call for people professionals in Financial Services
New FCA regulation changes the HR landscape: read our short ebook to discover exactly how it will impact you.
The latest FCA regulations have significant implications for HR professionals working in the Financial Services industry, with additional obligations on these businesses to ensure employee compliance. The onus is on HR leaders to meet them meaning it’s more important than ever for HR to command a more increased role in business.
At Fairsail, we’ve been considering how we can support HR teams to handle these new responsibilities as there’s an impact on systems and processes throughout the HR remit. From checking candidate credentials in recruitment to maintaining accurate and complete employee records and documenting performance, it’s never been more crucial to have robust data and clearly defined responsibilities.
A single source of truth about an employee’s certification, training and performance to cope with the change is critical. From recruitment to onboarding and managing to engaging people, a modern HR management system can deliver this, ensuring compliance at every stage. Complete workforce visibility, available on demand and accurate, means HR leaders can demonstrate that compliance at any time. It’s a brand new pressure for HR in Financial Services who are already grappling with the people challenges of today’s workforce. These include managing complex workforces from 17 to 70 as well as the need to deliver an outstanding employee experience to maintain the team that will deliver growth in a demanding and competitive marketplace.
The stakes are high if you fail to meet compliance standards.
Can your current HR management system and processes stand up to this latest test? If not, now’s the time to make the case for moving to a new and comprehensive modern technology solution that can give your management team peace of mind in a highly scrutinized industry.
We’ve unpacked the key issues for firms in our new eBook “Ready for the consequences of poor visibility?” If you’re responsible for HR in the Financial Services industry, you need to read it. Download it now to stay ahead of the game.