New UK Regulation Requires Employee Engagement and Pay Disclosures

A law that took effect in 2019 now requires mid-size to large UK companies to publicly disclose employee engagement activities as well as the ratio of CEO pay to median employee income.

UK Miscellaneous Reporting Regulations 2018 now require companies with more than 250 UK employees, or with annual sales of 36 million pounds ($47 million) or a balance sheet of over 18 million pounds ($23.5 million), to report on “how the directors have taken into account the view of employees” in policy decisions and practices.

According to a report by Wedlake Bell, a UK consulting firm, these companies are obligated to publish an annual report that addresses actions taken during the financial year to:

• Provide employees with information on matters of concern of them.

• Consult employees or their representatives on a regular view and taking their views into account on decisions that affect their interests.

• Encourage the involvement of employees in the company’s performance through some sort of gain-sharing or other means.

• Achieving a general awareness on the part of employees of the financial and other factors affecting the organization.

These organizations almost report on the “ratio of the CEO’s pay to the media percentile full-time equivalent of the remuneration of the company’s UK employees,” as well as to disclose how share price outcomes of public companies affects executive pay.

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Master the Principles of Enterprise Engagement to Achieve Organizational Goals and Enhance Your Career

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Learn how to create Sustainability or Integrated Reports for Your Organization or Clients.
Get up-to-speed on ISO human resources standards and guidelines to enhance HR performance.

Live Education:

ISO Human Capital Standards Bootcamp, March 12-13, Chicago

The Northwestern University Law School’s Workforce Science Project is hosting the first certification preparation program for ISO 30414 Human Capital Reporting and ISO 10018 Quality People Management standard, the first of which was recently achieved by DTE Energy. Professionals for organizations and solution providers seeking to benefit from the new ISO 30414 Human Capital Standards, ISO 10018 Quality People Management, and other standards can attend an intensive program requiring no more than one night away from the office for most US attendees to learn how these standards an improve performance, efficiency, and stakeholder experiences and prepare for certification. Click here for more information.

Enterprise Engagement in Action. Take advantage of scheduled monthly live webinar preparation courses for the Certified Engagement Practitioner designation consisting of three one-hour classes and of quarterly Advanced Engagement Practitioner courses consisting of three one-hour webinar classes. The AEP course is for individuals or teams seeking preparation ISO 10018 professional certification status. ICEE periodically runs regional one-day workshops on ISO 10018 Quality People Management principles and certification.

Resources: The Brand Media Coalition, the only guide to the story-telling power of brands and where to source them for business, event, promotional gifting, and rewards and recognition. 2019 Enterprise Engagement Solution Provider Directory. The only directory of engagement solution providers covering all types of agencies and tactics as well as insights on how to select them.

Communities: The Enterprise Engagement Alliance and Advocate and the Brand Media Coalition free resource centers offering access to the latest research, news, and case studies; discounts, promotions, referrals, and commissions, when appropriate to third-party solution providers from participating coalition solution provider members.

In Print:

Enterprise Engagement for CEOs:The Little Blue Book for People-Centric Capitalists
This is the definitive implementation guide to Stakeholder Capitalism, written specifically to provide CEOs and their leadership teams a concise overview of the framework, economics, and implementation process of a CEO-led strategic and systematic approach to achieving success through people. (123 pages, $15.99)

Enterprise Engagement: The Roadmap 5th Edition
The first and most comprehensive book on Enterprise Engagement and the new ISO 9001 and ISO 10018 quality people management standards. Includes 36 chapters detailing how to better integrate and align engagement efforts across the enterprise. (312 pages, $36.)

Online:
10-minute short course: click here for a 10-minute introduction to Enterprise Engagement and ISO standards from the Coggno.com learning platform.

Services:
•  The International Center for Enterprise Engagement at TheICEE.org, offering: ISO 10018 certification for employers, solution providers, and Enterprise Engagement technology platforms; Human Resources and Human Capital audits for organizations seeking to benchmark their practices and related Advisory services for the hospitality field.
•  The Engagement Agency at EngagementAgency.net, offering: complete support services for employers, solution providers, and technology firms seeking to profit from formal engagement practices for themselves or their clients, including Brand and Capability audits for solution providers to make sure their products and services are up to date.
•  C-Suite Advisory Service—Education of boards, investors, and C-suite executives on the economics, framework, and implementation processes of Enterprise Engagement.
•  Speakers Bureau—Select the right speaker on any aspect of engagement for your next event.
•  Mergers and Acquisitions. The Engagement Agency’s Mergers and Acquisition group is aware of multiple companies seeking to purchase firms in the engagement field. Contact Michael Mazer in confidence if your company is potentially for sale at 303-320-3777.

Enterprise Engagement Benchmark Tools: The Enterprise Engagement Alliance offers three tools to help organizations profit from Engagement. Click here to access the tools.
•  ROI of Engagement Calculator. Use this tool to determine the potential return-on-investment of an engagement strategy.
•  EE Benchmark Indicator. Confidentially benchmark your organization’s Enterprise Engagement practices against organizations and best practices.
•  Compare Your Company’s Level of Engagement. Quickly compare your organization’s level of engagement to those of others based on the same criteria as the EEA’s Engaged Company Stock Index.
•  Gauge Your Personal Level of Engagement. This survey, donated by Horsepower, enables individuals to gauge their own personal levels of engagement.

For more information, contact Bruce Bolger at Bolger@TheEEA.org, 914-591-7600, ext. 230.

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