Non-compliance penalties and contractor management
FREE03 – People Professionals and Finance
This CIPD Level 0 video, part of the FREE03 – People Professionals and Finance unit, examines non-compliance penalties and contractor management as critical financial risks within people practice. Drawing on assessment criteria AC 3.1, the video explores how organisations can face substantial penalties for regulatory breaches, alongside the financial implications of poor contractor management, including IR35 compliance considerations. By understanding these key financial risks, learners will be better equipped to identify and mitigate costly compliance failures and contractor-related exposures within their HR operations.
Assessment Criteria 3.1
Explain key financial risks linked to people practice.
Indicative Content
To include: payroll errors/fraud; non-compliance penalties; poor contractor management (IR35 where relevant); high turnover; uncontrolled overtime; absence and wellbeing costs; litigation and settlement costs; pension obligations.
What You'll Learn
Video covering: Non-compliance penalties and contractor management
About FREE03 – People Professionals and Finance
To develop learners’ understanding of essential finance concepts in business and how people professionals use financial insight to support workforce decisions, budgets and organisational performance.
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