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How You Can Improve HR Compliance: An Essential Guide

Compliance is an essential part of HR, and it can be a difficult responsibility to shoulder. To make sure that your company stays on the right side of the law, we’ve put together this guide for you. We’ll take you through some strategies to help improve compliance in your workplace – from keeping up with current legislation to creating a culture of self-policing and transparency.

Communicating With Employees

Employee communication is a critical component of HR compliance. Employees should be kept up to date on any changes or new policies, and they should be able to ask questions if they have them. This can be done in a variety of ways, such as through email, memos, or meetings.

By ensuring that employees are well-informed, you can help minimise the risk of noncompliance. If an employee needs more information about personal leave or harassment prevention, for example, they will be more likely to comply with your policies if they are aware of them. Regular communication is key to a successful HR compliance program. Make sure you are regularly updating employees on any changes, and that they feel comfortable asking questions if they have them. This will help create a positive working environment and minimise the risk of noncompliance.

Setting Up Policies & Procedures

One of the most important steps in improving HR compliance is setting up effective policies and procedures. This will help ensure that everyone in your organisation understands their responsibilities when it comes to workplace law. Policies and procedures should be tailored to your specific business, so make sure you consult with an attorney before drafting them.

Some of the key topics that should be covered in your policies and procedures include hiring practices, anti-discrimination and anti-harassment policies, pay and benefits, and discipline and termination. Hiring practices should include a detailed job description, application process, and interview questions. Your anti-discrimination and anti-harassment policies should cover what is considered to be harassment or discrimination, how to report incidents and the consequences for violating these policies. Your pay and benefits policy should outline your company’s wage and hour laws, as well as any benefits that are offered. The discipline and termination policy should outline the steps that must be taken before an employee can be terminated, as well as the consequences for violating these policies.

Training Employees

One of the most important aspects of maintaining HR compliance is ensuring that your employees are properly trained. This means providing them with all the information they need to do their jobs effectively and legally. It also means making sure they understand your company’s policies and procedures, as well as the laws governing employment in your state or country. Training should be an ongoing process, not a one-time event. Employees should be given regular updates on new laws and policies, and refresher courses periodically to ensure that they are up to date on the latest information.

The best way to ensure that your employees are properly trained is to develop a comprehensive training program specifically for your company. This program should include everything your employees need to know, from the basics of employment law to specific policies and procedures. It should also be tailored to the needs of your company and its employees. There are a number of resources available to help you develop a training program for your business. The Department of Labour offers a variety of online courses that can be customised to meet your company’s specific needs. Many universities and vocational schools also offer classes on employment law that you might find helpful in developing a training program for your employees.

Handling Investigations

When an allegation of wrongdoing is made, it’s important to act swiftly and decisively in order to protect both the company and the accused employee. An effective investigation can help you get to the bottom of things quickly so that you can take appropriate action. When conducting an investigation, it’s important to remember that you are looking for facts, not opinions. Be sure to document everything so that there is a record of your investigation and what you’ve done.

After conducting an investigation, review all records to make sure they are complete and accurate. If there is any information missing or unclear, such as dates, times, names of individuals interviewed or quotes from those people that may be relevant to the case at hand it should be completed or updated. Make sure that all individuals involved have been made aware of the results, if they haven’t already seen them in a report. Once you have conducted an investigation and analysed evidence it is time to make some decisions about how things will proceed from there. At this point, disciplinary action can be taken, if warranted. It is also important to document these decisions, as well as the rationale behind them.

When it comes to HR compliance, staying ahead of the curve is essential. By following these tips, you’ll be well on your way to creating a workplace that is both compliant and productive. Thanks for reading.

Want to Open a Drug Testing Centre? Here’s How

Drug testing has become an integral part of the criminal justice system. Organisations such as schools, employers, and government agencies have turned to drug testing as a way to detect illegal substances in people’s systems. Drug testing is also used for medical reasons, such as monitoring patients on medication or those who are suspected of being addicted to drugs.  There are many types of drug tests that can be conducted, from urine tests to hair follicle sampling and blood samples. Have you been thinking of how to open a drug testing centre? See how you can below.

Determine What Type of Drug Testing Business To Get Into

Before you decide how to open a drug testing centre, make sure you have a clear idea of what type of drug tests you want to do. Drug tests can fall under several categories: pre-employment, random, reasonable suspicion, or post-accident. If you are not set on any one category, your test business will be limited in what type of customers you can service. However, many drug testing businesses offer a range of services, so it is important to research the different types of drug tests and what they entail.

Learn The Basics of The Business

There is a lot to learn when it comes to running a drug testing business. Not only do you need to be familiar with the different types of tests, but you also need to know how to start a drug testing business (business perspective not technical know-how) and understand the legal requirements in your area. You’ll also need to know how to read and understand test results, as well as have a good understanding of drug addiction and how drugs affect the body.  Laws governing drug testing vary from state to state, so it is important to know what is required in order to stay compliant. You will also need to learn about the different types of testing equipment and how to use it.

Get the Necessary Licenses and Permits

In order to open a drug testing centre, you will need to obtain the necessary licenses and permits. These vary state to state, some examples are below:

  • If you would like to operate a home-based business, your local zoning laws will apply. Home businesses may need to meet certain zoning criteria.
  • Your first step is contacting your State Board of Pharmacy; they will provide more information on specific licenses needed for your type of business.
  • You can also contact the Drug Enforcement Administration (DEA) in order to get a permit to possess and use controlled substances for legitimate medical, scientific, or other lawful purposes.
  • Check with your state health department for any specific regulations on drug testing that must be met.

Form a Business Entity

Forming a business entity is important for any business, and drug testing is no different. This will protect your personal assets in the event that your business gets sued. There are many types of business entities to choose from, so it is important to do some research and find one that fits your needs. Some of the most common business entities are sole proprietorship, partnership, LLC, S Corporation, or C Corporation.

No business is complete without insurance. The type of insurance you need will depend on the type of business you have. Some general types of insurance to consider are liability, property, and product liability.

Find a Location

Before looking for a location where to start your drug testing centre in your home make sure you do some market research to see if it makes financial sense. Factors to take into account when determining the best possible location include:

  • Is there a drug testing facility in your area? A drug test can be costly, so it is important to know if there is an existing market for the service.
  • Is the location centralised and accessible by public transportation?
  • Do you have sufficient parking space available?
  • What are the zoning laws of the city where you plan on opening your business?

Make a Marketing Plan

Conduct market research before opening your drug testing centre. This will help you determine which demographics you want to target and how to reach them, as well as what your prices will be. Your marketing strategy should include the types of media you plan on using, such as print ads or mailers, and where you will place them. You will also need to create a website for your business, which should include all the relevant information about your centre, such as services offered and contact information.

Write a Business Plan

A business plan is a document that outlines your business goals and how you plan on achieving them. This is an important tool to have when applying for loans or investors. The business plan should include a detailed description of your business, the services you offer, your target market, and your marketing strategy.

It is also important to have a financial section in your business plan. This will include your projected income and expenses, as well as a breakdown of how you plan on funding your business. Opening a drug testing centre can be a lucrative business venture, but it is important to do your research and take the necessary steps to ensure its success.

Hire Trained Collectors

Collectors are the employees who will be responsible for collecting samples for testing from your clients. It is important to hire collectors who have been trained in proper collection procedures. This will help ensure the accuracy of the results and protect the reputation of your business.

You will also need to hire a quality control person for your drug testing centre. This person is responsible for overseeing the entire drug testing process and making sure that everything functions as it should. They typically do not interact with clients, but instead handle the paperwork and report directly to the owner of the business.

Establish Procedures and Market Your Business

Before opening your centre, it is important to establish policies and procedures so that your employees know exactly what is expected of them. You will also need a policy for the confidentiality of drug test results, including who is allowed access to this information and how it can be shared.

Once your centre is up and running, it is important to market it effectively. This will help you attract new clients and maintain the business you have already established. Use all of the marketing tools available to you, such as print ads, mailers, and your website. You can also offer discounts to customers who refer others to your centre.

The most important part of starting a drug testing centre is making sure that you adhere to all the regulations and laws governing the industry. By following these tips, you can put yourself in a better position for success.

Procedure for Obtaining Mobile Money Operator License in Nigeria

On 3rd August 2021, the recent Central Bank of Nigeria (“CBN”) released the Guidelines for the Establishment and Regulation of Payments Service Holding Companies (“PSHC”) in Nigeria. The Guidelines requires companies that intend to offer both switching and processing and mobile money services to set up a PSHC structure.

The Guidelines defines PSHC as a company whose principal object clause is to be a holding company set up for the purpose of making and managing equity investment in 2 (two) or more companies, being its subsidiaries, which are payment service providers across the following categories:

  1. Mobile Money Operations (“MMO”)
  2. Switching and Processing
  3. Payment Solution Services.

(A) Share capital

The minimum issued share capital of a company seeking to apply for an MMO license is N2,000,000,000.00 (Two Billion Naira) (approximately US $ 3, 703, 704 (Three Million, Seven Hundred and Three, Seven Hundred and Four United States dollars) at 540 naira per dollar.

The PSHC and MMO are in the same category with the switching and processing and payment solution services subsidiary companies in terms of the minimum share capital requirement of N 2, 000,000,000.00 (Two Billion Naira) share capital which must be deposited with CBN before the completion of the license application process.

(B) Procedure for Obtaining a Mobile Money Operator License

The licensing requirement as provided in the CBN guideline requires the promoters of the companies to submit a formal application for the grant of a License addressed to the Director, Payments System Management Department of the CBN.

The licensing process shall be in two phases: Approval-in-Principle (AIP) and Final License stage.

(C) Requirements for Grant of Approval-In-Principle (AIP)

The application shall be accompanied with the following:

  • A non-refundable application fee of N1, 000,000.00 (One Million Naira) (approximately US $ 1, 852 (One Thousand, Eight Hundred and Fifty Two United States dollars) or such other amount that the CBN may specify from time to time; payable to the CBN, through electronic transfer.
  • Evidence of meeting the prescribed minimum paid-up capital subject to the satisfaction of the CBN.

Detailed business plan or feasibility report which shall, at a minimum, include:

  • Objectives of the PSHC and those of the subsidiaries it intends to establish/acquire.
  • Justification for applying for the payments service holding company.
  • Ownership structure in a tabular form indicating the name of proposed investor(s), profession/business and their percentage shareholdings.
  • Bio-data, resume/curriculum vitae of proposed investors.
  • Indication of sources of funding of the proposed equity contribution for each investor.
  • Where the source of funding the equity contribution is a loan, it shall be a long term facility of, at least, a 7-year tenor, and shall not be obtained from the Nigerian banking system or foreign subsidiaries of Nigerian banks.
  • Corporate Governance Charter of the PSHC stating the roles and responsibilities of the board and its sub-committees, among other things.
  • Criteria for selecting board membership.
  • Bio-data and detailed resumes of directors and board composition.
  • List of identified top/senior management staff, bio-data and detailed resumes stating qualifications, experiences, records of accomplishment, etc.
  • National or Government issued identity documents (International Passport, etc.) bio-data and Bank Verification Numbers (BVNs) of proposed Board and management staff of the company.
  • The Tax Identification Number (TIN) of the company and its Tax Clearance Certificate where applicable.
  • A schedule of services that will be shared in the group.
  • Five-year financial projection on the operations of the PSHC indicating expected growth and profitability, and details of the assumptions that form the basis of the financial projection.
  • Details of Information Technology (IT) infrastructure proposed to be deployed.
  • Information on and pictorial representation of the corporate group structure with shareholding percentage by the PSHC in each of the subsidiaries and their principal businesses and registered Head offices.
  • A written and duly executed undertaking by the promoters that the PSHC shall be adequately capitalised for the volume and character of its business at all times, and that the PSHC shall be under the supervisory authority of the CBN, as an Other Financial Institution (OFI).
  • For regulated foreign institutional investors, the CBN shall require a no objection letter from the regulatory body in the home country.
  • Shareholders’ agreement providing for disposal/transfer of shares as well as authorisation, amendments, waivers, reimbursement of expenses, etc.
  • Statement of intent to invest in the PSHC to be made by each investor in the PSHC.
  • Technical Services Agreement, where applicable.

Draft copy of the company’s Memorandum and Articles of Association (MEMART). At a minimum, the MEMART shall contain the following information:

  • Proposed name of the PSHC.
  • Object clause which shall be limited to the permitted activities of its license.
  • Subscribers to the MEMART.
  • Procedure for amendment.
  • Procedure for share transfer or disposal.
  • Appointment of directors.
  • Where the promoters of the PSHC are corporate investors, the CBN shall require them to forward the following additional documents.
  • Certificate of Incorporation.
  • Board resolution supporting the company’s decision to invest in the equity shares of the proposed PSHC.
  • Names, biometrics, BVNs and addresses (business and residential) of owners, directors and their related companies, if any.
  • Audited financial statements and reports of the company, including Tax Clearance Certificate for the immediate past 3 years.
  • Certified True Copies of the company’s CAC forms showing the details of allotment and particulars of directors.
  • Any other document/information that the CBN may require from time to time.
  • If satisfied with the application of the promoter(s), the CBN may grant an Approval in Principle (AIP).

Duration

The AIP stage usually takes a period of between 2-3 months to process.

(D) Requirements to Incorporate an MMO company

Companies in Nigeria are incorporated at the Corporate Affairs Commission (CAC). The requirements for incorporating a company are as follows:

  1. 2 (two) unique names of the proposed company to be reserved at the CAC;
  2. Name, address, phone number, email and means of identification of at least 2 Directors, one of which must be a Nigerian or a foreigner with business permit to carrying on business in Nigeria;
  3. Name, address, phone number, email, means of identification of at least one Share holder and in the case of corporate shareholder its incorporation Certificate and Board Resolution to acquire shares in the proposed company;
  4. Objects of the proposed company;
  5. Nigerian address, phone number and email of the proposed company;
  6. Special Articles of Association of the proposed company ;
  7. Name, address, phone number, email, means of identification of Company Secretary;
  8. Approval in Principle from CBN;
  9. Payment of statutory filing fees and stamp duty.

Duration

The incorporation stage will take a period of 7-10 business days.

(E) The Requirements for Granting a Final License

Within six (6) months after obtaining the AIP and incorporation of the company, the promoters of a proposed PSHC shall submit an application to the CBN for the grant of a final license.

The application shall be accompanied with the following:

  • Non-refundable licensing fee of N5,000,000.00 (Five Million Naira) (approximately US $ 9, 259), or such other amount that the CBN may specify from time to time, payable to the Central Bank of Nigeria by electronic transfer.
  • Evidence of promotion or investment of a payment service company.
  • Evidence of payment of capital contribution by each shareholder.
  • Evidence of location of Head Office (rented or owned) for the take-off of the PSHC.
  • Schedule of changes, if any, in the Board, Management, IT infrastructure and significant shareholding since the grant of AIP.
  • Evidence of ability to meet technical requirements and modern infrastructural facilities such as office equipment, computers, telecommunications, etc. to perform PSHC operations and meet CBN and other regulatory requirements.
  • Organisational structure, showing functional units, responsibilities, reporting relationships and grade (status) of heads of departments/units.
  • Board and staff training program.

Duration

The Final Licence stage usually takes a period of between 2-3 months to process.

(F) Requirements for Commencement of Operations

Upon obtaining the Final Licence, the PSHC shall inform the CBN of its readiness to commence activities and such information shall be accompanied with one copy of each of the following:

  1. Shareholders’ Register.
  2. Share certificate issued to each investor.
  3. Enterprise Risk Management Framework (ERMF).
  4. Internal Control Policy.
  5. Minutes of pre-commencement board meeting.
  6. Opening statement of affairs signed by directors and auditors.
  7. Date of Commencement of Activities.

(G) Conclusion

In order to manage financial risks and for efficiency of the business, the CBN expect promoters of a Mobile Money Operator company to form at least 3 (three) companies; first, the PSHC which is the holding company; second, a mobile money operator subsidiary and third, the switching and processing subsidiary. Each of the 3 (three) companies shall have a minimum share capital of N 2, 000, 000, 000 (Two Billion naira).

Fred-young & Evans LP

Fred-young & Evans LP