Professional Passport Publishes The First Compliance Benchmark Standard for Umbrella Providers
Professional Passport, the largest independent assessor of provider compliance, has today announced the publication of the first comprehensive compliance benchmark for umbrella providers.
The benchmark standard is being published as a reference book entitled The Compliant Umbrella Providers Operational Handbook which is the most comprehensive book ever produced on umbrella compliance. The 17 chapters cover, in detail, everything that is required to ensure an umbrella operates compliantly. The information also highlights the importance of the relationship between the umbrella company and the recruitment company to ensure ongoing compliance.
Crawford Temple Managing Director of Professional Passport commented at the launch: "This provides the most comprehensive and detailed reference manual on all the processes and procedures required to operate a compliant umbrella company and sets a clear benchmark standard for compliance across the sector; something that has been lacking up until now. It has been written in such a way that you do not have to be a lawyer or legal expert to understand it. We have tried to outline, in clear terms, the operational processes and procedures so that anyone can assess their own current processes against the benchmarked standards or, if they need to, they can simply replicate and implement the benchmarked procedures. It also provides a central reference point for the many bulletins, regulations and legislation that apply so everything is in one place."
He went on to say: "We regularly come across organisations who believe they are operating compliantly as they have spent large sums of money on contracts; this book shows that a compliant contract is just the tip of the iceberg and does no more than create the right environment. It goes on to explain the detailed processes and procedures that are required to support the contract in order to create a robustly compliant proposition."
Asked why Professional Passport has taken this step Temple said: "The decision was made last year to produce the book as a way to achieve transparency of compliance in the market. All companies claim to be compliant however not all achieve it, until now there has never a been a trusted and transparent reference document to measure compliance. We hope that the publication of this book will help create the much needed benchmark standard. We also hope that the complete transparency will assist the providers to raise the bar of compliance across the sector. HMRC are now stepping up their compliance activity and we see this continuing to increase for the foreseeable future it is therefore essential that providers align their processes and procedures to a trusted standard to minimise the risk to both themselves and their clients. For too long now the compliant and responsibly run umbrella providers have been at a commercial disadvantage as they carry the additional costs of compliant processes; creating transparency in the market helps promote the responsibly run organisations and expose those that fall short."
HMRC commented: "We are aware of the work of Professional Passport and welcome any steps that are designed to improve and increase the level of compliance in the sector."
Anyone that operates in the umbrella market, or is a user of umbrella companies, will be more than aware that this is a constantly evolving and changing market and it is essential that the operating handbook can keep pace with these changes. The handbook is being published in such a way that each chapter can be easily updated as and when required. The book will be produced in a bespoke upmarket binder and subscribers will automatically receive updates as they are produced. It will be a simple case of taking the old chapter out and replacing it with the new. This update process also means that any amendments are transparent and users can review the updates to ensure they bring their own processes and procedures in line.
Commenting on this Crawford Temple said: "We see this handbook as a living document that we will amend and update as areas change. We are certain that many providers will want to engage with us to input and comment on the procedures as the recognised benchmark for compliance in the market. This is the ultimate reference manual and we aim to ensure it can be found on the desk of every senior manager in every umbrella company as well as a copy in the compliance department of every recruitment company and RPO."
The Compliant Umbrella Providers Operational Handbook is designed as an essential operational reference for every umbrella company as well as providing as an essential reference for every recruitment company, RPO and MSP compliance department trying to achieve a greater understanding of umbrella company compliance and avoid the risks and costs associated with non compliance.
The book can be ordered directly from the Professional Passport website at Professional-Passport