I. 4 Human Relations (HR) matters

There are many processes, considerations and legal matters to consider regarding your workforce.  Many of these are covered in Section F, Employees.

I.4.1 Matters for immediate consideration:

  • People requirements over the initial period.
  • Structure of employment contracts in relation to the company.
  • Pay and bonus structure.
  • Recruitment process – Give consideration as to how to attract people, advertising, employee find employee incentives, and suitable agencies or social networks. It is good practice to ensure those seeking employees are aware of the rules surrounding restrictive covenants in employment contracts (See Section F).
  • Legal requirements around confirming an applicant’s right to work in the UK.
  • Define interview process and selection criteria – take account of Employment Law and good practice around diversity and inclusion. It is good practice to provide training or guidelines to anyone formally recruiting for roles or in some circumstances create a bank of ‘authorised recruiters’ who are kept up to date with ongoing legislative requirements and good practice.
  • Source numeracy, literacy and psychometric tests if required.


It is good practice to have defined HR documentation and company policies in place once employees are recruited and there are online templates available for this purpose.  A start-up broker might want to consider having in place the following:

  • Employee handbook detailing – expected behaviours; disciplinary processes; holiday entitlement and pension information; parental leave and flexible working; absence policy; training and performance management; expenses policy etc.
  • Interview form or process
  • Appraisal form or process
  • Induction Check List and probation process e
  • Holiday and Sickness forms or process
  • Workstation health and well-being checklist
  • Expenses forms

I.4.2 Training and competence

As a regulated industry, training and competence can be key in a broker’s organisation. At the outset a firm may want to consider:

  • A defined training structure;
  • Putting a training programme in place; and
  • Selecting an online training and competence tool: BIBA members have preferential rates to use Broker Assess the CII’s online training solution


I.4.3 Payroll benefits and pensions

Depending on its size a firm may want to outsource payroll either to a specialist provider or in some circumstances to your accountant.  They will also need to check the requirements of pensions auto- enrolment, select a pensions provider and consider other enhanced employee benefits.  All employee rewards and benefits will need to be defined and budgeted.