On the front page this week is the macro-raid on the four big consulting firms known as the “big four”. Learn in this article about the Big Four’s macro raid and how to turn mistakes into business opportunities.
What Happened to the Big Four?
The recent operation carried out by the relevant authorities has been dubbed a “macro-raid” and its main objective was to investigate the four large consultancy firms known as the “big four”. r”. These companies are recognised worldwide for their extensive experience and expertise in the field of consultancy in areas such as accounting, auditing, financial consultancy and business management. This inspection, which has surprised many in the Big Four, focuses on the recording of working hours and overtime of the employees of these companies. There are those who anonymously testify that working hours exceeded beyond what is permitted by law.
It should be noted that the “big four” have Corporate Social Responsibility (CSR) plans that allude to the importance of talent and of the people who make up the organisation’s workforce. However, it is important to remember that compliance with legislation should be the starting point for any CSR plan, which dictates, taxonomically, that a worker cannot work more than 9 hours a day.
There are those who anonymously testify that working hours were exceeded beyond what is permitted by law
Pending the sanctions (if any) imposed by the Labour Inspectorate, this situation reminds us that there is often a big gap between what is presented in companies’ CSR plans and the day-to-day reality of employees It is in this type of situation that it is essential to have an HR department that is capable of rectifying mistakes and correcting, adapting and building in the face of unforeseen events of this type.
Exceeding daily hours, as well as misrepresenting working hours and overtime, not only has legal repercussions, but also represents unfair competition for those companies that do comply with labour regulations and have real people management policies and plans. Companies need to take social responsibility and labour compliance seriously to ensure a fair and equitable environment for all workers and companies.
Consequences of Overworking
From the workers’ point of view, working overtime can lead to physical and mental exhaustion, which can increase the risk of stress-related illnesses such as high blood pressure. It can also negatively affect their personal and family life, leaving them less time to spend with loved ones and to pursue hobbies.
From a business perspective, allowing employees to work overtime can increase the risk of workplace accidents and reduce efficiency and performance.
Exceeding daily hours not only has legal repercussions, but also represents unfair competition
The Importance of Compliance
Compliance with labour regulations is essential to ensure that employees work under fair and safe conditions. This ensures the well-being of workers and, in turn, contributes to a healthy and prosperous society. In addition to financial penalties, non-compliance with labour regulations can also have negative consequences for the company’s reputation and can affect employee morale, leading to lower productivity that would ultimately affect the company’s performance.
On the other hand, it is important to stress the importance of complying with Corporate Social Responsibility (CSR) plans as presented to employees. CSR is a commitment by companies to act ethically and contribute to sustainable development. However, if companies do not comply with the CSR plans they have submitted, they may also be subject to criticism and loss of trust from employees, customers and society at large.
In conclusion, compliance with labour regulations and CSR plans are essential to ensure a fair and safe working environment for employees and to preserve (and even boost) the company’s reputation. Companies need to be aware of the economic and reputational consequences that can arise from non-compliance with labour regulations and failure to meet their CSR commitments.
CSR is a commitment by companies to act ethically and contribute to sustainable development.
How AgioGlobal Can Help You
At AgioGlobal, as experts in human resources, we understand the importance of the responsibility we have as a company to take care of our employees, guaranteeing them conditions based on respect for their personal lives beyond the performance of their work. Also, to emphasise that complying with labour regulations and CSR plans is not only a legal obligation, but also a great opportunity to improve efficiency in people management, exploring the behaviour of talent and productivity in relation to the time invested, since, often, less is more.
At AgioGlobal we offer labour compliance advice and services to help companies comply with regulations and implement ethical people management practices. If you are seeking to improve your company’s corporate social responsibility, don’t hesitate to contact us. Together we can work to create a fair and sustainable working environment for all.