After a 4-year freeze, the Hong Kong Executive Council endorsed the Minimum Wage Commission’s recommendation on 10 January 2023 to raise the statutory minimum wage by HK$2.5 to HK$40 per hour, representing a 6.7% hike. Subject to the approval of the Legislative Council, the revised rate will come into force on 1 May 2023, the Labor day.
This article looks at recent important issues in labor law for UK employers.
ESG issues are playing an ever-increasing role in businesses and have an impact right across the employment, retirement benefits, tax, executive compensation and share incentives space. This trend of growing focus is expected to continue into 2023 and beyond. As such, when designing and reviewing compensation and benefit packages, it is increasingly important for companies to do so with its ESG strategy in mind.
This article discusses issues such as falling share prices in response to labor disputes, “living wage” resolutions at AGMs, stakeholder concerns over working conditions in supply chains, and workers speaking up about their employer’s culture and ethics, which potentially engage the EU’s new sustainability reporting duty.
The Home Office (United Kingdom) has updated its sponsor guidance to incorporate recent changes to immigration rules as well as some other changes to the guidance. In this article, learn about these employment changes to ensure compliance.