When the $!@# hits the Fan - Bryan Strawser - Bryghtpath LLC - for PMI Minnesota - November 2015
The Value of Risk Management Before It Hits The Fan
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Transcript of The Value of Risk Management Before It Hits The Fan
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THE VALUE OF RISK MANAGEMENT BEFORE IT HITS
THE FANEffective management of
compliance and risk
Your presenters› Matthew Franceschini, Chief Executive Officer› Neil Merola, Chief Commercial Officer
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DON’T UNDERESTIMATE YOUR RISKS
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EMPLOYMENT RISK
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EMPLOYMENT RISK› Distinguishing contractors and employees
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EMPLOYMENT RISK› Distinguishing contractors and employees
› Are your contractors really contractors?
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EMPLOYMENT RISK› Distinguishing contractors and employees
› Are your contractors really contractors?
› Tenure risk
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EMPLOYMENT RISK› Distinguishing contractors and employees
› Are your contractors really contractors?
› Tenure risk
› The contract
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INDUSTRIAL RISK
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INDUSTRIAL RISK› OH&S
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INDUSTRIAL RISK› OH&S
› Fair Work Act
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INDUSTRIAL RISK› OH&S
› Fair Work Act
› Insurance obligations
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REGULATORY RISK
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REGULATORY RISK› Payroll Tax
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REGULATORY RISK› Payroll Tax
› Workers' Compensation
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REGULATORY RISK› Payroll Tax
› Workers' Compensation
› Superannuation
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REGULATORY RISK› Payroll Tax
› Workers' Compensation
› Superannuation
› PAYG Withholding Tax
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THE CONSEQUENCES
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ECONOMIC
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ECONOMIC
ISSUENo super for ABN
CONSEQUENCEAdditional 9% total cost of resource
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ISSUENo Payroll Tax paid
CONSEQUENCEDisaffected clients and contractors. Money lost.
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ISSUEContractor misclassification
CONSEQUENCEApprox. 20% increase in total cost of resource
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BRAND DAMAGE
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PRODUCTIVITY
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FEAR NOT
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EQUIP YOURSELF WITH THE RIGHT PROTECTIVE ARMOUR
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SEEK A SOLUTION THAT OUTSOURCES THE RISK
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A SOLUTION THAT...
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A SOLUTION THAT...› Delivers compliance, not just
talks compliance
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A SOLUTION THAT...› Delivers compliance, not just
talks compliance
› Provides full indemnification
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A SOLUTION THAT...› Delivers compliance, not just
talks compliance
› Provides full indemnification
› Protects your organisation from
economic and reputational risk
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A SOLUTION THAT...› Delivers compliance, not just
talks compliance
› Provides full indemnification
› Protects your organisation from
economic and reputational risk
› Aligns to your organisational
culture and values