• 01616 966 229
  • Request a callback
Stephensons Solicitors LLP Banner Image

News and Events

Employment law for fintech companies

View profile for Philip Richardson
  • Posted
  • Author

To be a best practice employer, particularly in a fast-growing fintech company, it's crucial to have robust legal employment practices and policies in place.

Often it can be difficult to keep up with what is legally required in a fast-growing company and sector. Fintech companies often have employees working according to different contracts and remotely all of which can prove challenging from compliance and performance perspective. Here are some points that need to be considered:

Equal employment opportunity policies

Implement policies that ensure fair treatment and equal opportunities for all employees, regardless of their race, gender, age, religion, sexual orientation, or disability.  We can assist with the drafting of a policy or review existing policies.

Employment contracts

Ensure that every employee has a written employment contract outlining their terms of employment, including job duties, compensation, benefits, and termination procedures. Is it important to have legally binding contracts tailored to the specific needs of your fintech company.

Data protection and privacy policies

Given the sensitive nature of financial data in fintech companies, it's essential to have strict data protection and privacy policies in place to comply with regulations such as the General Data Protection Regulation (GDPR) in the UK. We can assist with policies to protect both employee and client data.

Health and safety regulations

Comply with health and safety regulations to ensure a safe working environment for employees. This includes conducting risk assessments, providing adequate training, and implementing safety protocols. As a company grows it may move premises and it is important that health and safety is reassessed.

Employee benefits and leave policies

Establish comprehensive policies regarding employee benefits, such as healthcare, pensions, and paid time off, as well as procedures for parental leave, sick leave, and other types of statutory leave. This is important as it sets the basis and clear understanding for employees and the business. This can be hard to keep up to date as there is frequent updates to employment legislation. From April 2024, there will be a wealth of change in some of these areas, read more about these changes here. 

Disciplinary and grievance procedures

Implement clear procedures for handling disciplinary issues and employee grievances, including investigation processes, disciplinary actions, and avenues for appeal.  We can assist ensuring risk is minimised to the employer.

Remote work policies

With the increasing prevalence of remote work, especially in the wake of events like the COVID-19 pandemic, establish policies governing remote work arrangements, including expectations, communication protocols, and cybersecurity measures.

Training and development programs

We provide bespoke training, the topics include:

  • Equality, diversity and inclusion
  • Performance management
  • Sickness absence management
  • TUPE and restructures
  • Exits and settlement agreements
  • Compliance and GDPR

By the end of the training, participants will have a comprehensive understanding of key employment law topics, empowering businesses to make informed decisions and mitigate risks effectively.

Employment law specialists play a crucial role in helping fintech companies navigate the complex legal landscape of employment regulations. We can provide expert guidance on developing and implementing policies that not only comply with the law but also promote a positive work environment and mitigate legal risks. Some companies chose to subscribe to our fixed price employment law packages .We keep you up to date with the latest legislation and its impact on your business. If things do go wrong we'll prepare your case and represent you in court or tribunal – a source of comfort in view of the growing 'compensation culture', or alternatively we can advise on a case by case basis. Call us on 0161 696 6170.