Members’ Newsletter
June 2026
Message from the CEO
Dear member,
Our pre-budget submission will be published later in the month. The focus of this year’s pre-budget is very narrow, and is to introduce the tax and spending packages necessary to deliver on our Indigenous Enterprise Policy which we published in March.
Worryingly, a definitive end to the conflict in the Gulf is not yet in sight. This could have very significant implications for energy prices in the short to medium term, and is likely to have far wider impacts, including on food prices, if we do not have a peaceful resolution soon.
This month we have seen the Society of Actuaries Report which showed that whiplash awards in Ireland remain dramatically higher than in the UK, with the gap most pronounced for shorter duration injuries. For a whiplash injury that clears up within three months, an Irish claimant can expect an award of €1,750, compared with just €281 in England and Wales, a difference of 532%.
Even at the upper end of the scale, where an injury takes up to two years to resolve, Ireland's award of €9,000 is still 82% higher than the €4,932 in England and Wales. They introduced a statutory whiplash tariff in 2021 that set fixed payments based on how long injuries lasted, with no associated legal costs. There is clearly more work to be done on insurance reform.
While ISME has asked Minister Foley to consider an extension to the timetable for delivery of the Pay Transparency Directive, this has not come to pass. You need to ensure your business takes steps to comply with the directive, and thanks to Sinead and Anna-Marie, you’ll find an FAQ page on the directive on our HR Hub.
Don’t forget our next Leadership and Networking Forum takes place on Wednesday, 24th June at the Clayton Hotel Cork City from 8:00am–11:30am. The content will be excellent, and we’re looking forward to seeing as many of you as possible there.
ISME events
Join us in Cork for the next stop in our Leadership & Networking Forum
After a highly successful stop in Dublin, we are now coming to Cork for the second stop in our Leadership & Networking Forum on Wednesday 24th June at the Clayton Hotel, Cork City from 8:00am-11:30am.
In partnership with Jobs.ie, this event series is designed to bring practical insights, expert advice, and meaningful connections directly to SMEs across Ireland.
Start your morning with valuable discussions, networking opportunities, and actionable takeaways.
Bring along your colleagues, clients, or fellow business owners, and don’t forget to secure your free spot below.
Breakfast and refreshments will be provided
Click here to see the agenda and register for free.
Join us for the upcoming ISME Business Advisory webinar with Fexco
ISME are delighted to introduce this Business Advisory Webinar, featuring keynote speaker John Barry, Payments & FX Consultant at Fexco on the topic ‘How Irish SMEs are cutting FX costs using forward contracts- and how you can too’
Sharp swings in exchange rates can quietly erode margins long before an invoice is paid or a payment is received. In this webinar delivered by John Barry of Fexco International Payments , discover how Irish SMEs are using forward contracts to lock in certainty, protect cash flow, and plan ahead with greater confidence.
You will learn how businesses like yours are
• reducing FX exposure
• improving cost predictability
• avoiding being caught out by currency volatility
Date: Thursday 11th June 2026, 10.00am- 11.00am
Register here
ISME news
EU Pay Transparency Directive
All EU member states, including Ireland, are required to implement the EU Pay Transparency Directive by 7 June 2026. The directive is designed to reinforce the principle of equal pay for equal work and work of comparable value. Its introduction will bring substantial changes to pay and compensation governance, with the broader aim of promoting greater fairness, equity, and accountability throughout the business environment.
With the implementation deadline approaching quickly, many organisations are starting to evaluate how these major changes will impact their operations, including the additional implications for Gender Pay Gap reporting requirements (this reporting is also based on a snapshot date in June and reported by employers with 50+ employees).
The Department of Equality has said that work is continuing on the legislation required to fully transpose the EU’s Pay Transparency Directive but acknowledged the required measures will not be fully completed by the June 7th deadline, and so implementation will happen on “a phased basis”. They advised that ‘employers will not be penalised for not having all elements of the directive completed in June 2026 and the department will be working with stakeholders to communicate this message’.
Here at ISME, we have prepared a FAQ document to assist members in their preparation for Pay Transparency. Access the FAQ sheet here
SMEunited discusses SME-friendly policy with President von der Leyen
SMEunited has called on the European Commission to put small businesses at the centre of EU policymaking, stressing that micro-enterprises make up 94% of businesses across Europe. Following a meeting with Commission President Ursula von der Leyen, the organisation urged policymakers to apply the “Think Small First” principle in all legislation and to simplify regulations for SMEs.
SMEunited also highlighted the need for affordable energy, a stronger Single Market, and dedicated SME support in the next EU budget. Additionally, it has requested a temporary pause in implementing the Pay Transparency Directive to give SMEs more time to prepare.
Read the full article here
ISME news
Reach Ireland’s SME Decision Makers in 2026!
Put your brand in front of over 15,000 Irish SMEs and key business leaders through The bISME the official business magazine of ISME, Ireland’s leading independent association for small and medium enterprises. The bISME combines highvalue editorial with trusted insights across sectors like retail, manufacturing, services, construction, transport and more and every issue is emailed directly to business owners and promoted online.
Download the spec here or email marketing@isme.ie for more information
ISME HR Hub – your HR support
To support Members to deal with the ever-changing world of HR and employment law, we have created a portal to give you access to guides, templates, contracts, policies and more to support you in managing HR in your business. We have curated the information based on the HR Life Cycle: Attraction, Recruitment, Onboarding, Policies & Training, Performance Management and Exit
You can also find information from government agencies and other third parties in our General Information & Resources page, links to the top downloads and view our selection of blogs including Statutory Sick Pay FAQs and EU Directive on Transparent and Predictable Working Conditions.
To find out how it works and looks, click on the video about the portal here. To use the ISME HR Hub log into the Members Area, click on the top left button.
ISME news
Streamlined Funding Access for Irish SMEs with ISME Finance Finder
The ISME Finance Finder, developed in partnership with Swoop Funding, is an online platform designed to streamline access to finance for Irish SMEs. It offers a centralized solution for businesses seeking funding options to start, expand, improve cash flow, refinance debt, acquire assets, or invest in new markets.
Additionally, businesses can avail of a complimentary 30-minute one-on-one consultation with Swoop's funding experts, offering confidential and obligation-free advice.
For more information or to begin your funding journey, visit the ISME Finance Finder.
Your views to shape the future of SEAI’s Energy Academy
SEAI is seeking feedback from Irish SMEs to shape the future of the Energy Academy.
Would you be free & able to take part in a 1-hour online research session during the week starting the 18th May 2026? If so, please complete this form Expression of Interest to Join SEAI Stakeholder Research – Fill in form at your earliest opportunity and by close of business on Wednesday 12th May.
Note: You don’t need to have any prior knowledge of the SEAI's Energy Academy to add value to our research.
What is the Energy Academy?
The SEAI Energy Academy is our free online learning platform, offering expert-led courses designed to help businesses understand and take practical action on energy efficiency and decarbonisation. As we update the platform this year, our focus is on making it more relevant, actionable and aligned with the needs of Irish SMEs.
When sessions will take place:
Online, week commencing Monday, 18th May. Participants can take part in one of the following:
• Focus groups (1–1.5 hours): to explore shared needs and priorities
• 1:1 interviews (45–60 minutes): to understand individual experiences in more depth
ISME news
Health & Safety Authority Update
❑ Workplace Occupational Safety and Health Training (HSA Resources): Employees require Occupational Safety and Health (OSH) training at different points in time. Providing comprehensive occupational health and safety training for staff is essential to fostering a safe and healthy workplace environment. The provision of training helps reduce the risk of work-related injuries and ill health. This page provides links to information including the employee OSH learner journey, workplace OSH training requirements and approach, tips for procuring training, training providers, hsalearning.ie and more.
❑ Code of Practice: Safe Use of Industrial Trucks: This Code of Practice provides practical guidance on compliance with legislation related to the use of rider operated industrial trucks in all workplaces.
❑ Driving for Work: Risk Management Guidance for Employers: This guidance document has been jointly developed by An Garda Síochána, the Health and Safety Authority and the Road Safety Authority to help employers understand and manage the main risks that working drivers face and create when driving for work.
❑ Annual Review of Workplace Injuries, Illnesses and Fatalities 2022–2023 report presents the Annual Review of Workplace Injuries, Illnesses, and Fatalities for 2022- 2023. In preparing this report, we recognise the importance of providing reliable and up-to-date statistical information as an evidence base for decision-making.
❑ A Short Guide to Health Surveillance in the Workplace aims to assist employers and health professionals working on their behalf in understanding their legal requirements regarding health surveillance in the workplace. It also highlights the key elements to consider when implementing a health surveillance programme.
❑ Employing Apprentices: Safety On the Job information sheet is written for people who employ apprentices. It provides a summary overview of how employers should fulfil their duties as an employer and protect apprentices, who may be more at risk of injury and ill health.
❑ Safety On the Job for Apprentices- This information sheet is written for Apprentices. It provides some essential tips to help Apprentices stay safe and healthy as they start their career.
Market Updates
What’s happening in foreign exchange markets?
Key events that influenced foreign exchange markets in May
• The United Nations cut its forecast for global economic growth, saying the Middle East crisis had reignited inflationary pressures and heightened uncertainty - Global GDP growth is forecast at 2.5% in 2026, compared with an estimated 3.0% in 2025, 0.2 percentage points below the January projection
• The release of the US Fed minutes showed that a majority of US Federal Reserve policymakers indicated that interest rate hikes could be needed if inflation continued to run persistently above the central bank's two-percent target
• The US economy created 115,000 jobs in April as businesses kept hiring despite the economic fallout from the war in Iran. The increase was stronger than expected, with the total almost twice as much as economists had forecast.
• The annual inflation rate in the Eurozone reached 3% in April, an increase from 2.6% registered in March
• Yields on 10-year and 30-year UK government bonds rose to their highest levels in decades, amid political and fiscal policy uncertainty
What data and factors could impact the major currencies in June?
• Tuesday June 2nd – Eurozone CPI
• Friday June 5th - US Nonfarm Payrolls employment data
• Thursday June 11th - ECB interest rate decision
• Wednesday June 17th – US Fed interest rate decision
• Thursday June 18th – Bank of England interest rate decision
• Thursday June 25th – US GDP
As an ISME member, you have exclusive access to Fexco’s dedicated account manager John Barry, who will help you with all your foreign exchange requirements
• Reduce your cross-border payments costs
• Protect your business from currency volatility
Discover the benefits to your business without an obligation to trade!
HR Updates
Seasonal Workers
A seasonal worker is a person who, for a limited period, works for a seasonal operation which is frequently found in the horticultural or agricultural sector. Other sectors, such as tourism and construction, are also included. Employees placed by an agency to carry out seasonal work are also in this category.
Workers on seasonal work patterns have full access to the employment law provisions and to the terms and conditions of employment that employees are guaranteed under the law in Ireland.
This includes the issuing of a contract of employment within 5 days of commencing employment. Due to the seasonal nature of a role, a fixed term or specific purpose may suit the working relationship best.
A fixed term contract is issued with a defined start and end date while a specific purpose contract is used for a project and concludes when the contracted project is completed.
Below are some key points to consider when hiring different categories of seasonal workers:
Public holidays
–
During any employment period, an employee recruited for a set period holds the same entitlement to public holiday benefits.
For part time employees, if the holiday falls on a day they normally do not work, to avail of an additional benefit, they must work at least 40 hours in the 5 weeks ending the day before a public holiday.
For full time employees, they are entitled to the same public holiday entitlements from their first day of employment.
Under 18’s –
During school holidays, those who are under 18, can be employed however there are restrictions based on their age which must be followed.
The recruitment of those under 18 is governed by the Protection of Young Persons (Employment) Act 1996.
The Act defines a child as "a person who is under 16 years of age or the schoolleaving age, whichever is the higher"; and defines a young person as "a person who has reached 16 years of age or the school-leaving age (whichever is higher) but is less than 18 years of age".
HR Updates
Employers are legally required to display an abstract of the Act, a poster version can be downloaded from the ISME HR Hub
The WRC has outlined the regulations based on age including working hours and minimum rate of pay here.
There is a special code for recruiting under 18’s to a Licensed Premises including receiving written permission from their parent. The full code can be reviewed here: Code of Practice - Employment of Young Persons in Licensed Premises
Right to Work –
Non-EEA Students holding a current Immigration Stamp 2 are permitted to work 20 hours per week during term time and 40 hours per week during vacations. For full transparency on what is viewed to be “vacation”, the WRC provides clear guidance on the rules and regulations of these working hours.
Summer vacation is from 1 June – 30 September with Christmas/Winter vacation from 15 December – 15 January each year.
There are exceptions for recent graduates who may have extended permissions on their stamp 2 permit.
It is important to note students are not permitted to work as taxi drivers either as employees or in their own right as holders of a taxi licence in their own name and may not engage in self-employment.
Annual leave –
During shorter contracts, employees continue to accrue annual leave. This entitlement can be aligned to the company policy or the minimum entitlements outlined in the Organisation of Working Time Act.
Employees should only receive payment for their annual leave when they are either on a period of annual leave or if they have any accrued untaken leave at the date of termination.
Annual leave should never be paid as part of an employee’s standard weekly wage or be calculated for the purposes of an employee’s rate of pay.
If perhaps you require any HR assistance for your business don’t hesitate to contact the HR Team via HR@ISME.ie , or alternatively phone 01 6622755 Option 2.
Learning & Development
The ISME Skillnet service is here to help both the business owner and their employees.
ISME Members can receive up to 40% discount on ISME Skillnet training, view courses below.
MS Excel Introduction
Business & Email Etiquette
Income & Corporation Tax Training
Tuesday 16th June, View Course
Wednesday 17th June View Course
Tuesday 23rd June View Course
MS Excel Advanced Wednesday 24th June View Course
Effective Telephone Sales Wednesday 15th July View Course
Managing and Growing a Small Business
HR Bite Sized Essential’s
SCAN THE QR CODE TO FIND THE FULL LISTING COURSE
Tuesday 28th July or Thursday 17th September View Course
Tuesday 8th September –Tuesday 17th November View Course
