Corporate Governance as an Investment: Tergum

Q: How does Tergum add value to companies and what kind of clients does the firm advise?

A: Tergum adds value through personalized consultancy services regarding tax, labor regulations and corporate matters. We advise entrepreneurs through our multidisciplinary, up-to-date team comprising experts in different areas. We focus on satisfying all of our clients’ needs and in helping companies safeguard their wealth and comply with the law.

Tergum has clients in every business sector, from airlines to sports teams and other law firms through partnerships. A robust structure and expertise enable us to create the necessary synergies to counsel clients from diverse sectors.

Q: As an expert in corporate governance, what best practices ensure a healthy and sustainable business?

A: Structure is essential in companies, which should see corporate governance as an investment rather than an expense. Good practices such as a well-integrated corporate governance structure, can protect companies and their assets.

Equal treatment, respect and protection for each employee and partners, encourage an effective company. There must always be an honest, responsible and transparent management of a society.

Also, it is very important to create or strengthen a risk, vigilance, planning and legal compliance committee to avoid contingencies. Always a correct and careful management of resources will generate positive results

Both legal entities and individuals must take the fulfillment of obligations into account. For instance, tax regulations are constantly changing and there is a reform plan for 2022. Tergum is already prepared for the 2022 changes.

Corporate governance aims to help companies maintain healthy finances while protecting their assets. The Business Coordinating Council considers corporate governance as a key factor for companies to be successful.

Q: How has Tergum supported companies in complying with new labor standards, such as the elimination of outsourcing?

A: The reform that eliminated outsourcing in Mexico has forced companies to update, obtain a Registry for Providers of Specialized Services and Specialized Works (REPSE) and comply with the Outsourcing Information System (SISUB) and the Information of Contracting Specialized Services or Work (ICSOE) imposed by INFONAVIT and IMSS; regulations that Tergum has advised and continues to guide all those companies in need.

Adapting to this reform was not easy for companies. Tergum has helped many companies through the process, which did not only require them to rehire workers under the new scheme; they also had to complete an employer substitution as the reform demands

Q: What impact has the Labor Reform had on the services provided by Tergum?

A: The Labor Reform implies that employees work for the companies that hired them instead of a third party. We also advise companies looking to outsource specialized services, which has  become harder due to the obligations that both the contracting and contractor parties must meet.

The changes in our legislation caused many doubts in the business sector; situation that allowed Tergum to potentiate its labor advisory services, generating a business opportunity for us.

Q: USMCA has influenced unionization in Mexico. How does Tergum stay up to date regarding international law?

A: At Tergum, we constantly monitor other countries, the International Labor Organization and the OECD’s recommendations to gather new criteria and fresh information for our clients and collaborators.

The international reforms generated a restructuring to the unionism.  The changes aim to uphold democracy within unions and avoid impositions on both companies and workers. Unions must gain the trust of workers through a democratic, free, individual and secret vote. Employees now have the right to join the union they consider the best fit for them, rather than being forced to join.

Tergum Consejería Empresarial is a Mexican consultancy specialized in taxes, corporate governance, labor affairs and executive training. It is also part of CLAUZ.