Rising costs force businesses to examine the choices they make in employment

According to the British Chambers of Commerce (BCC), the National Living Wage, Apprenticeship Levy and pensions’ auto-enrolment could lead to reduced opportunities for investment and wage growth because of the increased cost for businesses.

The annual survey interviewed 1,400 businesses and a fifth of businesses complained that the apprenticeship levy was forcing up costs. 75% reported an increase in costs as a result of pensions auto-enrolment.

The changes to employment legislation were designed to help improve wages and prospects for workers, but the BCC is concerned that high employment costs will have a negative impact on employees stating that businesses are under increasing pressure from the burden of employment costs which is likely to influence the choices they make and outcomes for employees.

The government has announced the minimum automatic pension enrolment contributions will increase to 5% in 2018 and 8% in 2019.

This entry was posted in Blog. Bookmark the permalink.

Comments are closed.

The 121 HR Business Partnership is at the heart of the relationship with our clients.

The partnership brings the benefits of cost-effective HR support and professional advice without the worry of escalating legal fees when issues arise.

 

Find out more...

121 HR Business Manager is a professional HR service provided to businesses on an outsourced basis. Each business has different needs, therefore we tailor our service and approach to fit perfectly with your organisation.

 

Find out more...

121 HR Solutions provide a comprehensive range of HR services that can be accessed through the Business Manager package, or more commonly on a short-term project basis. This is useful to organisations that do not employ full-time HR staff and lack the knowledge and skills required.

Find out more...

Powered by The Logic of Eight - Creative Media