Workplace Solutions: What's stopping employers letting their staff have it all?
27 Jul 2016
With every employer in the UK having to offer a benefits package by 2018, the role of business advisers to ensure quality pension schemes and wider benefits are in place will be critical, says Tom Nall
Regulatory changes in the UK - namely the National Living Wage, the apprenticeship levy and auto-enrolment - are making it harder for employers to keep salaries rising in line with Bank of England expectations. With inflation now near-zero and low levels of unemployment, there are significant downward pressures on wages.
The National Living Wage, introduced in April 2016, sees eligible employees now paid at least £7.20 per hour, with a target to raise this to £9 by 2020. More than 50% of employers expect to be impacted, according to a recent Chartered Institute of Personnel and Development (CIPD) survey, and, understandably, employers will be assessing the impact an increased wages bill will have on their businesses.
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