Knowledge And Utilisation Of Employment Law Underpins Life For Modern SMEs
Employment law may represent a stern challenge to businesses who find themselves battling to remain at the forefront of their own industry, but adhering to employment law can provide all firms with impetus and better working practices that will positively impact on the workforce and the workplace.
One of the biggest challenges that companies face today is retaining their qualified and skilled staff members. A high proportion of SME companies across the United Kingdom feel as though they can no longer compete with the high wages offered by leading companies both at home and abroad. This means that some firms believe it is no longer worth the time and effort to train and develop staff members, only to see them being poached by predatory firms in their industry. This outlook will only lead to difficulties and a dearth of talent in the long-term, so it is crucial for businesses to create the best working environment for their employees. Even if a firm cannot compete with respect to finances, they may be able to create a working environment that nurtures and rewards talent and effort in a number of ways.
SMEs need to provide a strong range of benefits to employees
This is where having a strong and experienced HR department, fully conversant in employment law, can make a massive difference. Money is obviously important but finding a happy workplace where you don’t have to worry about personal safety or intimidation at work can be a massive attraction for many employees. A highly skilled HR department enables a business to challenge their employees, create proper career progression paths and will ensure that any gaps in the workforce or individuals can be recognised and rectified earlier.
The benefits of an effective HR department isn’t just about retaining the quality staff that you already rely on, it can help you to supplement this experience with the best new talent for your firm. Whether your HR department has identified skill gaps in the workplace or your business has recognised potential growth areas, being able to outsource or attract the best outside talent to your business will make a massive difference in your ability to grow and develop.
HR departments can push for progress or minimise risk
Of course, while some firms like to grow and imagine themselves becoming as big as possible, other firms will focus on minimising their risks and ensuring that they don’t move backwards. Businesses are like people, they have different personalities, different outlooks and different aims. However, no matter whether your business aim is to grow or not shrink, adhering to employment law will underpin all of your aims and ambitions. If one of your main fears about your business is opening yourself to risk and potentially harming your business, taking a “safety-first” approach is possible and in fact, sensible.
In the end, it may be that the most enduring reason for properly adhering to employment law is the fact that it is likely to save your business from a considerable amount of hardship and potential ruin. The old saying about “prevention being better than the cure” rings true in many aspects of modern business and it is certainly the case when it comes to employment law.
Taking a preventative approach to employment law will significantly minimise your exposure to problems and difficulties in the workplace. This will give you confidence in taking the business forward but it also means that employees should have a greater degree of confidence in their position within the company. Morale has always been a crucial component of the workplace and in the modern era with so many firms struggling to provide additional financial incentives for employees, there is a need to provide workers with additional benefits or incentives for choosing to work and stay with a firm. Proving that you are a company that takes employment law and working practices seriously will put all employees at ease with respect to the way that they will be treated and what they are asked to do in the workplace.
Modern day businesses need to present as strong a package to their employees as possible and presenting a unified workplace that is operating fully within the rules and regulations of employment is a major benefit for many employees.