Poor understanding of HR law putting SMEs at risk, says Monahans Business Bureau
Primary research commissioned by Monahans Business Bureau reveals that small and medium enterprises (SMEs) across the South West of England do not fully understand changing employment legislation.
The study was conducted by MHA, the UK association of accountancy and business advisory firms, in the second quarter of 2013. The sample comprised of organisations who have between 3 and 120 employees in the manufacturing, technology, distribution, charity and education sectors.
Respondents were asked what impact developments in HR legislation would have on their employee relations and their wider businesses. Among the findings were some statistics that the government may find alarming:
- 74% were unaware that the amount of leave parents can take unpaid has risen from 13 to 18 weeks
- 78% believed that changes in employment law had no impact on their business in the last 12 months
- 63% don’t believe that changes in employment legislation in the coming 12 months will impact on their business
- 91% were not aware that they can contribute to the debate about changes in employment legislation. Only 2.25% that were aware did so using forums as their platform
- 52% were unaware of proposals permitting employers to have “protected conversations” with employees with a view to terminating employment
The government wants to encourage businesses to comment on red tape, with employment legislation seen as a key topic. However, as, the study showed, more than nine out of ten businesses do not feel able to engage.
Commenting on the research findings, Peta Fry, HR Director of Monahans, said, “It is clear that communication with SMEs regarding changes in employment legislation is an issue. We understand that it’s hard for businesses to keep up to date with legislation changes and identify what is relevant to them. That’s why, at Monahans, we issue quarterly newsletters and ad-hoc alerts, informing clients of changes in legislation that apply to their business.”
Monahans is one of the largest independent chartered accountancy groups in the west of England. The firm, which also incorporates Monahans Financial Services and Monahans Accountancy Services, provides a full range of accountancy, tax, investment and insurance services to businesses and private individuals.
Monahans has offices in Bath, Chippenham, Glastonbury, Swindon and Trowbridge.
For further information on Monahans Business Bureau visit www.monahansbusinessbureau.co.uk or call 0845 319 3030.
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If you would like to view the original research referred to within this release please do get in contact maria@redheadpr.co.uk
Editorial contacts:
Maria Bretti
redheadPR
Tel: 07854 819 213
Email: maria@redheadpr.co.uk
Monahans – Backgrounder
Monahans
With 17 partners and a total staff of around 120 across its offices inBath, Chippenham,Glastonbury,Swindonand Trowbridge, Monahans is one of the largest independent chartered accountancy groups in the west ofEngland. The firm, which also incorporates Monahans Financial Services Ltd, provides a full range of accountancy, tax, investment, insurance and human resource services to businesses and private individuals:
Accountancy Services, available to all types of organisation including limited companies, partnerships, sole traders, charities and trusts. Services include full production of accounts, tax computations, book keeping and a management accounts function.
Audit Services, providing independent confirmation of clients’ accounts, adding credibility in the eyes of third parties.
Business Recovery and Insolvency, helping both businesses and private individuals understand their options and make informed choices.
Business acquisition and disposal, maximising the value and tax efficiency of the sale of businesses and helping clients research, initiate and conclude purchasing opportunities.
Elite Payroll Service, taking the hassle out of this time-consuming, yet crucial financial function. Monahans is a BACS Approved Payroll Bureau and handles payroll procedures to the value of more than £4 million every month.
Employee Benefit Services, a range of employee benefits designed to help clients attract and retain the best people. Benefits include pensions, death in service schemes, private medical insurance and eye tests, retirement options, childcare vouchers and cycle to work schemes.
Forensic Accounting. Acting as an expert witness, expert adviser or expert determiner, Monahans offers extensive and in-depth experience in dispute processes.
HR Solutions, offering ad hoc support as and when required or acting as the client’s in-house human resources department. For full information on the HR services offerd please visit http://www.monahans.co.uk/services-humanresource.asp
IT Services, a range of business and finance-aligned IT advisory services and software solutions. Monahans provides management information systems, specialist reporting, database development and admin and management training.
Strategic Business Improvement, including strategic and financial planning and a business development consultancy.
Integrated Tax Services, helping businesses, trusts and individual clients understand the complexities of theUK and international tax systems and minimise tax liabilities within the legal framework.
Monahans encourages its staff to think creatively and, through a structured support system, has created an environment in which people can develop their skills and further their careers. As well as an ACCA (Association of Chartered Certified Accountants) Gold Award for the quality of training it provides its trainees, Monahans has been awarded ACCA Approved Employer – Professional Development status.
