Small firm bosses urged to discuss pay

 

Small business owners operating in various sectors across the UK could be among those interested in the recent comments of one industry expert with regard to pay freezes.

Diana Bruce, policy liaison officer at the Chartered Institute of Payroll Professionals, has urged bosses to communicate with their employees and reassure them as pay continues to freeze across the UK.

Recently-published figures from the Office for National Statistics have revealed that the growth of average annual earnings stalled in November last year, remaining unchanged from 2.1 per cent in the previous month.

Ms Bruce said it is “absolutely vital that employers communicate with employees” about why pay freezes were remaining in place.

“If they are not going to have any monetary motivation, then communicating the reasons why is vital, because employees are going to be hit with National Insurance increases and the VAT increase in their personal spending,” the expert added.

Posted by Thomas Fletcher via Tax Assist Accountants.