Research from the Federation of Small Businesses (FSB) reveals that small firms are scaling back job opportunities amid fears regarding potential legislative changes to unfair dismissals and higher sick pay costs. The data indicates that a significant number of small employers are expecting to reduce staff, with only a fraction planning to hire. Labour costs are perceived as a major hurdle for business growth, and the forthcoming Employment Rights Bill has led to widespread anxiety, with small firms fearing its impact on hiring practices and overall economic stability.
The figures speak for themselves - plans to allow employees to sue their employers on their first day on the job will wreak havoc on our already fragile economy, while changes to Statutory Sick Pay will make employers think twice about their hiring plans.
Fifty-one percent of small employers say labour costs are one of the greatest barriers to growing their business, and with upcoming potential changes, fears are heightened.
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