The Employment Rights Bill could cost businesses up to £5 billion annually, raising concerns among small businesses. However, with preparation, they can adapt effectively without substantial costs. While the government acknowledges these expenses, it justifies them with potential benefits like better work-life balance and reduced absenteeism.
Key changes, such as reforms to zero-hours contracts and shift work, may significantly impact industries like hospitality and social care. Small businesses are advised to audit their contracts and policies to identify necessary adjustments early, allowing them to make gradual changes and manage costs efficiently.
Senior Associate, Natasha Letchford, has written an article for Elite Business on how to prepare for the new Employment Rights Bill.
Natasha writes: "For some of the changes, such as ‘day 1’ unfair dismissal rights and flexible working, the effect of the changes can be managed by investing time into ensuring that the business has robust procedures which are implemented effectively by managers. Taking the example of unfair dismissal rights, the legislation introduces the concept of an ‘initial period of employment’ of 6 or 9 months, in which an employee can be dismissed fairly."
Read the full article here.
Preparing for the new employment rights bill without breaking the bank (Elite Business)
11 December 2024
