Back
Get in Touch Menu

A time for employers to lift their eyes to the horizon

24 March 2014

At long last, the UK appears to be emerging from recession.

In recent months there have certainly been many positive economic growth indicators, however the general business experience is still one of uncertainty about the future.

This said, those employers who have managed to weather the economic storm without laying off large numbers of workers will be pleased that they are best placed to take advantage of the potential upturn by having retained their knowledge and skills base. However, the recruitment market is warming up and now is the time to make sure you can retain your key staff when they might be tempted away by a competitor. A “carrot and stick” approach is often required.

It is important to think about incentives:

  • Do some salary benchmarking to make sure you remain attractive when compared with your competitors.
  • Share schemes can incentivise staff by using the growth potential in the company, without having to find additional cash – and there are still ways of doing this tax efficiently.

On the flip side, make sure your non-compete restrictions and confidential information clauses are tightly drafted, and review your policies and practical arrangements around data security, use of social media, and client satisfaction.

We have seen fewer large scale redundancy exercises since the dark days of 2007-2008. However, many employers have been continuing to review their organisational structure for efficiencies. In some cases this might involve changing terms and conditions of employment or outsourcing certain functions. In other cases it involves carefully scrutinising the contribution and effectiveness of individuals in particular (often senior) roles. The solution may be to move them sideways, or even out of the organisation altogether.

We have helped numerous organisations with all these kinds of activities. If you think any of these strategies may be useful, then please do get in touch with us for an initial no-obligation conversation.

We're here to help
Disclaimer: All legal information is correct at the time of publication but please be aware that laws may change over time. This article contains general legal information but should not be relied upon as legal advice. Please seek professional legal advice about your specific situation - contact us; we’d be delighted to help.
Contact
Matthew Clayton MA LLM (Cantab), CIPP/E
Partner
View profile
Mathew Clayton
Related services
Share this article
Resources to help

Related articles

In depth: The King’s speech & employment law – what you need to know

Employment & business immigration

The newly-elected Labour government has set out its ambitious plans for employment law reform in the Employment Rights Bill, representing “the biggest upgrade to workers’ rights in a generation.” The…

Hifsa O'Kelly LLB (Hons)
Associate, solicitor

General election 2024: what to expect in business immigration

Employment & business immigration

With polling day well underway, candidates from all parties – like the public – await the results of the 2024 general election. We have summarised the pledges of Labour, the…

Klára Grmelová MGR (LLM Czech)
Solicitor

Webinar: Business immigration for employers June 2024

Employment & business immigration

In this free webinar our experienced employment and business immigration lawyers guide you through the critical points to consider when employing non-UK workers. Along with plenty of useful hints and…

Willans
Solicitors
Contact us