Beg, borrow....

So, it seems the UK Labour government might be about to drop a little surprise in the form of a national insurance hike for businesses. Now, while I don't have access to Rachel Reeves' secret budget files (I imagine they’re kept under lock and key somewhere), I am concerned that this move could seriously rattle an already shaky job market. My worries may very well fall on deaf ears, given that the ink is probably dry on this part of her October budget, but here’s my plea for a dose of common sense from companies.

If the hike happens, don’t knee-jerk into hiring only contractors or – heaven forbid – through umbrella companies (which, let’s face it, just dumps the NI burden onto the worker). There’s not going to be a long queue of candidates willing to pay that extra price, on top of all the other taxes they’ve got to navigate. Hiring managers, don’t devalue the role and throw a wrench in the works.

Instead, payroll teams and finance directors, I’m looking at you – start thinking smarter. I get that the NI increase might feel like a punch in the gut for some businesses, but please don’t slash other benefits or hiring plans just to save a few quid. That’s basically robbing Peter to pay Paul. Get creative: review your third-party contracts, chat with your brokers to see if you can tweak staff benefits and take a long, hard look at your bonus structure. Not every bonus is sacred, especially when the cash flow’s under strain.

And let's not forget the job seekers out there. I have a sneaking suspicion that this potential NI hike will become the latest excuse for roles to be cut or hiring decisions to be put on ice. Businesses and leaders are already telling me they're ‘waiting until after the budget’ — which, honestly, feels a lot like kicking the can down the road. My advice: stop waiting and start preparing. If you play ‘yes man’ to every government budget change without a plan, you're going to lose top talent.

But hey, that’s just my two cents. What do you think? I'd love to hear your thoughts!