How will the biggest minimum wage rise in a decade affect you

As you are most likely aware the minimum wage will go up from 1 April 2018.

 Have you thought how this will affect you and your business. This is the largest minimum wage increase in a decade.

 Some SMEs may need to choose between reducing the number of staff to keep up with rising costs or increasing prices.  

Also have you thought about other staff that currently earn more than minimum wage. How will they react to juniors perhaps now receiving the same as them? If not handled well you may find a wage price spiral in your business that you can ill afford.

 It will be imperative that you handle this event well with proven, sound HR processes.

 Why not get in touch with us at Prime Strategies and we will help you through this process so it does not cost you’re the shirt off your back.