Archive for July, 2013
The amount that new members of staff should be paid was the subject of debate at the latest Business Exposure Group meeting.
Businesses were asked how they set a salary range for new staff, and one attendee said: “Ensuring that the amount you offer new employees is very important. If your candidate is hired at the top of your pay scale, you will have nowhere to go. However, staff who will accept low rates of pay are often less motivated and less effective on the ground.”
“Don’t wait until you find a candidate to come up with an offer,” said Geoff Sumner, who also attended the meeting. “You need to keep the salary of new hires in line with current staff, and quality of life perks puts you a long way to attracting talent.”
Salary data is available from a number of places including:
– classified ads
– public information
– other business owners
– chamber of commerce
– employment agencies
– trade associations
– job applicants
The group also looked at the pay scales for existing staff and how to decide on pay rises. For example, some businesses have chosen to move away from paying the minimum wage of £6.19 per hour to the provincial Living Wage of £7.45.
“You could put every member of staff on commission,” continued Geoff Sumner. “Vary the rate between roles and pay it every month. Every employee is then inherently motivated. Payroll will rise and fall automatically along with revenue creation.”
The real value of UK wages fell back to the equivalent of the 2003 level in 2012. Since 2009 inflation has outstripped wage increases.
David Greggs, who also attended the meeting said: “Male full time employees in the private sector have experienced the biggest fall in pay and on average, workers have seen pay drop by 3% annually between 2009-2013.
“An increasing number of workers have been underemployed since the economic down turn, which combined with lower take home pay, in real terms means many are earning much less than they were.”
If you are a Director or business owner and would like to attend one of their informative round-table discussions, please contact firstname.lastname@example.org
We are delighted to see that there is good news for UK manufacturers, as according to recent figures from the Markit PMI (Purchasing Managers Index), the sector is beginning to stabilise after it had declined in recent months.
But if you run a traditional manufacturing business, where do you go to get advice or bounce ideas off other business owners?
Philip Drazen, heads up the Business Exposure Group and thinks that his round table events could be just what manufacturing business owners need. “Business owners who attend our meetings are always glad they have attended. They gain an insight from someone, who perhaps isn’t in the same industry, which can give them guidance and support.
“The meetings also offer an opportunity for business owners to swap success stories and ask about challenges they may be facing within their business.”
As it stands, these discussion groups are constantly expanding, assisting and creating a positive outlook for all businesses involved in the Business Exposure Group.
If you run a manufacturing business and would like to attend one of their informative round-table discussions in either Manchester, Leeds. Wetherby or Sheffield, please contact email@example.com