Staff defection fears hit small businesses
Problems recruiting key staff and preventing them from jumping ship once they have been hired are causing major problems for family and owner-managed businesses, according to Howath Clark Whitehill.
A study carried out by the UK’s tenth largest firm in association with Kingston University has found that ‘the UK’s major engine for employment growth – the family or owner-managed business – is struggling to find and retain critical staff and remain competitive.’
Zahir Fazal, a partner at the firm, said: ‘The real fear is that some in this sector will be out-competed on staff remuneration which could lead to defections, and be enough to bring those businesses down. The good news is that this sector is clearly competing on recruitment / retention and is capable of beating larger firms in the bargain.’