top of page

How to Neutralise Increasing Employer Costs

The Budget is fresh in everyone’s mind, and if you are an employer who was already facing a further 1% increase for Auto Enrolment in 2019, you would have been thrilled with the announcement of a further 4.48% average increase to the National Minimum Wage planned for April 2019.

With rising costs across the board, how is an employer supposed to remain competitive? The costs have to be borne somewhere, and our customers – who are simply looking for more for less – aren’t always the answer. So what do you do?

Of course, you could look to try to reduce your costs across the board. But hey, if you’ve been practical and achieved a saving of 1%, you have done well.

So how do you make these increases a cost-neutral exercise?

Ok, this is where your commercial HR team should come into their own. Planning a performance improvement program that is designed to engage productivity across the board will, without doubt, cover the majority of those costs.

Additionally, working on a proactive engagement initiative – which has to work hand in hand with the performance improvement programme designed to release the 10% discretionary effort that all employees have in them to go above and beyond what you pay them for – should simple to implement.

Before you know it, not only are the costs covered, but you have engaged team members who are rewarded for their achievements.

If you would like to understand more about how proactive commercially led HR can positively impact on your business, please call NucleusHR on 07960 418494.

bottom of page