Family business bulletin |
October 2023
How family businesses can invest in
their people
Welcome to our latest bulletin, which explores a key part of all family businesses – its people. Attracting and retaining the best staff has become increasingly important, and businesses need to demonstrate that they are investing in their people to make them stand out as employers of choice in such a competitive market. If you know you’re not in a position to offer the highest salaries or bonuses, it’s time to look further afield to incentivise and continue to attract and retain your employees.
In this edition, we look at the following:
- The impact of ‘quiet quitters’ within a business, and how to reverse this trend and reengage your people.
- Recruiting overseas – family businesses are recognising the immense value that international talent can bring, which in turn can also provide a competitive edge.
- How providing an attractive employee benefits package can draw in potential employees, as well as improve the wellbeing of current staff.
- Employee Ownership Trusts (EOTs) can be a game changer for owners and employees and could be an option for consideration when thinking about future plans for your family business.
Please do get in contact if you have any questions.
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Important dates
22 October 2023
Deadline for paying tax and Class 1B NICs on 2022/23 PSAs (19 October if not paying electronically).
31 October 2023
Deadline for submission of 2022/23 personal tax returns if filed on paper.
Quiet quitters: reverse, reengage and achieve results
In the 2023 global workplace study, a staggering 72% of employees have been labelled as ‘quiet quitters.’ This alarming revelation presents HR and business leaders with a challenge, and they are left questioning how to effectively reverse this trend and reengage their people.
Our insight looks at the impact of quiet quitters on your organisation and how to address this issue.
Recruiting overseas? How to save money and get value
Recruiting overseas is challenging. You and your HR team are balancing your priorities with cost management to ensure your employee deployment adds value to your business. Proactive planning is the key to successfully recruiting overseas.
Our insight explores the challenges of recruiting overseas and how to combat these.
Reap the reward with an attractive employee benefits package
A competitive salary is no longer the sole reason an individual may choose to join your business, or why existing employees choose to remain with you. An attractive employee benefits package can help you to recruit, retain and motivate your employees.
Our insight looks at the options to help build the right benefits package for your business and its people.
Employee Ownership Trusts
EOTs are particularly relevant to businesses where people are the key drivers. They provide the opportunity to increase employee engagement and improve recruitment and retention rates.
Our dedicated area shows how we have helped our clients to implement an EOT, the benefits for all parties involved and the key considerations to think about before taking the first step.
Videos
Effectively navigating the salary review process