Smaller companies are ‘losing talent’ to larger competitors because the benefits they offer are less attractive.
It’s no surprise that dealing with the limbo surrounding the UK’s departure from the European Union has proven to be the biggest challenge for most businesses. What’s interesting to see is what comes a close second for small and medium sized enterprises (SMEs).
According to new research, SMEs are struggling to attract and retain staff. Companies employing between 50 and 300 people say attracting talent is a bigger challenge than growing profits or improving workflow. Almost two out of three (63%) of SME bosses are worried that their staff face an employee benefits protection gap, compared to those offered by larger companies.