Uncertain times ahead
A Perfect Storm of Uncertainty where reliable employment insurance is key.
In what may feel like a ‘perfect storm’ of uncertainty, the need for stability and risk reduction are valuable commodities for business owners – and trustworthy employment insurance has never been more important.
The UK did not leave the EU on time, the Prime Minister stood down, there were the European elections and the rise of the Brexit party. Plus a Conservative party leadership race, with Boris Johnson the new Prime Minister.
This uncertainty has continued to impact the economy, with the pound struggling against the dollar and the euro. Major international businesses including banks, motor manufacturers and consumer electronics companies have announced their head offices and manufacturing plants will move away from the UK. The consequence of this is that a significant number of jobs will be directly affected by relocation and/or redundancies. Additionally, there is the impact on local businesses that support these big employers.
At the same time, 2018 saw the highest number of employment tribunals in over 5 years (source - www.gov.uk). With employment tribunals scrutinising process and procedures and a workforce ever more aware of their rights, the process of selecting staff for redundancy, dismissals, or changing an employee’s role is fraught with danger. And of course, it costs nothing to make a claim
Is it all doom and gloom? Not necessarily. Despite GDP and exports tracking lower than other G7 countries, 2019 has seen the UK employment rate hit an all-time high. This has resulted in nearly half a million more people in work since last year and more women in work than ever before. Consequently, the unemployment rate has dropped to 3.9% for the first time since the 1970’s. (source - www.independent.co.uk)
We have the best value employment insurance in the market offering the widest, most complete protection for your clients, but we are not complacent - please tell us what more you need and we promise to respond!
We have a number of sales aids available, but we are happy to add to the collection - flyers to hand out? Slides for presentations? Just tell us what you need for general use or even specific tenders.
Published: 2nd August 2019