HR resources 'lacking for many UK SMEs'

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HR resources 'lacking for many UK SMEs' (image credit: Thinkstock/iStock)

New research published by online recruitment website Jobandtalent has highlighted the considerable proportion of UK businesses that are struggling to keep on top of employment regulations and legislation.

According to the organisation's findings, just 37 per cent of UK owners of small to medium-sized enterprises (SMEs) are confident they have a strong understanding of their requirements in terms of employee rights and employer regulations.

The poll asked 500 SME leaders to identify their current understanding of the regulatory landscape and the results were somewhat surprising.

Overall, the data showed that a cumulative £10,000 per day is being faced in fines by SMEs regarding their inability to meet pension requirements - an issue that has grown threefold in the last quarter.

Furthermore, a significant proportion of respondents to the study (25 per cent) stated they recognise they currently lack the HR wherewithal to keep abreast of the latest developments and it is a situation that needs to be rectified in future.

UK managing director of Jobandtalent James Puck stated: "No-one starts a business because they like doing paperwork, but complying with regulations on auto-enrolment and the apprenticeship levy, for example, requires an almost constant stream of admin around hiring, payroll and benefits.

"That's very time-consuming and keeps business owners away from their core tasks.

"Cutting time to hire and reducing risk are both critical success factors for small and growing businesses, so the ability to hire quality talent quickly with less administration provides businesses with the best possible opportunity to grow."