The WorkLife Small Business Monitor

There is no doubt that the pandemic has had a devastating impact on many small & medium sized companies. Despite the end of the widespread COVID-19 restrictions, the markers of a successful recovery were not being enjoyed by all.

Our report considers the variations in the recovery paths from the pandemic – for those firms struggling to reopen, to those enjoying a surge in demand – as well as where new issues are arising for the UK’s small businesses. It also contrasts their ability to adapt to the issues they face and what challenges now top their to-do lists going forward.

Our study has revealed…

– 26% of SMEs say they are under-resourced.

– 36% of SMEs cite high inflation as one of the top three challenges facing their business over the next 12 months.

– 73% of SMEs are experiencing higher demand in regard to pay and benefits, and 17% of firms cite this as one of the biggest challenges facing their business right now.

Many of the senior decision makers involved in the research continue to place employee issues high on their priorities, showing that in a lot of cases the value of good people for the future of the business is still understood. Attention now turns to the next steps for rebuilding, which includes the ability to retain and attract the best talent. And to be successful here means a real commitment not just to salaries, but to making the business a great place to work.

Download your FREE Small Business Monitor Report to find out how to shape your business & recruitment strategy.

If you would like to discuss the findings of this report or learn how we can help your business with employee benefits email us at [email protected].