As you are most likely aware the minimum wage will go up from 1 April 2018. This is the largest minimum wage increase in a decade. Have you thought about how this will affect you and your business?

Some SMEs may need to choose between reducing the number of staff to keep up with rising costs, or increasing prices.

Also, have you thought about other staff that currently earn more than minimum wage? How will they react to juniors who perhaps now receive the same as them? If this is not handled well, you may find a wage price spiral in your business that you can ill afford.

It will be imperative that you handle this event well with proven, sound HR processes.

Why not get in touch with us at Prime Strategies and we will help you through this process in a way that it doesn’t cost you the shirt off your back.