Auto-enrolment set to stunt small business growth
Enrolsme research highlights the concerns small businesses have when it comes to complying with the automatic enrolment legislation.
Small businesses with less than 50 staff are next to be affected by the automatic enrolment legislation. With more than 17,000 companies on the cusp of staging, the onset of automatic enrolment into a workplace pension means that 43% of those employing 1-5 staff are fearful of not being able to offer their staff pay rises and bonuses.
Furthermore, 72% of employees who work in companies with less than 50 staff are concerned that their future pay rises may be affected as a result of putting in place a workplace pension.
The findings come from independent research conducted by Enrolsme; a guided online automatic enrolment solution designed for small businesses.
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