small business staff

Small Firms Fail to Protect Themselves Against Losing Key Employees

Small Firms Fail to Protect Themselves Against Losing Key Employees

The majority of small businesses in the UK think that losing a key person within their business would not affect them, yet a new report from Legal & General Business Protection shows that 40% of firms would close in less than a year if a key employee suddenly left. The research found that 63% of companies think the loss of an integral employee t would have no effect on their brand, another 58% said it would not affect their relationship with financers and 47% believed that it would not affect their cashflow. Contrary to these perceptions, the research revealed that 63% of sole traders would cease trading immediately if a key person left as would 46% of businesses that are less than two years-old. Furthermore, 40% of small and medium-sized companies would also close within a year if a k... »

How to Manage Stress in the Workplace

How to Manage Stress in the Workplace

Erroneously considered by some to be part and parcel of modern life, workplace stress is no joke as a business owner; affecting employers and employees alike, stress can lead to poor productivity, bad decisions and a lowering of morale generally. Learning how to recognise and deal with stress and its causes can bring myriad benefits as an employer, so it is important to know how to recognise the tell-tale signs of stress, common causes of it and how to manage it effectively. How important is managing stress? Dealing with stress and its causes effectively is an absolutely crucial skill as an employer, as the consequences of ignoring it can be severe. A 2012 survey carried out by CIPD found that a quarter of employers in the UK said that stress was one of the top five causes of employee abse... »