UK Small Businesses Lose Money for Failing to Adjust Clocks
34% of small firms have reported a drop in staff punctuality after the clocks changed to summer time
UK small businesses lost nearly £14,000 last week after failing to adjust their clocks to summer time, according to a new report out today by the Small Firms Index (SFI).
A survey of 1,500 small businesses found that over a third (34%) reported at least one employee arriving for work an hour late, leading to a drop in productivity and output.
16% of business owners surveyed said they had missed important meetings while a further 3% admitted they had lost business as they were too late for international conference calls.
The report comes just one day after it was revealed UK businesses are falling short on digital skills training and will no doubt serve as a further blow for enterprises trying to crack the international market.
Ian Brass, managing director of SFI said:
“While only a once off occurrence, small businesses that run on a shoe string budget will no doubt be feeling the effects of staff arriving to work an hour late. Not only does this reduce output, but it also represents carelessness among employees.
“With home-grown businesses trying to break into the international market, such lapses in concentration will certainly do nothing to help endear the UK’s small business image to a global audience.”