Did you know that 47% of SME’s struggle to find and attract the right talent to their business?
This is an alarming statistic given the fact that at the end of 2016, UK SME’s accounted for 99.3% of all private sector businesses, and employ 59% of the UK workforce.
When speaking with a number of Managing Directors, Owners and Businesses over the past couple of months, it became clear that the vast majority had struggled or indeed struggle with the recruitment of new staff.
We started AJA SME Solutions for this very reason. To help SME’s attract, find and employ the talent that they require to help their business flourish and grow and more importantly, retain.
Recruitment for an SME or new start up is time consuming, and takes you away from the very thing you want to be concentrating on, your business!
After all, we’re an SME ourselves and know first-hand how difficult it can be to find the right people.
It isn’t just costs associated with finding new employees that the vast majority of SME’s find financially hard, but also the cost and time involved of replacing members of staff when they leave.
A departing staff member on average costs £30,614 to replace, according to Oxford Economics and Unum, with £5,433 to organise finding a new employee, and £25,182 in wages for the new worker to reach optimum productivity level.
Legal workers are the most expensive to replace at an estimated fee of £39,887, with workers normally requiring 32 weeks to reach peak performance in the workplace. Accountancy follows closely behind, with a cost of £39,230. The combined bill for both sectors is estimated to be £1.4 billion.
For the media and advertising sector, new employees take just 20 weeks to reach optimum productivity, costing businesses of £25,787 per replacement employee, contributing to an overall annual fee of £183 million for the sector.
The technology sector, and in particular IT, is most affected by staff turnover, with the overall sector figure reaching £1.9 billion per year. Workers also take more than seven months to reach their peak – at a cost of £31,808. Retail workers are the cheapest employees to hire, taking 23 weeks at a cost of £20,114.
SME’s and their staff are at the very heart of this country and we at AJA SME Solutions (Arthur Jackman Associates) completely understand the importance of getting it right.
If you want to know how we can help, just give us a call or pop over an email and we would be happy to chat.
Written on behalf Arthur Jackman Associates by ID1PR