25/11/2010
Small business owners are being urged to check their employees remaining holiday entitlement, by business experts.
According to the Forum of Private Business (FPB) SMEs can avoid problems around the Christmas period by double checking their staff's remaining holiday entitlement sooner rather than later. Running a business over the festive season is often difficult enough, without unexpected issues arising.
If a small business were to discover that some of their employees are owed more leave than they had originally thought, it could cause damaging staff shortages as employees take their holidays all at once. Repeated changes to employment legislation have resulted in the calculating of annual leave entitlement becoming difficult for small businesses.
Nick Palin FPB's administration director told Construct a Quote: "With a smaller pool of workers to absorb absences among colleagues and greater fluctuations in overall company workloads, small firms are disproportionately vulnerable to staff shortages when compared to big business."
By checking employees holiday entitlement now, business owners allow themselves enough time to advertise for, interview and hire temporary members of staff. Any SME owners worried about funding the wages of new staff members can use finance options such as invoice factoring to ensure they free up money tied in accounts receivables.
Hannah McLaverty-Williamson