Navigating the NWM, NIC and UK Employment Rights Bill nightmare
A perfect storm of....
- National Minimum Wage increase to £12.21/circa £25,000 pa
- Secondary NIC threshold reduced from £9,100 to £5,000 pa
- UK Employment Rights Bill on the horizon
- Increase in Employer National Insurance
- Increase in energy, direct costs
- Candidate/skills shortages
- Ageing workforce
...are all exercising leadership teams and investors across most sectors in the UK.
According to the Centre for Policy Studies – the increase in NMW will cost employers, on average – £2,367 more to employ a full-time worker on the minimum wage than it did in 2024.
The new National Insurance (NI) increase in the UK is expected to add around £770 per minimum wage worker and £900 per median-earning employee to a business's annual costs or 2% overall to total payroll costs (OBR).
The UK Employment Rights Bill - is currently passing through parliament - although not enacted and open to consultation; the smart money is on most of the reforms being either partly or wholly passed into law.
Cubed Talent has over 30 years’ experience working with, advising and helping to shape strategy – with some of most respected, best performing businesses in across the UK – collaborating with accomplished leadership teams and investors.
This free to attend - informal webinar is an opportunity for all employer stakeholders to unpack, explore potential impact and exchange/share ideas on strategies to mitgate/fully neutralise the worst affects of these changes.
