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09/09/2008
Research reveals ignorance over minimum wage increases |
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New research has revealed that many businesses are confused over National Minimum Wage (NMW) levels, employment rights and how to enforce them.
Bibby Financial Services has revealed that despite the government's efforts, nearly a third of all small business owners and managers are not "fully aware" that the NMW is set to increase on October 1st.
For those businesses with just four employers or less, the confusion is worse with 44 per cent claiming they are totally unaware of the planned increases in NMW.
David Robertson, global chief executive of Bibby Financial Services, said: "It is worrying that there is still so much uncertainty among small businesses about National Minimum Wage levels, particularly when the Government is introducing tougher penalties for firms who, for whatever reason, fail to abide by minimum wage legislation."
Small businesses seemed equally confused about the NMW for 22 year-olds. Almost a third of those questioned said they were not sure of the exact rate, while a quarter thought the increase was much more than it actually is.
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