A big news story over recent weeks has highlighted significant fines which have been imposed on companies who have not complied with the National Minimum Wage. A record £2m has been paid to workers after companies, which include Argos as well as other smaller companies, were found to have underpaid employees.
Minimum Wage Compliance
The latest report will name and shame all the companies found to be in violation, and shows that heavy fines have been issued to each one. This comes as part of another government push to crack down on cheating companies, no matter how big or small. Not only is this a big blow on profits, it can have a detrimental effect on a company’s reputation as an employer too. In the longer term, it could impact on employing the best quality talent, something which has been known to hinder growth.
We’re sharing this story with you to make sure you don’t get caught out. If you think you might not be meeting National Minimum Wage standards now’s the time to get in touch, because even if you’re a small business or a start-up, you can still face a hefty government fine.