Around 70 per cent of SME finance directors have ultimate responsibility for HR in their company, according to our survey of more than 250 FDs. More than three quarters of those FDs rated challenges around recruitment, retention and employment law as their number one headache.
Effective recruitment strategies were deemed to be the most pressing concern, the survey showed. With the average cost of losing an employee estimated at £30,000 by Oxford Economics, with an additional £25,000 of lost productivity as a replacement gets up to speed, this result is perhaps unsurprising. Indeed, staff turnover costs the UK an estimated £4.13bn a year.
But ever-changing employment laws are also keeping FDs awake at night. The illegalisation of tribunal fees, the shifting landscape of the gig economy and the impact of Brexit top the charts of legal quandaries.
But there is no need to suffer in silence. HR for Finance Directors, the latest FD Surgery event created by Real Business, provides a focused and interactive forum where finance directors can learn from one another – and the experts!
With sessions on innovative recruitment and retention, remuneration strategies, balancing the needs of multiple generations and the most pressing employment law developments, HR for Finance Directors will featuring on-stage debate, technical presentations and roundtable discussions,. The half-day event will bring together over 100 finance directors that are all in the midst of an HR maelstrom. Join them for fresh perspective on a perennial problem and a powerful boost to your profits.