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A new survey has revealed that as many as 1.3 million UK SMEs have lost talent this year – all because they’ve undervalued their staff.

The Prezzee research shows that these figures coincide with the ongoing ‘Great Resignation’ situation, which has seen employees leaving their jobs at the highest rate in 13 years.

James Malia, UK MD of Prezzee, commented on the findings, “When times are tough, as they undoubtedly have been over the past two years, reward and incentive strategies are more important than ever. They’re a clear way to showcase how highly a company values its staff and as our data reveals, when not done well it directly results in people leaving for greener pastures.

“It’s therefore important that businesses are doing everything they can to support employees during the cost of living crisis. It doesn’t need to be a huge change in strategy either, the trick is to offer personalised rewards and incentives regularly – rather than making people wait a year for bonuses.”

Thinking of appointing Dolan Accountancy?

Give us a call on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

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Malia added, “It’s then that people will realise quite how highly businesses value them, especially when these incentives come at a time when money is tight, as it is for many during the current cost of living crisis.

“Times of financial difficulties can be hard to open-up about, especially within the place of work, so HR and line managers need to be one step ahead of their employees.

“Indeed, the future of loyalty incentives should revolve around personalised, thoughtful rewards that highlight how much businesses care about their employees. Those companies which change their ways now will find themselves in a much stronger position come 2023.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.

Why Thousands of Contractors Choose Dolan Accountancy

With over 25 years experience in contractor accountancy helping thousands of contractors, freelancers and the self employed, Dolan Accountancy has the specialist skills, reputation and credibility you can trust.

Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £105 + VAT. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795 100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours
  • Free use of Contractor Umbrella – With IR35 Legislation changes we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams
  • Free Access to FreeAgent – We offer all of our clients access to FreeAgent, free of charge
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few
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