Company Formation Owners Admit to Long Hours

The recession has had many damaging and far reaching consequences for employees in Britain. Not only have they had to contend with pay cuts, they have also had to deal with the threat of being made redundant.

According to a recent report conducted by HSBC this has had an overwhelming effect on the working culture of Britain as more and more employees work longer hours than they are contractually obliged to, in order to keep their jobs.

The report asked over two thousand small business and recent company formation owners if their staff work over their contractual hours, without receiving additional payment, over fifty five per cent said yes and over thirty six per cent said it was expected.

Ben Clinkard, small business manager for HSBC, commented; “During an economic downturn, many small business owners forget that employees feel the pressure too. Consequently, they feel obliged to work longer hours to secure their job. However, small business owners must understand that a happy work force means increases productivity, so they must ensure their team is working smarter, not necessarily harder.”