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The Government’s latest announcement that the scourge of late payments owed to SME businesses will be legally addressed comes as welcome news!

38 businesses a day close because of late payments. Thats in excess of 266 business closures a week. Over One thousand companies closing down with all the attendant job losses every single month!

A huge amount of time is spent by well-run companies chasing overdue payments for services and good they have already supplied or manufactured having spent their money providing these.

This new Bill alters the way companies pay each other, which should end the pain of excess delays and unscrupulous practices which always hit the smallest businesses hardest!

Key takeaways of the Small Business Protections Bill (formally known as the Commercial Payments Bill) include: –

Introduction of a 60-day cap on payment terms on all big companies paying smaller suppliers, mandatory interest on late payments, set at 8% above the Bank of England base rate
A complete ban on the practice of withholding retention payments under construction contracts.

Regardless of your political persuasion, Sir Keir Starmer’s comments on this new payment legislation and it’s impacts for SME businesses and saving jobs is hard to disagree with!

The Prime Minister had this to say; “Small businesses are the backbone of our economy – run by people who take risks, create jobs and keep communities going. This government is firmly on their side.

“Too many small business owners are spending hours chasing money they are owed and when payments don’t come through, the cost is personal. It’s about whether you can pay your staff, keep the lights on, or invest in your future.

“Today we’re changing that with the toughest action on late payments in a generation, so small businesses get paid on time and get the backing they need to grow, create jobs and serve their communities.”

There will also be new powers for the Small Business Commissioner enabling them to investigate poor payment activities, judge disputes and importantly, fine the worst offenders – awarding the offenders fines that could be worth many tens of thousands of pounds for those with the worst persistent late payment records.

This news is of critical importance to all small businesses and particularly welcome news for the SME business community!

As the Business Secretary Peter Kyle commented: “Costing the UK economy £11 billion every single year, late payments choke growth, cost jobs, and force too many good businesses to close. That ends today.

“Through this landmark bill we are delivering the toughest payment reforms in over a generation, to give the UK the strongest legal framework in the G7, and back small businesses with the certainty they need to grow and thrive.”

You can view the article in Business Insider by clicking HERE

The Small Business Commissioner is also getting new powers to investigate poor payment practices, adjudicate disputes, and fine the worst offenders – with potential fines that could be worth tens of millions for persistently late payers.

Business Secretary Peter Kyle said: “Costing the UK economy £11 billion every single year, late payments choke growth, cost jobs, and force too many good businesses to close. That ends today.

The Bill builds upon and strengthens legislation first laid out in the 1998 Late Payment of Commercial Debt Act.

After working with the Federation of Small Businesses, these Bill powers will also ensure boards or audit committees of persistently late‑paying large companies publish clear explanations of poor payment performance and the steps they are taking to improve it.

FSB Policy Chair Tina McKenzie said: “Tackling late payment is one of the biggest things the government can do to help small businesses grow. FSB is proud to have worked with ministers on these reforms and it’s encouraging to see the voice of small firms reflected in legislation. Giving audit committees a clear role in payment practices is a vital step in changing late payment culture.”

Mental Health Awareness Week 2026: Moving from Awareness to Action

The 11th to 15th of May marks Mental Health Awareness Week. After years of “starting the conversation,” the 2026 theme is “Action.” It’s a call to move beyond posters and slogans and toward meaningful changes in how we work and live.

In a climate shaped by the ongoing cost-of-living crisis and a volatile job market, mental health isn’t just a “HR topic”, having good mental health is the foundation of our economic and social resilience.

The Employer’s Perspective – Building an “Action-First” Culture

For companies, “Action” means moving past one-off yoga sessions and focusing on the systemic causes of workplace stress. High interest rates and market uncertainty have put pressure on bottom lines, but the cost of burnout is far higher.

Moving to Action:

Audit the Workload: The most effective “action” for mental health is often simply ensuring people have the time to do their jobs. Review team capacities to prevent chronic overwork.
Financial Wellbeing Support: Acknowledge the cost-of-living crisis. Action can include providing access to financial planning tools, transparent salary benchmarking, or hardship grants. Equally action could include temporary support with fuel costs for staff travelling into the office.
Manager Training: Upskill leaders to spot signs of struggle early. Action is a manager feeling confident enough to say, “I’ve noticed you’ve been quiet lately. How can I help?”

Useful Resources for Employers:

MHFA England Action Toolkit: Guidance on implementing Mental Health First Aiders.
Mind’s Wellness Action Plans (WAPs): A practical tool for managers and employees to co-create support structures.
A great online social media toolkit is available on MIND https://www.mind.org.uk/media/q1qpvn2u/mhaw-2026-sport-physical-activity-pack.pdf

Stage 2: The Candidate’s Perspective – Navigating the Search

Looking for work in 2026 is a marathon, not a sprint. The “Action” theme for candidates is about self-preservation and reclaiming agency in an often impersonal process.

The Reality of the “Fruitless” Search:
Job seeking in a tight market is mentally exhausting. Frequent rejections, or worse, “ghosting” can lead to:-

Imposter Syndrome: Feeling unqualified despite years of experience.
Financial Anxiety: The weight of the cost-of-living crisis making every “no” feel like a personal rejection and increasing desperation to find any job.
Erosion of Routine: Losing the structure of a workday can lead to lethargy and isolation.

Moving to Action:

Set “Working Hours” for the Search: Don’t let job hunting bleed into your entire evening. Decide that “Action” for today ends at 4 PM. Set a designated hour / time of day to focus on your job search but then have a strict ‘finish time’ and stick to that!
Control the Controllables: Focus on the quality of connections rather than the quantity of clicks. One coffee chat or a tailored job application is a more positive “action” than 50 “Easy Apply” hits.
Protect Your Identity: Remind yourself that you are more than your job title. Engage in hobbies or volunteering to maintain a sense of purpose that isn’t tied to an employer’s response. In other words – do something for YOU!

Useful Resources for Candidates:

National Careers Service: For free advice on managing career transitions.
Mental Health UK – Managing Money Anxiety: Practical tips for when financial stress impacts your mind.
Mental Health Foundation: Check out their excellent website on this link: https://www.mentalhealth.org.uk/our-work/public-engagement/mental-health-awareness-week

The Bottom Line:

Whether you are hiring or applying, the ‘action’ for 2026 is to replace “I hope things get better” with “What is one small thing I can change today?”

“In todays’ talent starved candidate pool, how many interviews is the right amount of interviews to get the best candidate?”

Born from a genuine conversation between a senior recruiter here at Astute Recruitment with a client for a Head of Finance role we are recruiting for: –

OUR CONSULTANT: “Great I’ll get the first interviews arranged, how many interviews did you want to have in your process?

THE CLIENT: “5, is that normal?”

OUR CONSULTANT: “Typically a 2-interview stage process is the norm. 3 stages are acceptable for a CFO/ FD role, but 4 interviews is getting silly, let alone 5! The candidates won’t be available for a 5-stage process, they are already interviewing for other roles which are 2 stop processes, and they will get snapped up.”

THE CLIENT: “Oh, I see, yes I’ll speak to the Directors, and we can streamline the process to 3 as we are pretty confident with the shortlist you have provided! Thank you for the advice!”

So, we wanted to raise this question.

“In todays’ talent starved candidate pool, how many interviews is the right amount of interviews to get the best candidate?”

As a niche specialist in sourcing finance professionals, our team regularly give consultative advice around this and other recruitment issues. Why do we feel the two-interview process is best?

We give you example ‘A’.

A UK Group FD needs a senior financial reporting accountant for a permanent role. The client realises that the role profile is a difficult one – someone ACA or ACCA with original practice background who is looking for their second move from practice, already having a role in industry.

We shortlisted 2 great options and the client agrees that they would like to arrange interviews in short order. We have told them that both are in play for other roles.

The client’s process.

Initial interview consisting of a presentation around key objectives in the role and around what the candidate’s envisage their first 3 – 6 months looking like. What they plan to bring in and how they would deliver specific projects etc. The second part of the first interview will be to discuss these with the FD.

The second interview? Aiming to drill into more depth about the candidate’s vision, aspirations and attributes relevant to the role and business they are interviewing for. There would be 2+ representatives from our client and a good opportunity for open, two-way questions from the candidates and the client.

Then a decision would be made, with an initial verbal offer and a ‘meet the team’ opportunity.

Example ‘B’.

A global corporate and valued client has been looking for a qualified accountant to work in their Global Head Office. Specific criteria mean that FBP and analysis skills are essential requirements.

The client’s interview process?

After shortlisting just two exceptional applicants, a first interview was conducted with the overall line manager for the team. This detailed interview enabled the manager to ask incisive questions around the candidate’s expectations, where they wanted their career to develop and why they would be great for this role.

The second interviews, which have just been concluded, consisted of online interviews with senior stakeholders the relevant candidates would be working with should they be successful! The client’s stakeholders were able to give a ‘warts and all’ appraisal of the role, the good, the bad and the ugly if you like!

The line manager specifically wanted this honesty in the process, and we entirely agree!

Then there would be a ‘de-brief’ with the feedback discussed internally and an offer of employment to one of the candidates within 24-36 hours. As the preferred recruitment partner for our client – we are completely aligned with their process, can ensure our candidates are aware of timelines and everyone’s expectations can be fully managed.

For lower level/ more junior roles across transactional finance, swift interview processes with agreed timelines are equally important to ensure that good candidates are not lost due to quicker recruitment processes elsewhere.

Key points to take away:

According to a survey 62% of finance professionals say they lose interest in a jobif they don’t hear back from the employer within two weeks – or 10 business days – after the initial interview. That number jumps to 77% if there is no status update within three weeks. Our qualified recruitment team totally agrees!

26% of respondents to the survey said they would leave a negative comment anonymously on review sites if they felt like they were being strung along, potentially harming the chances for the company to attract top talent down the road.

If a company is indecisive, it can provide a candidate with crucial insight into the company’s culture. “If the decision-making process is this difficult for the organisation – if they’re not able to pull the trigger after three or four interviews and you’ve done everything asked of you and they’re still unsure – then that’s a key indicator of what it might be like to work for that organisation and those managers,”

An often missed point in a recruitment process is that the process itself is an opportunity for the employer brand to really shine!

Not just to the successful candidate but to all candidates who are part of the process.

A good, professional recruitment process can provide a glowing image of the business and the way they conduct themselves. This can mean increased perception in the market as an employer brand of choice and can create an appetite in potential hires that they want to work for such a great company that take their employee selection process seriously.

It can also create an appetite amongst key recruitment partners whether internal recruiters, external HR professionals or specialist recruitment agencies/ consultants that this is a great company to flag to talented new applicants/ candidates.

“So, be Astute and to recruit the best

candidate for your opportunity.

Make your recruitment process the

best, smoothest and most efficient it can be.”

You could be attracting an A Player of the future, even a business referral!

Our Qualified Team are happy to give confidential advice if you are a client thinking about a potential recruitment process, or if

you have any other questions around recruitment.

Our Qualified Recruitment Team: –

Andy Lilliman – Recruitment Manager

Qualified Permanent – City of London & Greater London [email protected]

Richard Bowe

Interim Qualified – East Midlands [email protected]

Tom Norton

Qualified Permanent South Derbyshire, South Notts, Staffordshire [email protected]

Harry Langridge

North Derbyshire, North Notts

[email protected]

Matthew Morgan

Nottingham City Centre and Central Notts [email protected]

This topic is discussed in more detail with some great comments from actual people – from recruiters to real candidates – discussing their experiences: https://www.bbc.com/worklife/article/20210727-the-rise-of-never-ending-job-interviews

Other articles by Mary on career tips, business strategy, tips to recruit the right person and more are below!

How to boost your employer brand and achieve success!

Following the end of the last Peer Networks business growth hub this year, our MD Mary Maguire wanted to say a huge thank you.

Thank you to the partnership and collaboration of the East Midlands Chamber of Commerce, the Department for Business, Energy & Industrial Strategy and D2N2.

Thanks to Neale Lewis for leading the cohort and huge thanks to everyone in our group.

Its great to share the success of business opportunities such as this, and to show how a growth mindset can really make a difference to business owners and Entrepreneurs.

Since January 2021, a small group of business owners have laughed together, supported each other and inspired one another. The sessions have enriched their understanding of day-to-day business issues and how to solve key problems. From recruitment to HR to business strategies, they have been able to offer understanding in their specialisms, suggest solutions and brainstorm new ideas for others to take away and implement.

As the last cohort of the year has taken place – we just wanted to share how valuable, enjoyable and insightful the sessions have been. Neale Lewis is a great anchor for the group – picking relevant business topics for discussion, teasing out, and developing trains of thought amongst the group to encourage new ideas and free-flowing conversation.

Our MD Mary said that she has taken away many, many ideas over the sessions and made some great friends too along the way!

Mary had this to say;

“Sessions like these are really important as a way to build confidence amongst the SME business community across the East Midlands and nationally. I hope that these continue to inspire and encourage business professionals, MDs and entrepreneurs to make the most of the fantastic support available to them and to enable them and their teams to flourish.

My thanks go to all of these brilliant people and their businesses. Its been great to get to know you all and I hope we can get together soon for those pre-Christmas drinks! 😊”

If you would like some additional support / advice for your business you can contact Neale himself www.nealelewis.com.

Watch video testimonials from other business owners say how they have benefited from Peer Learning, click on the link below: –

https://youtu.be/aevT3_gJ0Io

You can find out how you can book onto future Peer Network Sessions on the following link: – https://www.peernetworks.co.uk/

and of course seek support from the East Midlands Chamber, Peer Networks and D2N2.

“Strong, healthy leadership advice and support will inspire business success”

“A smooth sea never made a skilled sailor.”

A great quote by FD Roosevelt. We feel that the same applies to accountants.

It’s through the turbulent times though that we learn, in life and at work. When things don’t go quite as planned, we have an opportunity to learn, to become a better sailor – or, in the case of our clients, become a better business, and our candidates – to become better accountants.

Enjoy the smooth sailing when the seas are calm. But when the surf swells and storms brew, remember: that experience brings the ability to cope with headwinds.

The same is true of accountants and all finance professionals. From credit controllers who can free up much needed cashflow by reducing outstanding debtors to a strong Finance Director or Financial Controller who can win that key tender or negotiate better rates with that new tender. Hard experiences teach finance professionals how to cope in difficult situations.

Our Astute seafaring ode to accountants everywhere: –

What is a business, without an accountant at the tiller?

Assessing performance, the greatest biller?

Forecasting growth, future success,

How to improve profits, stakeholders to impress!

Through recession, through growth, the bad and the good,

None can enlighten like a great accountant could.

Through the choppy waters of business life,

A strong accountant can solve financial woes and strife.

A seasoned finance professional,

Can bring a steady hand and deliver the exceptional.

Financial accountants; “How much are we owed?”

Payrollers processing pay for those furloughed.

Credit controllers to keep debtors down,

Managing relationships with a smile not a frown.

Part Qualified and Finalists, improving analysis,

Working hard to avoid performance paralysis.

Accountants in the office or WFH,

Rest assured, their value alone,

Will see your business thrive and grow.

So #BeAstute, use the finance recruitment firm ‘in the know!’

Contact our team ‘in the know’ for your career development or to source an experienced accountant in your finance team: –

How to settle into a new job & prepare to return to the office… They aren’t that different!

Settling into a new job in lockdown – and preparing for a return to the office are not that different. We help highlight tips on transitioning employees back to the office, or wfh after furlough.

Cast your mind back 12 months. The first lockdown meant businesses, and employees were in survival mode. Most employers relied on the Government’s furlough scheme to remain in business, and keep their talented teams together with little or no revenue. But, as things began to settle down, companies pivoted, adapted, and improvised creating new ways to operate.

Hiring slowly returned.

Now, as we look ahead with optimism returning to the recruitment sector we’ve seen increasing demand for accountancy professionals at all levels. From transactional to qualified and part qualified accountants, Finance Analysts, Management Accountants, finance business partners, and more.

The Labour Market Outlook from the CIPD revealed overt half (56%) of employers planned to recruit in Q1 2021. We’ve certainly been busy.

With recruitment appetites returning, successful candidates have been faced with the challenge of starting a new job whilst in lockdown. How have they coped?

Starting a new job remotely via Ms Teams, Zoom or other.

Starting a new job is a daunting prospect at the best of times, but being removed from the usual office workplace has made it an almost surreal experience.

Jessica Doyle who joined The Irish Times digital team during the first lockdown said this of the strange situation: “The funny thing about starting a new job remotely during the coronavirus pandemic is that all the usual social rigmarole of the occasion goes out the window.

“Everything you learn about making a good first impression – give a firm handshake, introduce yourself to everyone, make eye-contact – means nothing as you’re reduced to a disembodied head on a screen.”

The connectivity provided by online platforms including Zoom and Microsoft Teams has been a critical tool working from home, but nothing totally replicates face to face human interaction when you are trying to integrate in a new environment.

In Lockdown 1.0, the Zoom craze was a catch-all, adopted by all with huge enthusiasm.

Companies held online events. Quiz nights and virtual drinks became routine.

However, as time dragged on, ‘Zoom fatigue’ set in, with online socialising becoming rarer.

Now as we near the end of lockdown 3.0, many are admitting It has become harder to make connections in this latest lockdown.

Think of a pre-covid first day in a new job. At your new office, you would be bombarded with new information, meeting too many people all at once.

Usually you get a bit of time at your new desk to chat to your new office colleague(s), or accept an invitation to join them at lunchtime and bond.

This is the biggest challenge for new starters, to gain sense of belonging without spontaneous office chit-chat – the so-called ‘water cooler’ moments.

Instead, faced with a screen full of strangers, it’s harder to build personal relationships. Virtual conversations can be stilted & open to misinterpretation. In bigger groups, the louder characters tend to dominate virtual group discussions.

One saving grace of Zoom is that, at least, you can see everyone’s names at the bottom of their screens, avoiding first-day embarrassment of forgetting your new colleagues’ names! 🤣🤣

It is understandable to feel a bit of an outsider without physically meeting colleagues. You could easily assume everyone knows each other well (often incorrectly) and that you are on the fringes. An office or workplace is a social environment. Taking the social aspect away, can create feelings of loneliness and isolation.

Add to this the nagging worry about whether you are making a good impression. Away from an environment of instant feedback, how can know how you are doing?

Stanford University Professor Nicholas Bloom states how new staff struggle with unspoken rules: – from, ‘How many hours do people really work?” to, “When is it acceptable to take a break”, and “What do I wear on my first day?”.

Bloom raises the issue of ‘over-communication’. Where a new recruit will endlessly send unnecessary emails and Slack or WhatsApp messages just to highlight the fact that they’re still there.

Its never been so vital to have an onboarding plan, AND a ‘reset’ for existing staff returning to the office.

As it is so much more difficult for new employees to integrate, it is incumbent on the manager or business owner to implement an effective onboarding process. Extra thought needs to go into integration of new starters. From installing company ethics and ways of working, as well as the specific requirements of the job role.

Global management consultants, ‘The Boston Consulting Group’, calculates that companies that have effective onboarding processes in place achieve 2.5 times more revenue growth AND 1.9 times the profit margin as opposed to organisations with poor onboarding strategies.

Employee onboarding is a series of activities which educate new hires how to get to know their team and learn about the company’s attitudes, methods, rituals, and tools. For a new employee it’s an opportunity to get used to a unknown environment.

Onboarding can consist of formal training, workshops, and video calls, as well as shadowing people on the team and organised introductions. It can be a long, immersive process that lasts several months after initial induction sessions.

While a line manager may be the direct source of onboarding, the process should include meeting colleagues, by arranging video calls or assigning a ‘buddy’ to the new hire to provide vital support in those initial months.

A new starter should expect a proper and friendly introduction to the new company, but sometimes the new employee may need to reach out for help. In such a case, it is certainly worth asking a manager for introductions with other team members.

You should never be left alone to your own devices when starting a new job. If you are, then perhaps this isn’t the firm that deserves your services.

Preparing for the big return.

If all goes well, virtually all restrictions will come to an end by 21st June, and the big work from home experiment will come to an end. Although many people will continue to wfh, some of the time, most will return to the office in some capacity.

It may come as quite a shock.

While some people are counting down the days to freedom, others will be looking at the return with trepidation. Many of us have become quite reclusive during the lockdowns, and the social skills we used to take for granted can quickly become rusty.

Kelly Feehan, services director at wellbeing charity CABA, says, “Returning to the workplace after such a long period of time working from home will be tough for the majority of us. But for the people who started a new job during lockdown, and the working from home period that followed, it’s bound to be an even more daunting experience.”

In many ways, it will be like going through that awkward first day all over again. The only consolation is that everyone will be in the same boat.

Feehan says, “It’s hard to get a true sense of an organisation’s workplace culture when you’re working remotely, so you’ll want to spend some time reading the room and observing the different dynamics between your team members.”

The good news is that we pick up new habits and routines very quickly. Although we have become used to our own company, we are social animals by nature.

So, let’s celebrate! 👏👏👏 It’s nearly time to rejoin the human race and get back to near mormal!

Just make sure your existing staff and any new employees understand your expectations, and can access any help or support they may need.

Mary Maguire is one of the owners of accountancy specialist Astute Recruitment Ltd.

If you would like to see our company updates and industry insights, follow our LinkedIn page : – LI: www.linkedin.com/company/astute-recruitment/

Mary Maguire

Managing Director
Astute | Accountancy & Finance | HR | Office Support

Suite One, Ground Floor West, Cardinal Square, 10 Nottingham Road, Derby, DE1 3QT

T: 01332 346100
M: 07717 412911

#BeAstute – Childrens Mental Health Week 2021 “I’m enough as I am said the boy”

What inspires children can so often inspire all of us…

“What’s your best discovery?” asked the mole.

“that I’m enough as I am” said the boy.

I love this quote by Charlie Mackesy in his award-winning 2019 book, The Boy, The Mole, The Fox And The Horse.

My son was given this book to inspire him and all the then year, 6 pupils, in his school.

He’s kept it.

The other day, he came up to me in my upstairs bedroom (aka ‘office’ 🤣) and said,

“Mum, this is a really great book!”.

“Can I have a read?” I asked.

” ‘course you can Mum, but I want it back!”

Half an hour passed in the blink of an eye as I read beautiful and moving pearls of wisdom. Whilst written a couple of years ago, this is a timeless, wonderful book for kids and adults alike.

The gentle words wash over you, giving you a warm hug of reassurance.

And we all need a hug right now. ❤️❤️

Thank you Ashbrook Junior School!

Thank you Charlie Mackesy for creating such a heartwarming, wise and beautiful book.

A book for the best of times, and the hardest of times too. It’s a brilliant book to recommend to all those parents working from home for their children, especially during this special children’s week dedicated to raising awareness of child mental health.

It’s a beautiful, and rare book that can befriend a child and also captivate adults too.

A lot of parents are struggling to juggle their work and jobs from home whilst overseeing their children’s schoolwork at the moment. As a parent and an employer of staff with children, its really important to highlight and recommend great opportunities to help hardworking parents reassure their kids.

There is a great organisation called Children’s Mental Health Week

where you can access a video from their Royal Patron, HRH The Duchess of Cambridge’s video message to mark the start of the week.

Their Virtual Assembly with BAFTA and Oak National Academy is now available to view and share – featuring Jodie Whittaker, Oti Mabuse, Matthew Lewis, and many more…

If you would like to read more articles and posts on employment, recruitment, careers, mental health, and more, please follow Mary and our company page for Astute Recruitment Ltd on LinkedIn and Facebook.

Mary Maguire

Managing Director
Astute | Accountancy & Finance | HR | Office Support

Suite One, Ground Floor West, Cardinal Square, 10 Nottingham Road, Derby, DE1 3QT

T: 01332 346100
M: 07717 412911

E: [email protected]

W: www.astuterecruitment.com

LI: https://uk.linkedin.com/pub/mary-maguire/18/73/553

LI: www.linkedin.com/company/astute-recruitment/

Mental Health Week Can Your Business Afford to Ignore Mental Health?

We investigate the key impacts, costs, AND savings to companies of mental health at work.

Mental health has increasingly been highlighted as a key factor in business and employee performance, success and productivity.

This year’s Mental Health Week has special importance with the global fight against covid sars 2. Millions of workers, everywhere, across the world have been impacted.

Some working remotely, some furloughed. Some facing redundancy. Some already recently made redundant.

People’s work suroundings and working conditions have been turned upside down in just a few, short months, and whilst efforts to crank up the wheels of industry are in motion, the working landscape is likely to have been changed forever.

Nearly 1 in 7 people, almost 15% suffer some degree of mental health problems at work.

Men in full time employment are half as likely as women to experience mental health problems.

Nearly 13% of all staff absences in the UK can be attributed directly to mental health conditions.

According to research, improvements to mental health frameworks at work could equate to over £8bn in savings for UK businesses alone!

In today’s uncertain ecconomy, business owners, Finance Directors and senior management are more conscious than ever to seek good returns on investment and save money and more importantly improve staff engagement, morale and resilience.

What better way than to invest in staff?

But what are the cost benefits? How can this improve my balance sheet and company performance?

According to The Mental Health Foundation, workplace interventions including employee screening and care management strategies for those living with (or at risk of) depression was estimated to cost £30.90 per employee for assessment, and a further £240.00 for the use of CBT to manage the problem, way back in 2009 alone.

An economic model conducted in a company of 500 employees where two thirds are offered and accept the treatment, an investment of £20,676 will result in a net profit of approximately £83,278 over a two year period.

So, how can employers, HR teams, business leaders put in place policies to effectively improve employee wellbeing and mental health in their workforce?

Make it personal.

Employ personalised, tailored information for staff

Create bespoke advice specific to your staff, your business and working environment

Create risk assessment questionaires

Encourage staff to watch online seminars

Implement online workshops using experts

Use experts. You don’t have to do this alone. Use businesses like Precise HR Ltd, who can give honest, tailored advice specific to your company, workforce, industry and importantly, your budget!

The cost?

Approximately £80 for every employee, for 12 months.

The saving?

According to the Mental Health Foundation, for a company with 500 employees, where all employees undergo interventions, it is estimated that an initial investment of £40,000 will yield a net return of £347,722 in savings. Mostly due to reduced presenteeism (lost productivity caused by an employee working while ill) and absenteeism (work hours missed due to ill health).

In another article by Michael Parsonage and Geena Saini, their report highlights that mental health problems in the UK workforce cost employers almost £35 billion just 3 years ago.

They broke down the overall costs as follows: –

£10.6 billion in sickness absence;
£21.2 billion in reduced productivity at work, or ‘presenteeism’
£3.1 billion in replacing staff who leave their jobs because of their mental health.

So, conclusively, the costs of ignoring mental health for your employees, simply can’t be ignored.

More useful links for detailed reports, information and advice on Mental Health issues: –

The Mental Health Foundation

Precise Hr Ltd

The Centre For Mental Health

The UK Government’s Latest Advice on Mental Health and Wellbeing

…………. Below 2b curated…….

References

Lelliott, P., Tulloch, S., Boardman, J., Harvey, S., & Henderson, H. (2008). Mental health and work. Retrieved from gov.uk/government/uploads/system/uploads/attachment_data/file/212266/hwwb-mental-health-and-work.pdf

Stansfeld, S., Clark, C., Bebbington, P., King, M., Jenkins, R., & Hinchliffe, S. (2016). Chapter 2: Common mental disorders. In S. McManus, P. Bebbington, R. Jenkins, & T.Brugha (Eds.), Mental health and wellbeing in England: Adult Psychiatric Morbidity Survey 2014. Leeds: NHS Digital.

ONS. (2014). Full Report: Sickness Absence on the Labour Market, February 2014. Retrieved from webarchive. nationalarchives.gov.uk/20160105160709/http://www.ons.gov.uk/ons/dcp171776_353899.pdf [Accessed 28/07/16].

Sainsbury Centre for Mental Health. (2009). Briefing 40: Removing Barriers. The facts about mental health and employment. Retrieved from ohrn.nhs.uk/resource/policy/TheFactsaboutMentalHealth.pdf

Knapp, M., McDaid, D., & Parsonage, M. (2011). Mental Health Promotion and Mental Illness Prevention: The Economic Case. Retrieved from gov.uk/government/uploads/system/uploads/attachment_data/file/215626/dh_126386.pdf [Accessed 02/07/16].

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Mike

3 years ago

Highly recommended! Josh and Sarah have been fantastic at Astute. They've found and placed me in 2 jobs now between them, both really responsive and excellent at keeping you up to speed with things. Very knowledgable about the roles and happy to talk to companies with any queries you have.

C R.

Great agency one of the best ones I've worked with! Liz has been a great help and support in helping me towards a new direction in my career life. She is very attentive and keeps me in the loop at all times! She makes the extra effort to work with my preferred requirements for work and even if it isn't completely attainable she meets me in the middle and does as much as she can to help! Also Liz is very funny might I add 😂 and I'm happy that I can now put a face to the name after all these years! Thank you again Liz for all your help and support! 😊

Christine

4 years ago

Josh and the Astute team was very swift to help me to find roles that matched my profile. They are really reliable and will help through every step of the recruitment process going out of their way to assist and follow up when needed. Could not find a better recruitment agency!

Helen Pinegar

Fantastic recruitment agency.. Josh was extremely enthusiastic, encouraging and clearly knowledgeable about what was needed from both the employee and the employers point of view. Extremely supportive especially in regards to interview preparation and endeavoured to procure feedback promptly. Wouldn’t hesitate to recommend Astute in the future to both candidates and recruiting businesses particularly for the right fit for the role!!!

Lisa Leigh

I have worked as a candidate for Astute and they have been excellent. Super friendly service and professional agents keen to fit the right person to the right job. It has been a pleasure dealing with them and I would happily work for them again in the future. Highly recommend this agency.