Employees of UK small businesses are working an average of eight extra hours unpaid every week at work and home – worth £1.6bn* to the UK’s SMEs – according to new research** from Paymentsense, Europe’s leading card payment supplier. Worryingly, 16% of those surveyed work even more hours, with younger workers (aged 18-24) averaging 11 extra unpaid hours every week.
The main reason for SME workers doing so many extra hours is to keep up with the volume of work (58%), followed by pressure from their manager (30%) and, more positively, 28% wanting the business to do well. However, this is leading to nearly half of people (42%) feeling more stressed, and over a third (37%) feeling taken for granted by their employer.
Managers might take note that 36% of SME staff said they rarely, or never, got credit from their bosses for putting in the extra hours. What’s more, almost a third of them (29%) have considered leaving for another job or changing career completely as a result of the frequent unpaid overtime. A further quarter (26%) would consider starting their own business, or going freelance (16%), to escape their current roles.
Clare Dimond, a leading business coach and author of ‘Free Choice’ said: “With a smaller number of staff, the contribution of every employee in an SME is critical. Employers that value the time, creativity and mental clarity of each individual will see the impact on their bottom line and staff retention rates.
“Directors can role model good mental health behaviour for their teams. Avoiding stressful thinking, spending time exercising or with family and creating a culture of strong relationships, and individual contributions, make for a healthy, inspired career and home life.”
Guy Moreve, Head of Marketing at Paymentsense commented: “We know from working with over 50,000 of the UK’s small businesses that SMEs are constantly challenged to balance the often-unpredictable demands of growth, with looking after hardworking staff – especially in potentially uncertain economic times.
“Keeping employees happy should be a priority, given its impact on productivity levels. The good news is that perks don’t have to cost a fortune. Our own research has shown that an early Friday finish, the chance to work flexible hours, and a free day off here and there: for birthdays, duvet days or to help with moving house are the amongst most sought-after benefits.”
‘Can you just…?’ Top 8 reasons SME staff work late unexpectedly
- Last minute request from client or customer (39%)
- Last minute request from boss (37%)
- Meetings overrunning at the end of the day (34%)
- Keeping up with admin (32%)
- Attending meetings at client or customer locations (24%)
- Equipment or computers playing up (21%)
- Manager’s poor time management (20%)
- Their own poor time management (19%)
* Average UK salary of c.£27K, equal to around £104 per day (average of 260 working days per annum). 15.7m UK SME workers according to FSB figures.
** Research undertaken from July 4-5, 2017 amongst 1,000 UK SME employees.