Member

Noble Lords have spoken about the culture of the small business. A great deal of time is spent on training, inducting, encouraging, sharing enthusiasms and building on a new employee’s talents and skills—all of which must be found and nurtured; they do not grow on trees. This is particularly so with young people entering the workplace for the first time, even the most able graduates. To induct each employee costs money. It costs a salary, it is a potential investment, and it costs time. An employer needs to build on the relationship. The way to do that, and to keep that investment and make it productive, is to move as a market economy moves—to reflect salary levels, to reflect pay and conditions, and to do what can be done to afford the best workforce you can to develop your product and compete.