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Wednesday 1 August 2012

UK employment costs 'the lowest in western Europe'

The cost of employing a person in the UK is lower than in any other country in western Europe, the latest statistics suggest.

Research carried out by Towers Watson for its annual Global 50 Remuneration Planning Report shows that the mandatory costs and taxes associated with employing people in Britain are lower than in the likes of France, Spain and Germany.

Typically, it costs just £3,940 to employ a middle-ranking professional earning £33,000 in the UK, while the equivalent employee in France, who would be earning €40,000, costs £14,200 to employ.

The second and third lowest costs were observed in the Netherlands and Germany, with employer expenditure of £5,250 and £6,200, respectively.

Darryl Davis, senior consultant in Towers Watson's Data Service division, said the report shows that there is a "big difference" in costs for employers across western Europe.

"It appears that the UK is amongst the most business-friendly countries in the region on the basis that the tax burden on companies is the most favourable," he added.

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Posted by John Oak and Wayne BlyADNFCR-1617-ID-801420488-ADNFCR

Source: The Sales Director News

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