Umbrella companies urged to follow business blueprint

Date: June 04, 2010

Category: PAYE Umbrella Company News

Businesses, including umbrella companies, could reap huge benefits by implementing a blueprint developed by the Warwick Business School, it has been suggested.

The school's report, commissioned by Royal Mail, identified six key factors firms need to address in order to compete effectively in the current market.

These included flexibility, marketing, human resources planning and growth ambition.

"Firms implementing three of these factors would be growing up to a third faster than firms implementing two or less of these factors," said Professor Stephen Roper, professor for enterprise at the establishment.

Companies should think about future business planning and consider their human resource requirements for the coming months, he continued.

"It's about taking a strategic rather than an ad hoc approach to business management," Professor Roper added.

More than half of the small and medium-sized enterprises questioned by Warwick Business School said they undertake no more than two of the recommendations, suggesting there is much room for improvement.

Posted by Daniel Frost