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&#39IFAs not aware of new flexible working rules&#39

IFAs are unaware of the recent introduction of flexible working regulations for families and how it affects them, according to a survey by employment law specialists Peninsula.

Over half of IFAs were unaware that the legislation was being introduced and did not know how it would affect them or how to comply.

It also found that 83 per cent believed that the legislation would create unnecessary paperwork for employers and only 32 per cent thought that it would increase employee productivity.

Smaller firms, in particular, will be affected by the legislation, as the loss of only one or two members of staff can have an effect on performance. There is also concern that employees without dependants who are not given the option to work flexible hours could feel discriminated against.

Head of corporate development Russell Guest says: “Many small IFAs are worried that once these laws come into play, their business will not reach their potential productivity.

“They will be left with minimum staffing levels once employees are working flexible hours to suit themselves.

“With more legislation set to be introduced, suitable alternatives to the barrage of red tape have to be sought if the potential damage to IFAs is to be halted.”

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