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Red tape makes dismissal very difficult, says survey

The poll, by Peninsula, found 67 per cent of financial advisers admit to not following correct procedures when sacking a worker.

The survey found that advisers, already having faced getting ready for the retail distribution review and maintaining CPD, spend an average of seven hours a week dealing with red tape.

Alan Price, employment law director of Peninsula said: “It is clear that red tape is a frustration; however it should not be used as an excuse to easily dismiss a worker.

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“Employment law is complicated and procedures can be lengthy, however it is not worth taking a risk, if a disgruntled employee decides to take you to tribunal then remember it’s not only the financial tribunal award you need to worry about, it’s also your reputation.”

Adviser view

Will Palmer, financial development manager for South Yorkshire-based Atkinson Smith, said: “Red tape is getting worse, especially coupled with the requirements to make the business profitable and deal with clients.

“Staffing issues have taken up time in the past year. It has to be dealt with appropriately. As a composite company we have our own division that deals with our employment regulations.”