Ken Murphy, the chief executive of Tesco, emphasized the need for the UK government to create legislation that simultaneously protects worker rights while boosting productivity and economic growth.
The employment rights bill set to go before Parliament includes crucial measures such as ending exploitative zero-hours contracts, better parental benefits, and immediate statutory sick pay.
Murphy pointed out that Tesco's strong performance, with profits rising by 20% to 1.4 billion, has been aided by effective cost savings and strategic investments in staffing and technology.
Despite concerns from small businesses regarding increased costs, large companies like Greggs have expressed confidence, highlighting their already existing commitment to employee benefits outlines in the proposed legislation.
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