Brexit worries for Restaurants

by | Jan 21, 2019

As the repercussions of Brexit come closer, more and more industries are discovering unexpected ways they will be impacted. For many this will involve a reduced pool from which to hire employees. This particular problem will hit the hospitality, food and beverage industry very hard.

 

According to a survey by Planday, restaurant managers are most worried about reduced access to labour with 1 in 10 hospitality workers planning on leaving the UK because of Brexit. This will inevitably push up wages and lead to a skills shortage.

 

Bars and restaurants based in bigger cities like London depend heavily on EU nationals staffing their venues.  According to a report from KPMG they estimate that a quarter of the 3 million people working in Britain’s hospitality sector are EU nationals.  The uncertainty of Brexit and the right to work for these EU nationals means many could leave with few arriving to replace them.

 

Employers with good employee retention will naturally suffer the least. As Entrepreneur.com and Planday both agree, discussing career paths with employees and improving employee engagement can not only boost performance but also encourage loyalty in uncertain times.

 

Baxterworld are chartered management accountants who specialise in providing outsourced finance departments for the food and beverage industry. They assist the set-up of fully integrated systems to connect your POS, bookkeeping, bank reconciliations and payroll to make your business well informed and easy to run. For more information visit our homepage.