The National Insurance increase in April will significantly impact the events / hospitality sector by substantially raising the cost of employing staff, potentially leading to reduced hiring, decreased working hours, price increases for customers, and in severe cases, business closures, as hospitality businesses are heavily reliant on labour and often operate with tight profit margins. This could especially affect smaller venue / hospitality businesses within the industry.
As a potential solution to mitigate these challenges, events and hospitality businesses could consider hiring third-party event staff from companies like Wave Staffing.
Utilising third-party event staffing services can offer several advantages:
1. Flexibility: Businesses can hire staff on an as-needed basis, reducing the burden of permanent employment costs.
2. Reduced administrative overhead: Wave handles payroll and other employment-related tasks.
3. Access to skilled workers: Companies like Wave Staffing provide experienced and professional event staff, ensuring high-quality service.
4. Cost-effectiveness: By using temporary event staff, businesses can avoid the increased National Insurance contributions for permanent employees.
5. Scalability: Event and hospitality businesses can easily adjust their workforce based on demand, which is particularly useful for seasonal fluctuations or special / large events.
Conclusion
By leveraging third-party staffing solutions, events and hospitality businesses can potentially maintain their service quality and operational efficiency while managing the impact of increased National Insurance contributions.
Talk to Wave Staffing about how we can help your business. Click on this link:
#nationalinsurance #staff #eventsstaffing #april2024 #Oxford #Oxfordshire #woodstock #burford #chippingnorton #woodstock #bicestsr #solution
Comments