Catering and hospitality industry set to suffer from skills gap; investment in UK catering recruitment key; new software will be needed to compensate
SHORTAGES In staff are set to plague the UK’s catering sector after new immigration regulations set to be introduced by the government inhibit low-skilled recruitment.
The Prime Minister stated that “a new skills-based system will make sure low-skilled immigration is brought down”, with priority given to high-skilled workers.
A lack of low-skilled workers will ensure that as many as 90 per cent of hospitality-based roles may not be filled, therefore a shift in how internal recruitment is undertaken will be imperative.
Online software can be installed to provide flexible interfaces for casual workers; having staff that have greater autonomy over their working hours and availability will have to be an option for businesses who need to adjust quickly ahead of the impending exit from the European Union on March 29, 2019.
New initiatives will have to be financed, whether that is derived from software, having greater emphasis on equipment to improve services, outsourcing of staff, or paying increased wages to attract UK workers.
The shortages will have an impact, therefore covering it is imperative, but losing out financially certainly is not.
Investing in new software platforms, employee apps and outsourcing schemes can be done through either asset finance or a business loan with Portman.
Utilising working capital could be harmful to cash flow. Protect your business from this issue with invoice, VAT, or simple cash injection finance will be crucial to negating the impact of the impending low-skilled staff shortages.
Asset finance itself will be integral to improving the efficiency of recruitment at a time where unavoidable changes to the industry are set to take place, with immediate consequences.
UK Hospitality chiefs have confirmed it has been difficult to source British workers in the past, so changes need to take place across the catering and hospitality sector to compensate for this.
Those within the industry have began lobbying Theresa May to reach a ‘sensible and pragmatic’ solution for the sector, but it remains likely the current proposals will take effect ahead of March 2019.
You can save your business vast quantities of capital through the acting sooner. Having the software, plans, or equipment in place to mitigate the changes will ensure that you will enjoy preferential rates and have the capability to react to any eventuality or demand on your company.
“We are facing a very real danger of chronic staff shortages,” said Kate Nicholls, Chief Executive of UKHospitality.
The vacancies left unfilled will cover anything that is regarded by the government as Tier 3. These are roles where you do not have any post-16 education or more than limited on-the-job training.
Portman Asset Finance will cover the cost of securing your new IT software or other pieces of equipment needed to safeguard your business against the staff shortages, leaving working capital to absorb any outstanding invoices, costs, and wage demands.
Head of Marketing at Portman Asset Finance stressed how important having the staff available for business operations was. He said: “The potential staff shortages will mean drastic consequences for those across the catering and hospitality sector.
“By taking steps now to invest in interfaces that will safeguard business operations and cover the cost of new recruitment policies, cash flow will be protected and your business secured.”
“Asset finance provides a solution that saves you money through eliminating tax liabilities and securing working capital.”
React to the impending hospitality staff shortages now by calling 01604 761 276 for catering asset finance solutions from Portman.