The introduction of the National Living Wage could provide benefits in terms of happier, more engaged employees, according to Steve Rockey, head of people at restaurant chain Big Easy.
Speaking at a HR magazine round table event on the national living wage and workforce management, kindly supported by workforce management solutions provider Kronos, Rockey said there will be a “cost to bear, but an opportunity as well.”
Rockey also warned that the impact of the National Living Wage will be felt differently by large and small organisations. “I think smaller businesses will probably suffer a little bit more,” he said. “In terms of the percentage of their wage bills, this will be a substantial additional cost for them to have.
“For medium-sized businesses, there is a real opportunity to look at your product and your sales, especially if you are expanding as a business, to see how you can absorb that, either within the business or by passing the cost on to customers.”
