The 2024 Budget Challenges

ReThink Productivity Podcast

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Unlock the secrets to navigating the recent economic shifts with us as we dissect the impacts of the recent budget. Discover how the 6.7% rise in national minimum wage, cessation of Covid-era business rate relief, and increased employer national insurance contributions are rewriting the playbooks for retail and hospitality industries. These sectors, which are heavily reliant on national minimum wage workers, face a unique set of challenges. Businesses are bracing for recruitment slowdowns and inflationary pressures, with major players already strategizing to tackle billions in additional costs. We share valuable insights into salary sacrifice schemes and other proactive strategies to help mitigate these financial burdens

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1. Budget Impact on Business and Productivity (00:00:00)

2. Improving Efficiency and Reducing Costs (00:07:02)

3. Supply Chain Trade-Offs and Opportunities (00:15:39)