FG Solicitors
Fail to plan... plan to fail
T e importance of the logistics sector to the UK economy cannot be underplayed. T e Logistic Report Summary 2024 published by Logistics
Helen Taylor Principal - Employment FG Solicitors
UK highlighted the logistics sector’s signifi cance when it comes to the UK bottom line with a £185bn contribution to the economy with more to come. Undoubtedly, this fi gure can only be achieved by a sector founded on resilience and the capability to adapt in the face of a constantly changing political, economic and environmental landscape. Over the last few years it has faced COVID, a recession and a new government, while continuing to strive to maintain its commitment to decarbonisation. T is evident resilience is about to be tested again on
various levels: ■ T e recent announcement by the USA to introduce trade tariff s globally, including a 10% base line tariff on the UK has created greater economic uncertainty and increased costs.
■ Increased wages bills due to the rise in the National Living Wage and statutory payments such as maternity and sick pay, coupled with changes to National Insurance contributions have impacted budgets.
■ Greater employee rights from day one, including unfair dismissal rights and the removal of the three waiting days for Statutory Sick Pay; all of which will need to be planned for and costed as the fi rst changes are set to be with us by October this year.
Effi ciencies and optimisation Every business will have a diff erent view on how to meet these challenges head on but there is likely to be common ground in that greater operational effi ciencies and work- force optimisation will be required. Now is the time for businesses to think strategically and creatively about how to respond. A business review identifying where the weaknesses
are, followed by a strategic plan explaining how the weak- nesses will be remedied, will be critical to maintaining business success and resilience. T e remedial work may involve some diffi cult decisions
but may also include embracing new opportunities. Improving efficiencies may involve investment in
automation and new technologies. However, solutions may also be found in outsourcing certain services or even merging with other businesses. Workforce optimisation will require a realignment of resources to match current needs, which could involve identifying opportunities to reduce hours at less busy times, upskilling colleagues to be able to work fl exibly across the operation, or a reduction in head count leading to redundancies.
LOGISTICS & WAREHOUSING
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