The current economic climate has thrown drastic obstacles in the way of UK businesses – new research conducted by Nexus Global reveals.
Experts at Nexus Global share five tips on how businesses can increase their confidence and thrive through these tough economic times.
With many businesses now looking to reduce costs to protect their finances long-term, unfortunately, many won’t be able to offer bonuses or an increase in wage to employees as they did before the pandemic. However, there are other ways they can motivate workers. Giving meaningful praise is the simplest way to show appreciation and doesn’t cost a penny. Flexibility is another great option, for example, if someone has gone above and beyond, why not give them the afternoon off? Other rewards to consider include drinks on a Friday, or office treats to boost morale and make employees feel valued.
Compass Group said it expected to return to break-even at a trading level in the fourth quarter on the back of the reopening of units, an increase in volumes and “a relentless focus” on efficiencies.
The world’s biggest catering group reported a 36 per cent decline in organic, or underlying, revenues in the final quarter, an improvement on the 44 per cent fall suffered in the third quarter. For the full-year to the end of September, revenues fell by 19 per cent.
The group cautioned that the figures excluded any contract impairments and estimated that, after reviewing its contract portfolio, it would have to take a hit of about £100 million.
It said that, including impairments, it expected a fourth-quarter decline of 3 per cent in the operating margin, compared with a 5.2 per cent fall in the previous three months. It said the underlying full-year margin would be about
Walt Disney Co said on Tuesday it will lay off roughly 28,000 employees, mostly at its U.S. theme parks, where attendance has been crushed by the coronavirus pandemic, especially in California where Disneyland remains closed.
About two-thirds of the laid-off employees will be part-time workers, the company said in a statement.
A letter from Josh D’Amaro, chairman of Disney’s parks, experiences and products division, said California’s continued “unwillingness to lift restrictions that would allow Disneyland to reopen” exacerbated the impact of the pandemic on Disney’s parks. Approximately 28,000 employees in California and Florida will be laid off, about 67% of which are part-time, D’Amaro’s letter said.
American Express has announced the launch of the new Amazon Business American Express Card and the Amazon Business Prime American Express Card for small businesses in the UK.
The Cards offer a host of rich rewards and payment flexibility designed to help businesses better manage their cash flow and gain greater insight into their spending.
The Cards give Cardmembers the option to earn reward points or select a deferred payment term for each transaction, enabling them to make the best payment choice for their finances. Reward points can be earned anywhere American Express Cards are accepted and redeemed toward future Amazon purchases or applied to the balance of their monthly Card statement.
This new Card programme in the UK has been developed as part of the on-going relationship between American Express and Amazon which includes a co-branded programme in the US and a global Card acceptancerelationship.