The hospitality industry is taking a bigger hit from this pandemic than others. Industries that require a great deal of interaction with the public, or gather in large groups, are having very tough times. Movie theaters and restaurants have essentially gone dark. Some restaurants are able to ease the pain by providing delivery or carry out services. However, in the vast majority of cases, revenue pales in comparison to what it was prior to the pandemic.
No doubt, the hospitality industry is suffering right now. Business owners should understand that there are steps they can take now to improve their odds of surviving the pandemic. We will explore a few of these ideas in this article.
Staffing
One of the areas every business owner in the industry should be thinking about right now is staff. During a recent industry roundtable discussion, John Howe, chairman of the International Association of Business Intermediaries, pointed out that staffing problems will continue long after the pandemic has paused or is over. He believes that hospitality businesses will have a tough time getting the staff they need, especially in the short run.
Howe’s key piece of advice is to work to have a line of people for key positions. This will allow you to at least get back up and running with basic operations. While it may be a while before hospitality businesses are at “full steam”, it is critical that they are able to open up in some fashion. This will translate into much needed revenue. Hospitality businesses looking to survive the pandemic should focus on filling key positions. This way, the post-pandemic re-launch can be as smooth as possible.
Scott Bushkie, Founder and President of Cornerstone Business Services, explained that there are a lot of hospitality industry people out of work right now. This represents a real opportunity. Now is the perfect time to upgrade staff. There are plenty of experienced and proven hospitality people looking for positions. The new people you bring may come with extra benefits such as bringing their customers, suppliers, and other relationships with them. If you have always wanted to upgrade your team, perhaps now is the best time to do so.
Employees are the foundation of your business. Improving your staff means you have improved your business and boosted your odds of survival. Bringing in new team members can help you prepare for the post-pandemic business environment. It also offers the potential for you to upgrade an important element within your business.