The past couple of years have not been easy for the restaurant industry – and judging by the current state of inflation, the road’s only getting tougher.
The United States has been at the forefront of a true labor shortage, which has put a large dent in businesses – especially smaller ones. It has forced them to cut back on hours, as well as cutting down their customer service teams and other parts of operations. But this also has an effect on more popular businesses, including the likes of McDonald’s and Wendy’s.
There are a number of factors behind this, but it all began a couple of years ago with COVID-19. Many restaurants were forced to close due to health restrictions, with many trying to keep their business afloat with take-out and delivery orders. Alas, that didn’t save many from all-out closure.
But even in the face of post-pandemic, other problems have arisen. Inflation is forcing some businesses to cut back their work forces, and some can’t even find enough employees to fill roles, mainly due to low pay and lack of benefits. There’s also a gap with older people finding it more difficult to find jobs, as well as the “Technological Skills Gap,” preventing employees from being hired mainly because they don’t have the necessary skills to complete the role.
So what can come in the face of these growing work issues? Joining us now to discuss this matter further isSteve Beaman, CEO of Elevare Club, a company that provides services to small businesses. His expertise will certainly weigh heavily on this matter.
Q&A:
- In the face of COVID-19, do you believe a number of these businesses and restaurants just weren’t prepared for any kind of pandemic? Do you believe some will try to formulate such a plan for the future, or just “play it by ear”?
- There are some businesses that had to cut back services or work forces following what happened with COVID and what’s currently happening with inflation. Is there any possibility of a recovery back to full operations, or do you see things possibly getting worse?
- Do you think that some people are finding it tough to “go back to work” in the face of a pandemic? As in, they’ve been cooped up for so long for the sake of their own safety that they’re just not used to the idea? Or is it something they just need to adjust to?
- How tough is it for older people to find work right now? Some employers just don’t seem willing to give them a chance, especially if they can find younger help stepping into the roles, possibly for less money.
- How bad is the “Technological Skills Gap” when it comes to some jobs? The frustration of having some kind of college experience when it’s not within reach must be really up there for some people.
- What do you think is the proper solution for this work situation? Obviously reducing inflation to reasonable levels isn’t out of the question, but what else can employers and potential employees do?
- Where may we get more information on what we discussed and your services? Answer: You can visit our official website at www.ElevareClub.com.
Steve Beaman is a self-made millionaire who sunk to the depths of financial despair and rose back up to the heights of economic prosperity. Having enjoyed years of a happy marriage to falling into the depths of divorce, destruction, and despair, Steve has seen it all. Steve worked at Wharton Econometrics, Zacks Investment Research, and the E.F. Hutton Company. A founding partner of the Wall Street firm Chicago Investment Analytics, Steve sold the firm to Charles Schwab in 2000. Currently, Steve is CEO of Elevare Club, a holding company for a group of companies providing services for small businesses, including the capital, payment processing, accounting, legal, advertising, and even help in hiring. Steve is a licensed scuba diver, a private pilot, and the father of six children.
CONTACT: To schedule an interview with Steve Beaman, call Jerry McGlothlin at 919-437-0001 or email jerry@specialguests.com
