The cost to the economy of a single bank holiday is £6bn according to the CBI. With four such holidays in the next two weeks this equates to a £24bn hit to the UK at a time of already struggling finances. At Fabric we certainly foresee a slow-down in recruitment activity as many people will be off work from today until May 3rd.
However, what the CBI’s calculations don’t include are the benefits to the workplace of a much needed rest and recuperation period. Employers and employees have been under severe pressure for the best part of three years now and the chance for two long weekends in a row combined with a national celebration is a welcome and well deserved break for many. The benefits really could outweigh the costs. We hope you all have a great few weeks.
- Justin Kent