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Employer's Life

Home /Grooms life/Cost of living crisis

Cost of Living Crisis

The cost-of-living crisis is causing huge concern for everyone.

Over 100 equestrian employers responded to our recent survey on the impact the rise in the cost of living is having on the equestrian industry.

84% of these employers have said that their mental health has been affected by financial worries.

 

THE BREAKDOWN OF SURVEY RESPONDENTS

  • 60% of respondents were from riding schools and livery yards.
  • 10% were from dressage yards.
  • 9% from eventing yards.
  • 4% from showjumping.
  • The remainder were from a wide variety of other equestrian sectors.
 

IMPACT TO BUSINESS 

The results show some worrying statistics that employers and business owners are facing:

  • 33% said that the annual cost of running their business would increase by £7,000 or more, which is significant.
    62% have seen a reduction in people able to afford regular riding or coaching sessions.
  • Two thirds of employers who have onsite accommodation say that the unrealistic accommodation offset rate and rising energy prices limits their ability to offer this to staff. Employers who require support on-site for the horses are likely to be providing accommodation at a huge financial loss, which just isn’t sustainable.
  • 47% of employers reported liveries leaving their yards to find a cheaper alternative. This results in huge losses of income and contributes to the use of seemingly cheaper yards that aren’t always following the correct legal or safety procedures.
  • 82% concerned about the affordability of vet bills.

AFFORDING THE NMW

Alarmingly, 63% of respondents anticipate not being able to afford to pay staff at least the National Minimum Wage in the near future. This is extremely concerning as it is a legal requirement and failure to comply could get employers into deeper financial and legal difficulties, which they simply cannot afford. 

The ability to meet the requirements of the National Minimum Wage and other statutory payments was among the top risks to maintaining good employment practices, with 56% of employers identifying this.

57% anticipate a difficulty in recruiting staff due to low wages, with 23% fearing that they will not be able to meet the requirements of the Working time regulations (legislation covering holiday entitlement and rest breaks).

 

WHAT CAN EMPLOYERS DO?

  • The top measure being taken for reducing spend is reviewing hay and bedding suppliers, with 75% of employers saying that this is something that they are already doing.
  • Altering staff start and finish times can make a huge difference in terms of both salary and energy costs. Only 25% of employers are currently doing this. Consider how your yard can operate differently – for example, could the horses be fed or mucked out later to allow your team to start once it’s light – not only saving on wages but also electricity
  • Consider reducing your staffing levels to suit a reduction in your own competing or lessons, for example. 64% of employers have already reduced the number of grooms they employ.
  • Consider limiting arena riding after dusk to reduce floodlighting costs during the winter months. Only 29% of employers said that they have implemented this. It may be worth talking to liveries about how this could work without causing them too much of an impact on their riding.


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