Sir Tim Martin is the founder of Wetherspoon, one of the UK’s biggest pub chains. In our latest episode he sits down with WorkL founder Lord Mark Price for an honest conversation about what it takes to run a business that depends on people.
It’s already making headlines. The Mirror quoted the episode in its coverage of the pressure on UK pubs.
The moment everyone’s talking about is the economics of a pint. About £1.50 of a £5 pint goes on wages. In a supermarket, staff are about 12% of the price.
“When you put up the minimum wage by 10%, it’s 15p on a pint in a pub and it’s about 1p or 2p in a supermarket. So the gap is widening.”
In this episode, you’ll hear:
- Why a third of every pint is people, and what that means for pricing
- How rising wage costs hit people-heavy businesses differently
- What leaders can learn from a business where the team is the product
You don’t have to agree with every view to get something from it. It’s a straight-talking look at a question every leader faces: when your people are your biggest cost, how do you make sure they’re also your biggest strength?
Listen and watch the episode wherever you get your podcasts!
And if it gets you thinking about your own working life, the free Happy at Work Test is a good next step:
