Comprehensive Report: Inflation's Impact on Hays Plc and Strategies

This report analyzes the impact of inflation on Hays Plc, a major player in the tourism industry based in the United Kingdom. It examines the company's performance during periods of inflation, focusing on the causes and effects of rising prices, including the impact of the COVID-19 pandemic, poor monetary policies, wage inflation, and supply chain failures. The report details the models and theories used to address inflation, such as contractionary monetary policy and long-term inflation expectations, and how Hays Plc applied these to navigate economic challenges. It also explores the company's strategies, including diversification and the adoption of IFRS, to mitigate negative impacts and improve its financial performance. The report provides an overview of Hays Plc's products and services, highlighting how the company adapted to the challenges, and concludes with a summary of findings and recommendations.

MGBBT0FYP POSTER
INTRODUCTION
 Inflation is the rate of increase in price over the given period. It is the
prevailing circumstances where country face issues of low demand
and higher price in their products and services.
 It impacts all the business and its affects the business performance and
its profitability. In the case of Hays Plc has taken as consideration and
it is operated in the tourism industry and it went through from this
stage.
 This also discuss the causes and period of inflations has company
faced in the past.
REFERENCES
Afanasiev, O.E., 2022. Tourism Through Troubled Times.
George, R., 2021. Tourism and Hospitality Products,
Branding, and Pricing. In Marketing Tourism and
Hospitality (pp. 249-283). Palgrave Macmillan, Cham.
Hayat, K., 2022. The transformative role of social media in
the business-to-business tourism distribution channel.
In Handbook on Tourism and Social Media. Edward
Elgar Publishing.
Theories and models
Contraction policy: it is the monetary policy that has been used by
business to remove the negative impact of inflation on business. The
contraction monetary policy, it consists the different packages which
helps in attract more customer.
Long term inflation expectations: The most effective model is long
term inflation expectations. This model is believing that if inflation is
take place than it may be taken for last longer and it is not good for
business health and its reputations. So business that policy which helps
company to combat with the such nation for long term period (Lin,
2020). This mod helps business to expand their global operating
business as well as they also bale to expand their branches of company
and make it more affluent in nature.
Overview of the organization and their product and services
Hay plc is the independent travel agent in tourism industry and it
located in England, United Kingdom. According to the research in
statistics data, Hay Plc have the largest retail travel shop in United
Kingdom. Company also use the other tour operator such as TUI
and Jet2 to offer package holidays to their customers and provide
them better quality services. Company start their small retail store
behind his mother clothing store at first time. After that company
increase their turnover and also increase the job satisfaction level
of their employees so, it makes profitability for business. It large
group headquarter in United Kingdom. Company provide travel
arrangements. Hays travel Ltd.
Period and causes of inflation the entity has faced in the past
Pandemic impact: it had significantly negative impact on
business in 2021 because company was invested in undisputed
the global leader in the specialist recruitments. It characterizes
the Hays response to the challenges and emerging opportunities
for business. Remote working during pandemic to highly
dislocated market.
Poor monetary policy of government: it was reason that create
the reason of inflation. Due to the unappropriated development
of the monetary policy by United Kingdom government.
According to the research.
CONCLUSION
As the conclusion, this poster discussed the causes and period of inflation of Hays
plc in some past years such as 2020-2021. This explained the inflation rate of
company which faced by business and some negative impact such as lack of
innovation, feedback of customer and poor development strategy, etc. there some
models and theories helps business to deal with business in effective and efficient
ways and improve the performance of business in order to achieve success.

INTRODUCTION
 This report will also elaborate the various reliable resources that helps in identify the models and theories that will helps in reduce the negative
impact of inflation as well as increase the positive impact (George, 2021). There are some charts and images which helps in understand the research.
This poster will discuss the overview of business and their products and services..
Overview
. Offer travel and tourism arrangements (Shannon, 2020). The organization offers late deals, holidays package, cruises, flight booking, ski holidays, transfers, car hire, currency exchange services and
insurance. Company also organize the bargain holidays for the numerous destination for customers worldwide. Company operate their 450 branches. Hays plc holidays packages includes the flight
and that all are protected financially by the ATOL. Its stands from the air travel organizers licence it is also backed by the United Kingdom Governments. In 2020, company retailing around 100
employees and took over the 20 tailor made travel shops. Company is more specialize in provide the quality holidays and good values and excellent customer services.
About products and services of business helps in provide better quality and excellent services to its customer through fulfil better expectations and perception. It provides various better quality
facilities and align with international customer base with protection and safety. Company provide better quality products and services for attract more customer.
Causes of inflation has faced in past year.
In united kingdom, company face struggle to find talented employees within the organization. This leads war for talent and its drive in wage inflation for foreseeable future. The overall underlying wage
inflation start to enhance with the pocket of high inflation in the skill short markets. There are sign of skill shortage and wage inflation in tourism industry (Page and Connell, 2020). In the context
of growth rates, long term rate are based on the business management forecast which includes the external sources of estimate growth rate of 2.0%. it also reflection on the long term wage inflation
and GDP expectations drive fee growth.
In the context of pension scheme, there are two inflation are which face by Hays plc company such as CPI and RPI inflation. The CPI inflation assumption is determined the 0.7% as 2020 and it compares
to 2021 was 5.0% whereas RPI inflation to the liabilities of less 0.2% in 2021. According to research, Due to increase in the inflation are it affects business negatively. There are some major reason
of inflation which face by Hays plc that has been described below:
Poor monetary policy of government: it was reason that create the reason of inflation. Due to the unappropriated development of the monetary policy by United Kingdom government. According to the
research. It was reported that high rate of inflation rate so, there was not right to industry for circulation of money within the economy ( Afanasiev, 2022). Furthermore, people are not able to fulfil
their basic need in appropriate ways within their own country.
Pandemic impact: it had significantly negative impact on business in 2021 because company was invested in undisputed the global leader in the specialist recruitments. It characterizes the Hays response
to the challenges and emerging opportunities for business. Remote working during pandemic to highly dislocated market. It is uncertain and impossible to predict such as the extreme fluctuations.
Due to pandemic business was not able to provide better quality services to target customer. Firms are not able to plan better quality activities in company. Hays plc forced to keep price in different
packages that not allow attracting more customers.
Supply chain failure worldwide: tourism supply also depend on the various factor such as climatic, seasonal, geographical, international and political factors. Tourism business fully depend on the supply
and demand (Hayat, 2022). Supply chain of business fail due to the goods and service of business because they could not supply its goods and services in appropriate manner. Effectiveness of
supply chain are mots important because allow business in easy consumptions for different products and services.
Thus, the inflation were causes by the various major problems but the main problem was excessive demand during the covid pandemic time that force company to produce the goods and service
with large quantity and higher price. Hays plc mainly focus on their employees and customer because they help them to grow their company performance and its productivity. Both helps in directly
positive impact on business. It was most difficult for company to satisfy their employees and customers (Zhang, 2020). It was also difficult for business to satisfy their customer due to the
pandemic because costing are increase. It affects economy in the unexpected ways and there are high risk and uncertain situation which face business as well as it is most difficult for tourism
business to overcome the negative impact of various factors on performance of business.
Research resources, models and theories which used to decline the negative impacts of inflation and enhance positive impacts.
There are various types of models and theories which helps in handle and deal with situations of inflation and also helps in reduce the negative impacts which bring on business. Hays plc face some
troubled issues which led to trap in condition.
Contraction policy: its is the monetary policy that has been used by business to remove the negative impact of inflation on business. The monetary policy is the quite drastic in 2020 and inflation take the
fluctuation upward which lead in the higher inflation (Hays and Kirilenko, 2021). There are various types of causes but main was covid pandemic so, it is important for business to apply this model.
Company adopt the new monetary policy. The contraction monetary policy, it consists the different packages which helps in attract more customer.
Long term inflation expectations: The most effective model is long term inflation expectations. This model is believes that if inflation is take place than it may be taken for last longer and its is not good
for business health and its reputations. So business that policy which helps company to combat with the such nation for long term period (Lin, 2020). This mod helps business to expand their global
operating business as well as they also bale to expand their branches of company and make it more affluent in nature.
According to the financial statements of company, in year 2021 operating profit was 95.1 as compare to the 2020 as 996.2 In the operating profit margin is low is indicate the operating cost
are high. It helps in measure the ratio of profitability (Sparrow, 2018). Therefore, operating profit of Hays plc is decline as compare to previous years so, it indicates that profitability of business is too low
and its affects business in negative ways. So business also require to adopt the different strategies which helps business to improve its economy and also boost.
For business, to keep the long term impact with entity with some new hotels in 2021. so, customer are able to pay more where the inflation was not impact and customer was able to pay more for business.
This was the strategy for business diversification, so it also found that the theory and strategy of diversity is quite which can be used by the business to deal with condition of inflation (Stjernfeldt, 2021).
Business also imparted the IFRS so, it a drive control in financial and non financial aspects. This helps in reduce the negative impact on business and government also helps business to take some keep
steps with the government policies. Company also able to provide new services and products to its customer with better quality experience and expectations.
APPENDIX
REFERENCES
Hays, D. and Kirilenko, A., 2021. Cryptocurrency regulation and enforcement in the US and Europe. Fostering FinTech for Financial Transformation, p.26.
Lin, M.C., and et.al., 2020. Financial Well-Being in the Perception Process of Purchasing Overseas Tourism Services.
Page, S.J. and Connell, J., 2020. Tourism: A modern synthesis. Routledge.
Shannon, R., 2020. Spreading the word: using brand management and innovation in processes to develop a service business. the case of hays in luxembourg.
Sparrow, P., 2018. Macro talent management in the UK: Patterns of agency in a period of changing regimes. In Macro Talent Management (pp. 70-100). Routledge.