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How Brexit could impact retaining and recruiting Lloydspharmacy staff

Lloydspharmacy: Final Brexit deal may “impact employee retention"
Lloydspharmacy: Final Brexit deal may “impact employee retention"

Brexit may impact the ability of Lloydspharmacy to retain and recruit staff, the multiple has predicted.

Lloydspharmacy “celebrates its diverse workforce and recognises a number of its employees are EU nationals”, it said in its financial reports for 2018-19, uploaded to Companies House on Sunday (January 5).

But the details of the final withdrawal deal to be agreed with the EU, “and how current or potential future employees react to it”, may “impact employee retention, as well as future recruitment”, the multiple said in the document.

It expects these “effects on the workforce” to “play out over a longer time period” than the UK’s actual departure from the EU – now expected by the end of December.

This will “allow the business to react as appropriate”, it added.

Potential business disruption

While the “ultimate terms of departure” from the EU “remain subject to some uncertainty”, the “principal risks…are around ensuring supplies of pharmaceutical and medicinal products to our customers remain uninterrupted”, Lloydspharmacy said in the document.

“The risk of fluctuations in exchange rates and associated effects on parallel trade flows have the potential to cause business disruption and profitability impacts”, it said in the document.

“An assessment has been performed of such potential supply risks and, where appropriate, plans are in place to secure supply and minimise business disruption.”

The multiple “continues to seek advice and clarification from the government regarding the withdrawal” from the EU and “constantly updates its plans to mitigate the…risks”, Lloydspharmacy added.

Lloydspharmacy told C+D this morning that it has “made our EU national colleagues aware of how they can apply for settled status and continue to support any of them that wishes to stay in the UK after we leave the EU”.

“Our company has strong roots in this country and in the rest of Europe, a broad portfolio and a sustainable business,” it added. “Our customers and patients trust in our teams and the services we provide and this will continue after Brexit.”

7 Comments
Question: 
Do you think Brexit will have an impact on your ability to retain staff?

Paul Dishman, Pharmaceutical Adviser

Zero sympathy for the multiples. Look after your staff properly and you won't have a problem. It's not rocket science.

Industry Pharmacist, Director

 

This 'issue' is going to affect the whole community pharmacy sector. The problem hasn't been expressed in clear terms. Brexit is causing an issue because it disrupts the supply of cheap labour which multiples have been capitalising on for decades. It's not so much an issue of worrying about pharmacist supply for patient safety it's just the fact that the supply and demand relationship will shift in favour of the pharmacist. 

Larger companies who have historically stagnated pay will have to pay up for pharmacists to fill their positions otherwise face the risk of closures and risking patient safety in favour of the bottom line. When I say pay up I mean pay in line with inflation (both salaried and locum). Afterall the pharmacists salary is the single biggest expense on the P&L sheet. 
 

Let's be honest the pharmacist is how the business makes money, clinically checking prescriptions with low rates of error, pushing services, continued training (in their own time), developing the skills of support staff alongside normal duties. From a patient perspective, they don't choose to come to Lloydspharmacy for 'Lloydspharmacy' branding, they come for an efficient, well led, safe and effective service which all boils down to how well the place is run by the RP and support staff. 

It's bad business sense to underpay your most vital staff member. Pay them enough to not worry about their salary and their mental health, whether that be protected breaks included in salary or a larger more appropriate salary that reflects the training and on going costs of being registered. 

 

Benie I, Locum pharmacist

Have to hurry up with those apprenticeships. We need those 16 year old £6/hour newly qualified pharmacists asap. Patient safety is an aboslute must and fortunately we're blessed with the GPhC and nothing gets past them.

Axed Locum, Locum pharmacist

Hopefully, if the EU pharmacists leave there will be consistency and rise in the standard of the pharmacy services, as these said services will be delivered by pharmacists who have undergone the mandatory "Pre-Reg" exams.And a rise in pharmacists remuneration, both locum and employed, who have been exploited for too long!!

Benie I, Locum pharmacist

Stupid article.

Pay reasonable wages, provide safe working environment, treat with respect.

Absolutely nothing to do with brexit.

You're welcome.

 

Clive Hodgson, Community pharmacist

If Lloyds do wish to recruit and retain more pharmacists post Brexit the answer could simply be to pay more and/or improve working conditions.

I am sure the costs to Lloyd’s could be met by reducing the dividends paid to their overseas based shareholders in Celesio and their parent company (McKesson Corporation) in the USA.

Farmer Cyst, Community pharmacist

No more £13/hr locums from south European countries probably will impact the bottom line - hard to feel bad for Lloyds though.

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