Foodservice Updates is designed to help foodservice operators keep on top of all the industry news and provides tips for keeping business running smooth. We endeavor to provide the latest tips and solutions to keep you in the know.
How can you boost employees’ financial stability?
At a time when restaurant operators are scrambling to find staff like never before – and perhaps lowering standards to do so – Chipotle managed to attract nearly 24,000 applicants through an online job fair recently. This occurred a week after the brand announced it was raising its minimum wage to $15 per hour. It’s no coincidence: Restaurant workers are demanding greater financial stability. While not every restaurant has the resources to raise hourly wages, it’s still a good time to scrutinize labor expenses and address weak points. Even before the pandemic, the turnover rate in the hospitality sector was higher than the turnover rate in nearly all other sectors. According to The Restaurant Technology Guys even an $8-per-hour employee can end up costing a company around $3500 in direct and indirect turnover costs. The more you invest in recruiting and retention up front can minimize your costs in recovering after an employee leaves. Even if you’re unable to raise wages, taking steps to prevent payment inaccuracies and ensure employees can access their wages and tips right away can boost morale and retention. Restaurant Dive report says, 31 percent of financially insecure workers have quit a job because of a lack of financial wellness. On the flip side, more financially stable employees (87 percent) are likely to remain in their job in the next year, as opposed to workers who are financially unstable (58 percent). Every little thing you can do to promote financial stability can help you keep the people you hire.
Pandemic fixes to make permanent
Seemingly all restaurant operators have had to adjust how they operate during the course of the pandemic, whether by enabling curbside pickup, designing delivery-friendly menus, redesigning a strip of sidewalk to accommodate tables in any weather, or otherwise. But even as we ease back into more normal conditions, it will likely benefit you to retain many of the changes you have made. For one, make your outdoor dining areas usable year-round with the help of solid structures, sturdy weather-resistant canopies, heat lamps and even those dining bubbles used widely last winter. This is simply about scrutinizing your entire real estate footprint so you are making money from each square foot. Along those lines, try flexing your space to better accommodate carryout and delivery orders during lunch, or offering promotions to remote workers looking for a temporary workspace or snack break during your quiet periods. Your takeout menu is another area that needs to hold strong with foods that travel well, coordinated cocktails and special touches like notes or candies included in the bag. Continue to seek out technology that will help you streamline ordering and payment, minimize lines and turn tables faster. Finally, maintain your efforts to show your commitment to cleanliness. Hand sanitizers should be ready for guests as they walk in your doors – and asking guests to sanitize their hands before they sit can help you show them you care about safety.
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