Ed Parkin’s Post

I would love your feedback. When do tip prompts of 20%+ start to impact employee compensation strategies and in the process drive guest transactions or guest counts down? If menu prices are up a minimum 15% in the last couple of years and tip expectations are up another 15%+ at what point do guests start to visit locations less based on cost? These are important questions in the restaurant industry, and according to recent reports, the answer is now. Many operators across North America are experiencing a 10-20% decline in guest traffic so far in 2024. It's clear that we need to address employee compensation, but we also need to be mindful of the long-term impact on guest behavior and transactions. Have you experienced similar challenges in your restaurant or hospitality business? If so, please share your best practices and insights in the comments. Let's work together to find solutions that benefit both employees and guests. #restaurantindustry #hospitalityindustry #employeecompensation #guestbehavior #guesttransactions #bestpractice Afshin Mousavian

When do tip prompts of 20%+ start to impact employee compensation strategies and in the process drive guest transactions or guest counts down? If menu prices are up a minimum 15% in the last couple of years and tip expectations are up another 15%+ at what point do guests start to visit locations less based on cost? These are important questions in the restaurant industry, and according to recent reports, the answer is now. Many operators across North America are experiencing a 10-20% decline in guest traffic so far in 2024. It's clear that we need to address employee compensation, but we also need to be mindful of the long-term impact on guest behavior and transactions. Have you experienced similar challenges in your restaurant or hospitality business? If so, please share your best practices and insights in the comments. Let's work together to find solutions that benefit both employees and guests. #restaurantindustry #hospitalityindustry #employeecompensation #guestbehavior #guesttransactions #bestpractices

Employee retention poses a significant challenge in the restaurant industry, especially during labour shortages. However, even during periods of economic growth, retaining employees remains a pressing concern for restaurant owners. According to the Bureau of Labor Statistics, the annual turnover rate for accommodation and food services employees stood at 86.3 per cent in 2021, indicating a persistent issue. In 2017, the turnover rate was slightly lower at 72.4 per cent, underscoring the long-standing nature of this problem. Read More: https://lnkd.in/g6zJKxWP #EmployeeRetention #RestaurantIndustry #LaborShortage #BureauOfLaborStatistics #TurnoverRate #TeenageEmployees #SeasonalJobs #WorkforceChallenges #EmployeeManagement

🌟 Introducing The 2025 Restaurant Workforce Report 🌟 Running a restaurant takes passion and dedication, and the key to success lies in the people behind it. But running a profitable restaurant isn’t without its hurdles, especially in today’s competitive market. In this report, we’ve surveyed nearly 1,000 restaurant managers to uncover the challenges they faced in 2024 and the strategies they used to overcome them... so you don't have to do it alone. This resource will help you to: 📣 Discover effective hiring and retention strategies used by top restaurants. 💸 Gain insights into wage trends and how regional variations impact compensation. 🏆 Compare your restaurant’s technology adoption with industry benchmarks. This report has the most up-to-date challenges that your fellow restaurateurs are navigating, with actionable solutions on how to solve them. Get ahead of 2025 with expert advice to help you turn workforce challenges into opportunities for growth. Dive into the report: https://bit.ly/40OE40X

📣 Calling all companies in the Hospitality and Restaurant space! 📣 Join me for an insightful webinar panel discussion on addressing the labor crisis for Hospitality and Restaurant employers! Recruitment and retention have always been challenging in our industry, but the post-pandemic landscape has taken these challenges to new heights. The labor crisis we are facing directly impacts employers of all sizes, jeopardizing revenue attainment and brand reputation. To shed light on this critical issue, Gallagher has assembled a panel of industry-leading Senior HR Leaders who will share their insights and best practices for addressing this workforce crisis. Don’t miss the opportunity to learn from industry experts facing similar challenges. Reach out to me if you're interested and I'll help you get registered! I hope to see you there! :) #EmployeeBenefits #Hospitality #Restaurants #Webinar

🍔 🍕 The National Restaurant Association has released their 2024 State of the Restaurant Industry report, and business is BOOMING! 🚀 Sales are set to hit a historic $1 trillion(!), and 200k jobs are being added, bringing total employment to 15.7M. But this will be an uphill battle; there are several challenges impacting the restaurant industry as a whole. ⚙ Staffing Needs: 45% of operators need more staff to meet demand; 27% say recruitment and retention are top challenges. 📈 💰 Rising Costs: 98% face higher food & labor costs; 60% are seeking new suppliers. 💪 Competition: 45% expect tougher competition in 2024; 76% say technology gives them an advantage. ...what I don't think many restaurant leaders realize is how MUCH of an advantage technology could give them. Standard WFM systems are designed for full-time, salaried workers that follow a traditional employment model. They weren't created to support industries with flexible, contingent, temp, hourly or shift-based workforces. So we built one. 💡 Looking to simplify, streamline, and centralize your shift-based workforce operations? Let's connect. #Restaurants #RestaurantIndustry #WorkforceTrends #FutureOfWork #HRTech #WorkforceTransformation #WorkforceInnovation #WorkforceManagement #ContingentLabor #ShiftLabor #HourlyLabor

High levels of staff turnover is an issue that constantly plagues the hospitality industry. In fact, data suggests that hospitality sees the highest rates of employee churn across all UK industries, with a reported 37.6% of workers leaving their jobs each year. Whilst we aren't experts in employee retention and wellbeing, we do know coffee. In our latest article, read our 5 top tips for coffee shops to better combat the negative effects of high staff turnover. https://lnkd.in/ev7jSWY5

Labour costs: it’s officially what everyone’s talking about. At the lunch! show last week, it was a subject on every single panel. People are understandably worried - how can we make a profit (and keep operating) when we can barely afford labour? How can we plan for the future when we don’t know how much costs will increase by next year? Importantly, it’s not that hospitality businesses don’t want to pay a fair wage. They just need more government support if these costs keep increasing. But until that support comes (if it does), operators must find ways to cover these costs and boost productivity with their existing teams—even if those teams are leaner than before. - It’s about building strong, efficient teams and making the day-to-day easier to increase retention. - It’s about using flexible technology - not to replace humans, but to improve the quality of the customer journey by freeing your limited team to deliver the perfect experience. - It’s about learning from brands that are doing all this and putting themselves on a growth path despite rising costs. On that third point, we’re incredibly lucky to have Tommy Giraux, Head of Restaurant Systems at Honest Burgers, and David Ellison, COO at Deep Blue Restaurants, join us for our webinar, ‘Optimising Talent and Technology for Success’. Learn live from these two industry experts and hear how they’re overcoming labour challenges in their respective businesses. It’s happening this Thursday 26th September at 3pm - you can register your place with the link here: https://lnkd.in/eYgHTcdr

While the compensation market is more stable in 2024 and recent surveys are showing lower annual increase percentages for front-line jobs, the approach to total rewards has changed. Check out what we're seeing and how it impacts the retail, restaurant and hospitality industries. #compensation #retail #TotalRewards #hospitality

How to maintain your unique company culture in your business.  A client approached us with two restaurants in different locations.  It seemed there were mixed messages between sites and team members, making it difficult for the business to grow effectively.  Bespoke HR devised and hosted a company culture afternoon, for all staff. It took around three hours, working around normal business hours and staff were paid to attend.  Read the full case study on our website to find out how they got on.  https://lnkd.in/eyyqUzMV #CompanyCulture #CultureDay #HRSupport #HospitalityHR #TeamManagement