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A Strategic Approach to
Managing Labor Costs in
Today’s Restaurant Market
May 3, 2017
2:00 - 3:00 p.m. CT
In 2016, restaurant labor costs rose 0.8% across all segments, according to BDO’s FY 2016 industry analysis. The fast casual segment saw the biggest spike at 1.3% higher labor costs than fiscal year 2015, and the quick serve and pizza segment saw the lowest spike at 0.5%.
In anticipation of new overtime rules, many restaurants enacted new strategies and adjusted wages to manage overtime. Now that the overtime rule has been postponed, there remains uncertainty around this and other labor-related regulations, such as minimum wage and healthcare-related costs for employers, making it vital for restaurant owners to focus on managing labor costs.
But with evolving consumer preferences and market saturation, restaurants can’t afford to look at labor management as only a cost issue. When restaurants are understaffed and customers have to wait, restaurants lose business. Additionally, poor service due to understaffing can decrease a customer’s intent to return and lead to lower tips for employees. Working more, earning less, and dealing with unhappy customers is a recipe for decreased employee engagement, which can cause a snowball effect of lower customer satisfaction and higher costs.
Join us for a webinar where we will discuss why labor management is a cost and service concern, including:
- Basic principles and components of a Labor Management System
- Who should own Labor Management
- Why UniFocus’ Labor Management System is the optimal solution for effectively managing labor and customer satisfaction
Join us for this free webinar...
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