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Viewpoint
Retention & Turnover - the Good, the Bad and the Ugly
by Bob Gershberg, CEO | Managing Partner, Wray Executive Search
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Bob Gershberg |
Lost productivity, customer dissatisfaction, reduced business, exit expenses, recruiting, interviewing, hiring, training, and orientation; the long list of turnover costs has been drilled into our heads for decades. Cost estimates of losing an employee range from 30% of annual salary for entry level to 400% for executive level positions. I often have written about and preached the value of solid employee retention programs. The truth is turnover can be good, very good in fact, for performance-driven companies. The main reason being, a workforce filled with under-performers and stale managers is far costlier than the expense associated with the recruitment and training of fresh, ambitious individuals.
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Traffic Spiraling, Franchise Relationships, and Other Industry Trends to Watch
by Kevin Stockslager, Vice President, Wray Executive Search
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Kevin Stockslager |
After a negative January and February for the industry with regards to same store sales, March brought some optimism to close out Q1 of 2018. The 0.8% increase in same store sales during the month was one of the best results for the restaurant industry over the past two years and helped to inflate the overall first quarter results for the industry. While traffic was down again in March (-2.1%), a trend not looking to reverse anytime soon, average check size did show continued signs of growth, up 2.8% compared to the first quarter of 2017. The positive same store sales numbers for March were much needed, helping the industry recover from a slow start to the year after a strong close to 2017.
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"Leadership is about keeping your team focused on a goal and motivate to do their best to achieve it. It is about laying the groundwork for others' success, and then standing back and letting them shine."
~ Chris Hadfield
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Financial Edge
Leading Restaurant Companies Successfully Integrate Technology to Accelerate Future Growth
by Daivd Ulrich, Executive Vice President | Partner, Wray Executive Search
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David Ulrich |
Many leading restaurant companies, such as McDonald's, Starbucks, Domino's and Panera Bread, have successfully integrated new technology tools and platforms to address current issues like labor costs, branding, and driving future growth to pull away from their competitors. The proliferation of company apps, kiosks, and other related technologies have enabled these organizations to set up a new level of growth beyond the typical same-store sales metric that most brands seek to measure their future success and opportunities.
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Executive Chat with Andy Weiderhorn
President & CEO of FAT Brands, Inc.
by Rebecca Patt, SVP Development, Wray Executive Search
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Rebecca Patt |
This month, Rebecca chats with Andy Weiderhorn at the Franchise Times Finance and Growth Conference in Las Vegas, where he was honored as a Dealmaker of the Year!
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Restaurant Same Store Display Changes Needed
by John A. Gordon, Principal and Founder of Pacific Management Consulting Group
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John A. Gordon |
We all know the single number in the restaurant world that tends to drive the most commotion-- career upside and aggravation, fortunes made and lost, investor excitement and confusion and both good and bad tactical solutions launched is the same store sales trend number. It is a very sensitive metric. Yet restaurant operators explanation of the moving pieces behind the number is not what it could be; restaurants have some flexibility to display explanations to avoid perception problems.
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Delivery & Take-Out: 2018 and Beyond
Evaluating the Overall Brand Image and Performance from a Take-out and Delivery Perspective
by Bellwether Food Group, Inc., an organization which offers help with developing trends, research, brand positioning and strategy development.
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BELLWETHER Food Group, Inc. |
One of the essential questions today is the role of the take-out and delivery business, specifically in casual dining, polished casual, and fast casual. It's the one remaining growth opportunity as many legacy dining brands fight for relevance and survival. The overall restaurant landscape in the US is not growing - it is almost impossible for most brands to significantly change their footprint by building new units. The question is: where can growth come from?
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