by Bob Gershberg, CEO/Managing Partner, Wray Executive Search
An article in the New York Times last month predicted that as many as 75% of independent restaurants could close permanently because of the COVID-19 crisis.
Independents outnumber chain restaurants in the U.S. Three-fourths of mom-and-pops never reopening is hard to fathom. If a number remotely close to that is realized, it will compromise millions of livelihoods both direct and supportive.
The SBA PPP program as well as the Economic Injury Disaster Loan Emergency Advance were both tied to number of employees to bias against the true small independents. How insane! Who needed a $10,000 emergency grant more than the small Indies? In many cases it could have helped save them.
by John Gordon, Principal & Founder, Pacific Management Consulting Group
We are all hoping now to get to “the other side” of this brutal pandemic that has impacted us all so unfavorably. While confusion and the “fog of war” are still present, there are some encouraging signs.
For one, medical theory and technology are at the foremost point of development in mankind to allow for the development of an antiviral vaccine. We can reasonably assume a drug will be developed to beat this virus. Not surprisingly, such drug development was the number one wish list factor cited by a series of full-service restaurant concept CEOs panels recently. In another critical dimension, the momentum of same store sales has improved week by week through April. Sales bottomed out in late March and early April in the US and have recovered from there. And many states have begun to reopen to varying degrees.
"The ultimate measure of a man is not where he stands in moments of comfort and convenience but where he stands in times of challenge and controversy"
~ Martin Luther King Jr.
ExecutiveChat
Update on CORE – Children of Restaurant Employees – from Sheila Bennett, Executive Director
by Rebecca Patt, Senior Vice President of Development, Wray Executive Search
I understand you’ve recently clarified CORE’s communications defining the fact on who the organization provides grants to restaurant employees with children. Tell us about the population that CORE strives to serve:
CORE provides grants that equate to financial relief to foodservice and beverage service employees with children when either the parent/guardian or child faces a health crisis, injury, a death, or natural disaster.
How many applications have you been receiving lately, and how many grants has CORE given?
This year, we have received more than 4500 applications. More than half of the early applications did not fit the CORE grant criteria, which is a big reason we tightened up the language. We currently receive an average of 260 applications a week. As of Friday, May 8, we have granted out $345,000 to help families.
by Tom Rollert, Vice President, Wray Executive Search
For a number of years we have been providing our clients an opportunity to utilize Profiles International psychographic assessment tools to more fully inform selection, and development of their key hires. Following is an excerpt of a brochure for the most popular assessment, the PXT Select. This information is intended to provide you with an understanding of what the PXT Select is and does. If you are interested in learning more, just contact me and I’ll be happy to supply you with a complimentary assessment, so you will be able to evaluate its usefulness more fully.
Make Talent Decisions With Confidence—Every Time
No one enjoys dealing with the fallout of a bad hiring decision, especially when it puts their organization’s well-being in jeopardy. But there’s no need to put your company at risk. The PXT Select™ assessment gives your organization objective, reliable, and accurate data so you can confidently hire, manage, and retain productive employees.
by Rebecca Patt, Senior Vice President of Development, Wray Executive Search
Inspired by Melissa Doolin-Koehne, Executive Director of Sales and Industry Relations at Black Box Intelligence and founder of
Some Good News: Hospitality Edition group on LinkedIn, I am resharing a compendium of good, uplifting news coming out the hospitality business, to shine a light on the caring and resilient nature of the human spirit in this business:
KFC announced it will provide $500,000 worth of groceries to team members in over 4,000 restaurants across the US restaurants. KFC franchisees have joined forces with the KFC Foundation to create a Grocery Assistance Fund, which will provide $100 grocery gift cards to thousands of US employees as a gesture of appreciation for their service in keeping people fed during this difficult time.
Yum! Brands Reports First-Quarter System Sales Decline of (3)% with a Same-Store Sales Decline of (7)% Offset by 4% Net-New Unit Growth; GAAP Operating Profit Decline of (42)%; Core Operating Profit Decline of (6)%
