by Bob Gershberg, CEO/Managing Partner, Wray Executive Search
In a 2017 study by Gallup, it was found that only 15% of the world’s one billion workers were engaged at work. As alarming as that was, the number has grown minimally since. It is incumbent upon us to ensure that employees achieve a positive emotional connection with the organization as well as with the tasks assigned to them. Employee engagement is crucial for maintaining a productive and motivated workforce.
We must establish clear goals and expectations. Clearly communicate the organization's vision, mission, and objectives to employees. Set clear performance goals and provide regular feedback on progress. Communication must be two-way. Encourage open communication channels where employees feel comfortable sharing their ideas, concerns, and feedback. Implement regular team meetings (but not too many), and digital platforms for collaboration and suggestions.
Restaurants: A Simple Reason for why Restaurants Have Been Posting Negative Traffic; And Other Lessons Learned Recently
by John A. Gordon, Principal and Founder, Pacific Management Consulting Group
What has been learned through the end of Q1 earnings:
Although surveys of consumer tightening of restaurant spending are everywhere (traffic oriented ), sales have generally kept pace, very strong at some concepts. Looking at reported restaurant results in Q1, one sees only a handful of real problems, pizza for one.
What most concerns me is the reports from analysts that have an international credit card in their company that they can tap into (for example, Sara Senatore, Bank of America) that show May spending has continued weak in QSR pizza, casual dining has just turned weak. QSR x pizza is up slightly month over month and fast casual is slowing down.
"Success seems to be connected with action. Successful people keep moving. They make mistakes, but they don't quit."
-- Conrad Hilton
Unleashing the Power of AI: Enhancing Data-Driven Decision Making for Restaurant Executives
by Ray Kelley, SVP & Partner, Wray Executive Search
In today's data-rich landscape, restaurant executives face the challenge of making informed decisions to drive growth and profitability. The advent of artificial intelligence has transformed data analysis and interpretation, revolutionizing the way executives leverage information to make strategic choices. We’ll explore how AI can improve data-driven decision making for executives in the restaurant industry, enabling you to navigate complex challenges and seize opportunities for success.
Data Integration and Analysis: AI can streamline the process of collecting, integrating, and analyzing vast amounts of data from multiple sources. By automating data aggregation, AI algorithms can gather information from POS systems, customer relationship management (CRM) platforms, online reviews, social media, and more. This holistic view of data provides decision makers with comprehensive insights into customer behavior, market trends, and operational performance, facilitating well-informed decision making.
Read the latest on restaurant industry job growth from the National Restaurant Association
Restaurants added 33,000 jobs in May
Although restaurant job growth slowed somewhat in recent months, operators are having more success keeping the employees that they have.
The restaurant industry continued to expand payrolls at a moderate pace in May. Eating and drinking places* added a net 33,100 jobs in May on a seasonally-adjusted basis, according to preliminary data from the Bureau of Labor Statistics (BLS).
