Awesome content, even better software. Just think what our technology could do for you.
How Chain Restaurants Benefit from Better Data Reporting
Originally published by Christian Valiulis on Food Newsfeed.
The restaurant world is fast-paced, with new brands opening and others closing every day. The stakes are high for restaurants looking to scale up and add locations amid this fierce competition for customers. But if brands can’t track and maintain current employee and business data, how can they grow successfully?
Use Data Reports to Realize Your Growth Potential
Data reports paint a detailed picture of a restaurant’s operations, from menu sales to labor reports and payout details. If that picture isn’t crystal clear due to inaccurate information, the company’s decision makers will miss the opportunity to address complications before they become major issues.
Restaurant groups can ensure that they don’t miss a single opportunity to grow by implementing the following strategies to improve their data reporting:
Tackle Turnover and Control Its Costs
Managing turnover isn’t just about retaining top talent, though. Restaurants must also identify costs associated with regularly gaining and losing employees, such as new hire training. Brands with multiple locations should identify which ones have the highest and lowest turnover rates and take note of what the managers at each location do differently. They should then compare those results to industry averages to ensure they aren’t experiencing anomalies. The way a restaurant group manages these additional expenses will determine its growth.
When turnover is inevitable, the costs can be mitigated by utilizing resources such as the Work Opportunity Tax Credit. If the data supports the need for a new hire, then that tax-credit program will help offset some costs that come with the hiring process.
Manage Labor Expenses With Strategic Scheduling
To stay on top of their labor expenses, restaurant leaders should track employees’ work hours at each location and adjust them to minimize unnecessary overtime payments. If one waiter or waitress consistently works overtime and another doesn’t come close, leaders should consider modifying their shifts to even out their time. After all, if their restaurants previously paid $7.50 an hour and the minimum wage is now $10 an hour, their overtime pay would be $15—twice the previous hourly rate.
Restaurant owners can also use their attendance reports to go a step further and evaluate their full-time employees versus part-time and seasonal workers. They should make sure their staffing levels and hours worked match their needs during both busy seasons and slower weeks. They must confirm that previous data is accurate by monitoring hours scheduled versus hours worked, then use it to create more efficient staffing schedules in the future.
Carefully Curate General Ledger Reports
Creating general ledger reports can be complex, so utilizing data collection technology to streamline each location’s reporting is important. But according to the National Restaurant Association’s Mapping the Restaurant Technology Landscape survey, 32 percent of managers admitted that expensive start-up fees and difficult implementation processes made it challenging to incorporate new technology.
However, outdated and patchwork technology can lead to far costlier outcomes. Restaurant group leaders should evaluate potential solutions and should choose one that is scalable and easy to use. That way, they can ensure sales, inventory, staff, turnover, labor expenses, and other data is accurate so they can analyze it effectively.
About Christian Valiulis
Chief Revenue Officer Christian Valiulis at APS is a member of the Forbes Business Development Council. As a national human capital management and full-service payroll processing company, APS delivers a unified cloud solution backed by guaranteed payroll tax compliance services. Christian oversees marketing and sales, channel partnerships, and strategic product and service alliances. Connect with him on LinkedIn to stay up-to-date with his most recent publications.
How aps can help
APS has a mission: to make payroll and HR easier. We provide our clients and partners with intuitive technology delivered with personalized service and support. Our unified solution is designed to simplify workforce management tasks. Process payroll in hours, not days. Automate HR workflows to be more strategic. Elevate the employee lifecycle with a single-system platform. We are APS, your workforce partner.
Businesses choose APS as their workforce partner because of our focus on the customer experience. As a result, we continually maintain 98% customer retention and satisfaction rates.
For more information on how we can help make payroll and HR easier for your business, please visit www.apspayroll.com or call 855-495-7921
Check out more great articles from the APS Blog covering HR, payroll, and everything in between.
Here we provide guidance on the various Form 1095-C codes for Lines 14-16 so you can simplify your ACA reporting. Learn more.
Here we look at the key reasons why W-2s and final pay stubs can have different amounts so you can answer all of your employees’ questions.
Our dedication to providing the ultimate customer experience led us to a new and improved APS website, as well as a more defined mission statement and core values. Learn more.
We’re looking at October 2019 compliance updates, including minimum wage changes, state unemployment wage base updates, and SSN truncation.
APS has been named best company perks and benefits, as well as best work-life balance in Comparably’s 2019 reports.