July 24, 2017
One of the reasons why we start a business is to see it grow. If you can leverage the force of optimization and maximization, you can learn how small, incremental improvements in certain areas can result in the growth for your company.
July 13, 2015
Measure twice, cut once - a common theme on any jobsite. The same should be said in an office, interview twice, hire once. Not literally of course, but make sure you are really hiring the right man or women for the job. Hiring can be both an exciting and scary thought, as research shows that “even an $8/hour employee can end up costing a company around $3,500 in turnover costs, both direct and indirect.” Surely not all employees will cost that much to hire, not even close, but advertising, drug screenings and background checks, to name a few, can quickly add up. This means when it comes time to bring new people into your company, you’ll want to be sure you’ve hired the right person, who will learn and grow with the company for a long time. Here are our top tips on what to look for to achieve success when hiring a new employee.
June 26, 2015
Good record keeping is next to godliness. Or was it cleanliness? For a business it should definitely be good record keeping - one of the most important things for a business. Without proper records a business can’t know how much revenue is being brought in, what is being spent and how much profit is being generated. One of the key players in this record keeping party is cost of goods sold (COGS). Without knowing what your cost of goods sold is, you cannot tell what part of your revenue is profit and what part covers costs. Ultimately, a business won’t last long without accurate record keeping.
June 17, 2015
For those of us deep into our careers, it’s difficult to remember what it was like to get that first internship or entry-level job. Wide-eyed and unsure of the dynamics of a workplace, each new generation of workers comes along, looking to those before them to show them the ropes. It’s tough though, with full inboxes and dozens of voicemails to return, to find the time to help this new generation of workers grow and learn.
April 2, 2015
Skimping on wages and not offering benefits doesn’t always equate to savings in the long run. Especially when you’re in the restaurant industry, which employs 14 million people or ten percent of the national workforce according to the National Restaurant Association. With such a large pool to draw from, it pays to pay well, especially since the 2013 turnover ratio was 20% higher than the overall private sector average, a whopping 62.6% for the restaurant industry as reported by the Bureau of Labor Statistics. Save yourself the headache, time and money of replacing the valuable members on your team by paying them fairly and competitively. Let’s take a look at just how that’s done, examining average salaries within the industry and what that turnover ratio is really costing you.