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Are You Measuring Employee Retention – a Key Profitability Driver?

Labour is a clear concern for Canadian restaurant operators and measuring employee retention can help your business and drive profitability. A recent survey found that the number one issue for foodservice operators in our country is labour cost and the number three issue is labour shortages, just behind food cost. Given these challenges, it is more important than ever to retain quality staff. The Tourism Industry Association of Canada (TIAC) predicts that by 2030, the foodservice industry will see an 11.8% worker deficit.. Part of the reason is linked to millennials being less likely to work in the service industry due to the perception of long hours and low pay associated with the industry. How can we maintain high performing staff? And why should retention be a line on your P&L? In order to answer these questions, we asked industry professional Bruce McAdams, Assistant Professor at Guelph University’s School…