S2E33 - Lowering Your Restaurant’s Labor Cost While Improving Retention

About the Episode

Jim Taylor, founder and CEO of Benchmark Sixty Restaurant Services, shares his journey in the restaurant industry and the lessons he has learned along the way. He emphasizes the importance of people and data in the industry and how they can drive success. Jim also discusses the services provided by Benchmark Sixty, including improving productivity and addressing cost of goods sold (COGS) in restaurants. He encourages collaboration and staying on top of industry insights to drive innovation and growth.

Takeaways

• The restaurant industry is all about people, and retaining and protecting employees is crucial for success.
• Understanding and managing data and information is essential for improving productivity and making informed decisions.
• Benchmarking against oneself is more valuable than comparing to others, as each restaurant has unique factors that affect performance.
• Addressing workload and preventing burnout is key to reducing staff turnover and improving employee satisfaction.
• Collaboration and sharing insights within the industry can lead to innovation and growth.

Timestamps

00:00 Introduction 01:19 Early Career in the Restaurant Industry 03:41 Lessons Learned in Restaurant Management 06:50 Founding Benchmark Sixty Restaurant Services 08:21 Benchmark Sixty’s Lane and Focus 10:33 Improving Productivity in Restaurants 12:36 Process of Working with Restaurants 16:26 Addressing Staff Turnover in the Restaurant Industry 21:39 Client Success Story 24:46 Dealing against the External Factors for the Restaurants 26:41 Facing the Challenge of P&L, Data, and Reporting 27:59 How To Reach Benchmark Sixty 29:31 How Benchmark Sixty Stayed on Top of Trends and Insights 30:24 Helping Restaurants with COGS 31:47 Future Plans for Benchmark Sixty 33:17 Advice for the Restaurant Industry