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David Meets Goliath: A Contest to Attract and Retain Employees
By Maren L. Hickton

Swirled within the scroll of personal faxes that I receive, a business associate sent me a copy of a news article regarding anticipated restaurant labor shortages which is being projected as a result of many new restaurant chains scouting the area. The article also discussed how chains, recently, are almost universally adding profit-sharing and stock to attract and retain long-term employees nationwide.

And that is not all chains are doing. What was not published is that other lures -- such as cash sign-on agreements, hefty incentive bonuses, contests with magnificent prizes, unique employment agreements, team-building outings, generous expense accounts, etc., are being offered as well. Not just nationwide, but in certain markets, on a management level, worldwide.

Hardly news, right? Wrong. This should be a BIG reminder to independent restaurant owners who haven't considered new recruitment and employee retention strategies.

The full version of this article is now available on Restaurant Report's membership site

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