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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.
Click here to go to the article page.
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