Running a restaurant can oftentimes be considered overwhelming as is, and the idea of adding data analysis on top of the daily work load is generally unappealing. Being in such a fast-paced, high stake industry means restaurant owners need an extra edge over their competition when looking to grow, or to even keep their current establishment running; however, if owners can’t keep track and utilize their business and employee data effectively, how can they expect to gain this edge or possibly even remain successful?
Accurate data reporting is necessary when facing competition and battling high turnover, but how much effort is needed to use this data effectively? Thankfully, we live in the 21st century and modern technology allows restaurant owners to manage and organize their data with a click of a button! Now that it’s organized, what do you do with it?
Figuring Out Your Restaurant’s Growth Potential
Data reports provide a great overview of a restaurant’s actual success. They supply detailed insights ranging from financial summaries to your store’s current trend in labor costs. Even though this information sounds important, and potentially detrimental, for the operations of any restaurant, it is often overlooked. Without this information, however, owners and management can miss out on several opportunities for growth or worse, the signs of arising issues.
Is your restaurant failing to reach its forecasted goal but still scheduling the same amount of staff? Are you driving your best employees away by failing to recognize their impressive net sales? It’s questions like these that can be the difference between growth or decline. It’s questions like these that can be answered by data reports.
Tackling High Turnover
Being in a season of high turnover, maintaining talent in your restaurant has never been more difficult or more essential. As a restaurant owner, if you don’t provide your best employees a reason to stay, then you risk them leaving for a job that provides more recognition. By using reports that showcase employees’ net sales, you can identify those with higher performance and reward them accordingly. Doing so can encourage them to continue working for your establishment.
From another angle, you can also learn of the employees that fail to meet your standard. With this information you can determine if perhaps that employee is not being provided the proper resources to succeed or possibly needs to be terminated. Turnover cannot always be prevented, but data from reports can certainly assist you in handling it better.
Using Data to Determine Scheduling
With the threat of a minimum-wage increase, staying on top of labor expenses has never been more important. The best way to start combating this potential wage spike, as well as your current labor costs, would be to track employees’ work hours and adjust them to avoid overstaffing during slow periods. By using the data from reports, you could ensure staffing levels meet your restaurant’s exact needs and save you money in the end.
With so many potential benefits, it’s a surprise so many restaurants don’t take advantage of big data. Does your store keep track of all its data? If so, how do you take advantage of it?
Have more questions about the effects of reporting on your restaurant or would you like to demo a software that combines several forms of reporting along with numerous other features, please feel free to contact us at support@zignyl.com!
