Tag: Skilled Labor
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The Different Forms of Compensation
There are two different forms of compensation provided to employees; direct and indirect. Direct forms of compensation have a multitude of types or methods, from salaries to bonuses. Indirect compensation is primarily the various types of benefits and long term incentives. This article is an introduction to the terminology of compensation. One of the forms of compensation…
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Controlling Food Costs in the Restaurant Industry
The top two costs associated with owning a restaurant is labor and food. Controlling these prime costs in effect is the bottom line in your business.
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The True Cost of Labor
Labor costs are more than just gross wages and benefits. It should include the costs of insurance, employer taxation, human resources management and incentives.
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Controlling Labor Costs in a Restaurant
There are two costs that stand out in the restaurant industry. Food and labor comprise more than 45% of the typical expenses of the restaurant. No other expense comes close to these two costs.