Forecasting Tools on CTUIT
CTUIT offers a wide variety of resources for you to make your restaurant a more efficient operation. Please take the time to utilize some of the forecasting tools as these provide a great resource to tighten your financial margins.
1) Forecast Calendar: A calendar showing daily and weekly forecasted data so that you can view your forecasted sales and labor for a specified amount of time.
2) Weekly Forecast Variance: This report compares forecasted data to actual data and provides a variance in dollars or percent.
3) Weekly Forecast Accuracy Trend: This provides a graphical view of the percent variance of forecasted data as compared to actual data.
If you need more information on utilizing these resources, please contact your client manager.
|How are your Incentive Programs?
As restaurateurs, you understand more than anyone that the economy has been in a slump. The good news is: the light is beginning to show at the end of the tunnel. Now is a perfect time to prepare for the economic turnaround by looking at your employee incentive programs to see if they need re-evaluating. Remember, a restaurant’s workforce drives its productivity and helps ensure the success of its long term goals. It is therefore in a restaurant’s best interest to invest in and protect their employees through good and bad economic times.
Incentive programs will help achieve the overall goal of improving employee morale and increasing retention but they need to be performance driven and results based. In other words, the results must be measurable and achievable by the employees. For instance, a restaurant develops a bonus program that requires food cost to be at 30% for one metric of the bonus but that restaurant has never achieved a food cost of lower than 35%. By setting the goal of 30% without a defined or employee supported way of getting to that goal; you are setting the staff up for failure which can have a negative effect on morale.
Now is the time to take a look at your incentive programs which can be great tools to motivate your staff, but consider whether the program is realistic. Vine Solutions has worked with many of our restaurant clients to help in developing incentive programs that benefit both the employer and employee. Contact your client manager if you would like more information.
Retaining New Hire Forms!
Turnover in the restaurant business is unavoidable, and employees with come and go. Please make sure that you keep your employee files and records well maintained and on site. New Hires should have all appropriate paperwork including copies of I-9 forms, W-4, Identification and employment eligibility.
Street Food Festival
August 22, 2009,
Folsom Street, San Francisco
Eat Real Festival
August 28-30, 2009,
Jack London Square, Oakland
& Hospitality Expo
August 30-Sept. 1 2009,
San Diego Convention Center
Please let us know of any further events that you would like us to include in future newsletters.
September 13-15 2009,
JW Marriot Hotel, San Francisco