Market
leader report
A Restaurant Business Study of More Than 330 Decision Makers
7% No
Change
Over the past 12 months, how have your labor costs changed?
November 2024
59% Increased
Significantly
Nearly all operators said labor costs have risen, including nearly three in five who reported “significant” increases.
A third of respondents rate their firm’s client facing technology very positively (top-two box). Next Generation advisors are slightly more positive about their client facing technology are Established advisors.
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Unsurprisingly, rising wages and labor costs dominated restaurant leaders’ lists of top challenges, but concerns around hiring and retention were salient as well. As operators look to find, keep and afford top talent, they will also focus on ways to improve their training and offer competitive benefits.
Paying the Cost to Keep Good Employees
Key Findings
33% Increased
Slighty
Shift Your Mindset for Solving the Labor Cost Equation
Working Toward a Better Industry
92%
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Only 20% of respondents say they spend less than 8 hours.
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A full 30% of respondents dedicate 8 to 16 hours.
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50% of respondents said they allocate more than 16 hours, or two full workdays.
2% Decreased
Learn the Latest Lessons
Amid a tight labor market and upward pressure on wages, restaurateurs have had to preserve their profit margins in ways that spread the burden among management, workers, and customers. Most operators have had to raise menu prices while also finding ways to cross-train employees and invest in labor-saving technology.
Restaurant Business surveyed more than 330 people from across the restaurant industry to study their strategies for hiring, development, and wages.
Waging Battle Against Higher Costs
Insights Report
Approximately three-fourths of operators cite labor costs as a major challenge.
74%
How the frontline learns, connects and gets things done.
PreciTaste simplifies your back-of-house management through AI-driven automation solutions, eliminating repetitive kitchen tasks and streamlining back-of-house processes on one platform.
SoundHound AI, a leading innovator of conversational technology, is trusted by top brands around the globe to provide voice AI solutions for products and services.
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