HM 351 Lecture Notes - Lecture 13: Life Insurance, Outsourcing, Dishwasher
30 Nov 2018
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Employee compensation: direct: salaries, wages, tips, bonuses, commissions. Indirect: paid vacations, health benefits, life insurance, free meals, free living accommodations, use of employer-operated recreational facilities, discounts on accommodations at other properties within a chain: deferred compensation: pension benefits, social security. Labor turnover rate = number of departing employees / total number of employees on staff: 100% per year across the industry (some as high as 300%, seasonal employees, part time jobs, first jobs, burn out. Labor contracts: training, use of part-time staff, outsourcing, sales volume, equipment, preparation (0-100%, service (0-100%, menu, hours of operation, weather, competent management. If it"s a small restaurant and its feasible, saves money: what if there are multiple kitchen employees, dishwasher, preps, bus person. Break-even: break-even for staying open an additional hour = fc / cr, = fc / (1-vr) Calculating standard work hours: determine the number of employees needed to serve a specific number of covers in a certain time period, ex.
