HTM 2030 Lecture Notes - Lecture 18: Manulife, Outsourcing, Deferred Compensation

• School: University of Guelph
• Department: Hospitality and Tourism Management
• Course: HTM 2030
• Professor: William Murray

Document Summary

Introduction to labour: labour is a major components of prime costs, labour can range from between 15 to 45 % of sales, ability to deal effectively and manage labour is an important requirement for food and beverage managers. Commissions: deferred compensation, deferred compensation is received by an employee after the conclusion of his or her. Menu: the significance of each varies from one establishment to another. Labour turnover rate is a ratio relating the number of departing employees to the total number of employees on the staff. Labour turnover rate = # of departing employees / # of employees on staff: according to manulife financial, the cost of turnover is ~40% of that employee"s. Weather salary: this includes the cost of lost business, lost training, departure costs, disruptions in productivity, and the expenses involved in hiring new people. Wages: 7 cooks x 35 hours x /hr = ,410. Wages: 4 cooks x 35 hours x /hour = ,520.