It genuinely blows my goddamn mind that this article is actually considered news and has to even be published.
Like, what the fuck do they teach people in business school these days?? Just cut costs endlessly? Like “I have this restaurant with no employees that serves nothing and charges $1B per customer. I will be rich!” ??
Like, what the fuck do they teach people in business school these days?? Just cut costs endlessly? Like “I have this restaurant with no employees that serves nothing and charges $1B per customer. I will be rich!” ??
I work in corporate retail, and yes, basically. It’s pretty wild how myopic senior leadership can be at times.
Came here to post just this. How fucking stupid are the people in charge of these places? That offering higher wages gets you more/better employees is such a revolutionary concept that not only has nobody else tried it, but when one does and realizes it works, it becomes a Business Insider article?
You don’t have to be an MBA to understand supply and demand. If there is less supply of workers and more demand for workers the market price of work will rise. Did they think the labor market was a slave trade?
I really genuinely do not understand how so many supposedly smart successful business people can be so stupid as to not understand such a simple concept.
I’m not sure whether to laugh or cry at this headline.
Here’s a thought experiment to all those companies experiencing a “labor shortage”:
If you were to post a job offer, but list pay that’s twice as high as the industry average, would you still have no applicants? If the answer is no, then the problem is you.
Paying more can't magically make more people available to work and there are real labor limits right now. It just means that if you want people, you have to make sure you're using them as effectively as possible and pay them above market rates.
But for every guy you get, the other guy loses a spot and has to compete harder.
It only takes a miniscule amount of money to make a business work by keeping workers happy. It takes a moronic business leader to refuse to spend because they can’t live without their single digit percentages.
Glad that business saw the light and made some sustainable choices.
Genuinely happy for everyone involved in this story. The real test will be how much top line revenues are impacted when the higher menu prices kick in next month.
The Caribbean-food chain is raising prices by up to 6% in December to fund higher labor costs.
And they can earn respect if they use $11.01 instead of $10.99. Though best to round to $11 (unless you guys have done away with pennies like we have in Canada and it’s always rounded to the nearest $.05).
