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Navigating Rising Labour Costs: A Strategic Approach for Restaurants with DYNE
Washington State's minimum wage is set to increase by 3.4% in 2024, prompting restaurant owners to reassess their strategy for labour expenses. Don't let rising labour costs sink profits – discover DYNE's insights to streamline operations and download our free staffing template for a solution that’s simple and effective.
As a restaurant owner, you know that the restaurant industry is always dynamic and that you must always stay ahead of challenges. With Washington State set to increase its minimum wage in 2024, restaurant owners face a new hurdle in managing operational costs. This issue is on top of the already ongoing labour shortage, with the restaurant industry in Washington struggling to staff their establishments adequately, with staffing levels remaining below pre-pandemic levels. With these challenges in mind, DYNE presents a solution through its staffing features.
Understanding the Challenge Ahead: Washington State’s Minimum Wage Increase
Effective January 1, 2024, Washington State will implement an increase in the minimum wage. This change, announced on September 29, 2023, requires restaurant owners to reevaluate their operational strategies to navigate rising labour costs effectively.
The Impact of Minimum Wage Increase: A Closer Look at the Numbers
The minimum wage in Washington State is expecting an increase from $15.74 per hour to $16.28 per hour, representing a jump of 3.4%
Some regions, like the SeaTac jurisdiction, are going up to $19.71 for the transport and hospitality industry.
Historically speaking, increases in minimum wage usually project a rise in annual labour costs for restaurants.
Considering these facts, restaurants have to prepare for a direct impact on their bottom line. The surge in labour costs demands a new approach to ensure profitability, always a notable concern in an industry notorious for operating on razor-thin margins. As expected, previous wage adjustments have hit the restaurant sector particularly hard. According to a study by Harri, a staggering 71% of restaurants responded to recent minimum wage increases by implementing menu price hikes. In addition to price increases (71%), reduced employee hours (64%) and job eliminations (43%) were the most common reactions to wage inflation. According to the survey, 88% of restaurant operators gave a pay increase to non-minimum wage employees and 56% of non-minimum wage employees received increases of 5–15%. This issue, coupled with the ongoing labour shortage, make it increasingly difficult for restaurant owners to adequately staff their establishments, leading to operational disruptions and potential impacts on the overall customer experience.
In the face of such economic challenges, the industry must find solutions. Tools like DYNE's staffing features offer a lifeline for operational efficiency and sustainability. By revolutionising how restaurants approach staffing, DYNE's solution goes beyond merely addressing the immediate concerns—establishing a foundation for long-term success.
Revolutionising Operations with DYNE’s Staffing Trends Feature
DYNE is the operational solution for restaurants, and its Staffing Trends and Auto Shift Scheduling features are essential tools for restaurants seeking to elevate efficiency. DYNE specialises in providing data-driven solutions to reduce costs and enhance operational performance. These staffing features combat the challenges associated with understaffing and overstaffing. By delivering a swift overview of demand forecasts, businesses can make real-time adjustments to staff schedules, ensuring optimal staffing levels and sustainable day-to-day operations.
How Do DYNE’s Staffing Features Feature Work?
1. Real-Time Data for Informed Decision-Making:
DYNE’s Staffing Trends feature relies on the power of your real-time data and our proprietary data set to create ideal pricing and operational decisions for your business. DYNE delivers accurate and up-to-the-minute insights by amalgamating data from many sources, including extracting information with our many integrations with your existing software, historical trends, current and upcoming reservations, and external variables like local events. The DYNE Dashboard ensures that the recommended staffing decisions are prompt and grounded in the most relevant information.
2. Dynamic Adjustments to Staff Schedules:
The flexibility of staffing demand forecasting lies in its ability to adapt quickly. The DYNE Staffing Trends feature empowers businesses to adjust staff schedules dynamically as demand fluctuates throughout the day, week, or season. This adaptability is crucial for preventing understaffing during busy periods and avoiding overstaffing during slower times, ultimately enhancing operational efficiency.
3. Fostering Operational Excellence and Sustainability:
The staffing demand forecasting is rooted in DYNE’s commitment to operational excellence and sustainability. By aligning staffing levels with predicted demand, businesses can optimise their resources, cut labour costs, and maintain a more sustainable operation. The Staffing Trends feature positively impacts the bottom line and creates a conducive working environment for the staff.
4. Predict Staffing Needs Accurately:
The Auto Scheduling feature allows you to automatically generate a weekly staff schedule based on your restaurant's predicted demand, ensuring optimal staff coverage at all times. DYNE analyses historic order trends and predicts your future with DYNE’s industry leading 90 Day Future Insights. This eases the process of staff scheduling, ensures optimal staff coverage, and reduces labour cost.
How does DYNE’s Staffing Features Address Operational Inefficiencies?
Elevating Operational Efficiency:
A primary pain point addressed by DYNE’s staffing demand forecasting is the challenge of operational efficiency. Conventional staffing models often result in overworked staff during peak hours or unnecessary labour costs during slow periods. DYNE’s Staffing tackles this issue head-on by providing the insights needed to align staffing levels with actual demand, ensuring a more efficient and responsive operation.
As Washington State confronts the challenges of rising minimum wages, restaurant owners can turn to DYNE as their ally. Businesses can achieve unprecedented operational efficiency and sustainability by leveraging DYNE’s real-time data for staffing decisions. Embrace the future of staffing trends with DYNE, and witness the transformative impact of the Staffing Trends feature on your restaurant’s success.
DYNE offers a complimentary staffing scheduling template to get started on optimising your staffing strategies. Sign up here today to download this valuable resource and gain a practical tool to navigate the complexities of labour management in the evolving restaurant landscape.
If you’re ready to take the next step, you can also book a demo today to learn more about how DYNE’s staffing features are your solution!