))
Jim Taylor, Founder of BenchmarkSixty | S1E16
Manage episode 337566544 series 3382723
Content provided by 7shifts. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by 7shifts or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
This episode was originally published as part of the Restaurant Growth Podcast. It has been rebranded as part of The Pre-Shift Podcast as of January 2023. The information presented may no longer be up-to-date and may differ from the viewpoints and insights currently shared on The Pre-Shift Podcast.
The conventional methods of measuring restaurant labor cost—as a percentage of sales—are no longer enough to ensure success. One way to find success is to start measuring labor productivity—the number of customers your team can serve. We chat with Jim Taylor, founder of BenchmarkSixty, about why restaurants should be tracking labor productivity, the data you need how to do that and the huge impact it can have on your restaurant success.
The Restaurant Growth Podcast is hosted by Dominick, “DJ” Costantino
About Jim Taylor
Before going into business for himself, Jim had a long and successful career with Cactus Club Cafe restaurants. Operating in multiple roles and several markets, Jim took a lead role in both the growth and financial strategies that helped make Cactus restaurants a household name in Canada.
Jim is the creator of Benchmark Sixty - A one-of-a-kind restaurant financial optimization strategy designed for restaurateurs to dramatically increase their profit margins by understanding data, implementing benchmarks, and using metrics to improve productivity. This signature platform has helped hundreds of restaurants start on the right foot, land on their feet, or position for solid growth moving forward. It has also been battle-tested during the challenging Covid-19 restrictions.
Using a proprietary strategy, Jim and his team work with restaurant operators to navigate the new normal of the restaurant industry where everything from wage structure to menu pricing and cost management have changed.
Jim's business goals are focused primarily on doing what he can to improve the overall state of the restaurant industry. Having grown up in it and witnessing firsthand the challenges it and the people working in its face, he aspires to make it better for the next generation of restaurateurs.
Ultimately Jim aims to "Change the way the entire restaurant industry looks at labor costs in order to protect profit AND employee experience."
Listen, rate, and subscribe!
Spotify
Apple Podcasts
Google Podcasts
YouTube
TikTok
7shifts Blog
Credits
Host & Producer: D. J. Costantino
Producer: Samantha Fung
Editor: Fina Charleston
About 7shifts
7shifts is a scheduling, payroll, and employee retention app designed to help restaurants thrive. With an easy-to-use app and industry-specific solutions, 7shifts saves time, reduces errors, and helps keep costs in check for more than 50,000 restaurants.
Chapters
1. You Need to Measure Labor Productivity with Jim Taylor, Founder of BenchmarkSixty (00:00:00)
2. Introduction (00:00:36)
3. The traditional labor model (00:05:32)
4. Results vs strategies (00:08:15)
5. Measuring labor productivity (00:10:57)
6. The data you need to use (00:15:36)
7. How measuring labor productivity leads to a better employee experience (00:20:41)
8. Improving productivity to raise pay (00:24:29)
58 episodes
Share
