SPORTS: 6 Infographics to Get You Ready for the 2018 World Cup
The 2018 World Cup in Russia is just a few short weeks away. To get your sports bar ready, here are six infographics detailing what you and your guests can expect from the World Cup this year. Share ’em with your staff so they continue to be sports experts for your guests, and share ’em on your social media to create some conversation with guests and soccer fans.
For more soccer visit our International Soccer Central guide, chalk full of soccer tourney marketing ideas, nation-wide (& free) soccer-themed promotions for sports bars, and the World Cup group play TV schedule.
DID YOU KNOWS…
The Winners (and Losers) of the Trump-China Trade Truce
Reacting on Monday, the markets rallied, with U.S. companies such as Boeing, Caterpillar and John Deere laying on 3.6%, 2.1% and 2% in value, respectively. All three are significantly reliant on trade with China. Boeing, for example, could benefit from $1.1 trillion worth of jet purchases over the next 20 years, according to Investor's Business Daily. In the world's largest construction equipment market, Caterpillar has also invested heavily in China. Here are the biggest winners & losers of the trade-truce.
Serena Williams Dominates at Beer Pong
Apparently a game of beer pong broke out at the royal wedding after party (how scandalous!). Among the party goers was tennis superstar Serena Williams. Another party goer noted that “Serena Williams played beer pong like it was tennis” which we assume means she was on Boss Level sinking shots left & right. We could’ve used her on our teams during our college years.
Fake Positive Reviews… for a Price
Russia just loves meddling in US business. The latest is a Russian company selling fake TripAdvisor restaurant reviews for a mere $570 each. Be still my heart! The good news is TripAdvisor is fighting back, investigating reviews for “review optimization” and looking to take action.
THE INDUSTRY VS LABOR
Why it matters to you: Challenges like the War for Talent, turnover rates, and transition to a gig economy greatly affect the hospitality industry.
With an unemployment rate is just under 4% nationally (and sub-2% in some places), you’d think a lot of our industry’s woes would be a thing of the past. Wrong. While restaurants are growing at an incredible rate -- they’ve rapidly become the new anchor tenants in buildings in retail spaces -- as a whole they all still have the same issues.
Why is that? The turnover rate for limited service restaurants is 153% and 60% among managers. Full-service has a turnover rate of 101% with their managers clocking in at around 37%. This is a shockingly high rate for an industry that should be flourishing, especially considering three-quarters of turnovers is voluntary due to low wages. We still get it: with no benefits and low wages, of course employees will be willing to move across the street to another job for an extra buck or two.
Turnover rates cost all operators an incredible amount of money. Normal full service restaurants spend $146,000 annually on it. Mind-blowing. So, what can we possibly do? Better management & forecasting will help, but when the vast majority of staff leaving is due to low wages, it’s gonna be a bit tougher. Some restaurants have tried forgoing the tipping system for alternate ways of generating enough cash flow for better wages, but that model has proved difficult to implement when it isn’t an industry-wide decision. There’s no panacea for this problem, but every operator needs to spend time figuring out how they can best keep their talent around.
CO-OP FOR BETTER CONDITIONS
Why it matters to you: An Oregon bakery is combating the industry’s poor work conditions by being worker-owned.
What is a way to get your employees to happily work as hard as they can? Give them the opportunity to advocate for themselves and benefit directly from the business’s success. In this model, when the business is particularly profitable the employees (aka the “owners”) get a share in the profits rather than seeing the money they earned go to upper management or outside shareholders. It also empowers employees in their own governance, sharing the leadership power among employees & employer. Not a bad model we’d say, especially considering the turmoil the industry has been facing in the wake of the #MeToo movement. Having the power be equal between employees and employers can greatly reduce the risk of sexual harassment and abuse as nobody has any real power over anyone else.
So let us get this straight: better wages, benefits and conditions, less harassment and abuse. So why don’t more restaurants adopt this model? It is reportedly only within the past two-ish years that this style of restaurant model has even started to emerge. We’d guess that we will see this restaurant business model become more common as lifelong industry workers turn to each other and say “There has to be a better way.”What can the operators do to prevent losing their talented people to this model? Treat them the way they’d want to be treated. The Golden Rule.