Commentary

How do you know if you're doing well?

International Women's Day is a day to celebrate and reflect on the progress we have made in creating a more equal and inclusive workplace for everyone. This year's theme of "Embrace Equity" brings this to the forefront and equal opportunities should be tailored to individual needs.

The quick-service restaurant (QSR) industry has been witnessing a revolutionary trend as consumers reduce dining in and utilise delivery options. Something that was initially popularised due to the pandemic seems to be sticking around, and global restaurant operators are taking notice of it. In McDonald’s third-quarter earnings report, CEO Chris Kempczinski emphasised a digital momentum, that digital sales now represent over one-third of systemwide sales in McDonald’s top six markets. This signifies the importance for QSRs to partner with delivery platforms to open up additional channels for consumers to access their ‘Happy Meal’ or ‘Whopper’.

The restaurant industry is highly competitive. Brick and mortar businesses such as fast-food chains, cafeterias, and restaurants have been struggling to retain existing customers and acquire new ones.

It may sound cliche but content is king. With the number of quick-service restaurants growing, the food and hospitality industry is becoming more competitive. If you are just relying on traditional marketing methods, you will only see minimal results in your advertising efforts.

The Covid-19 pandemic has shown us how important digital marketing is to every business, no matter how big or small. Businesses such as restaurants can adapt to emerging market trends by utilising online marketing. Being able to connect with the customers in this digitally-driven world is a key to success.

Marketing is a challenging element of managing a business.

When the Covid-19 pandemic hit, it massively impacted thousands of restaurants in the world as well as the whole foodservice industry. The impact has resulted in falling sales, bankruptcy, and job losses for employees. Many restaurants were forced to close down as they faced rapid changes in the foodservice industry. 

Restaurant marketing has been dynamically changing in the past few years.

In today's modern world, products and services are becoming more accessible with just a click of a button. Due to the effects of the Covid-19 pandemic, the hospitality industry is suffering.

As a quick-service restaurant owner, it is important to know how to keep your business afloat. When the Covid-19 pandemic hit and affected the foodservice industry, the need for QSRs to adapt to digital marketing became more evident than ever.

A recent study from the UK estimates employers are spending over $50 billion every year on workplace disputes. And, according to internationally renowned mediator and conflict specialist Jane Gunn, this doesn’t cover the costs incurred dealing with lost leadership time, sick days taken, loss of talent through resignations and the effect on work culture. And understandably, as these are almost impossible to quantify but they have real impacts on business performance.

(Editor’s Note: The commentary piece has been lightly edited for clarity. Reposted with permission. Link to original post here.)

(Editor’s Note: This commentary piece has been lightly edited for clarity. Reposted with permission. Link to original post here.)

You don’t need to read the newspaper to know that we are in the midst of a skills shortage.

Conflict, unfortunately, is a part of life and when you are in business it can seem that it is a part of every day.