Domino's’ Post

I recently came across a fascinating article about Raising Cane's Chicken Fingers incredible journey. Their secret sauce? It's not just the chicken fingers (although those are pretty amazing too). It's their focus on company culture. The article highlights how Raising Cane's prioritizes communication, opportunity, and financial security for its employees. They've even created a Restaurant Partner Program that empowers store managers to become business partners. This commitment to their people has demonstrably fueled their explosive growth. At Vensure Employer Solutions, we understand the power of company culture. We offer a comprehensive employee engagement platform that helps businesses cultivate a thriving workplace environment, just like Raising Cane's. Here are some of the ways Vensure can help you create a culture that drives success: *Boost communication and transparency: Foster open communication between employees and leadership. *Empower and develop your people: Provide opportunities for growth and development. *Recognize and reward achievements: Celebrate successes and show your employees they're valued. *Create a sense of community: Build a strong sense of belonging and camaraderie. Competitive compensation is key, but a positive company culture is equally important for attracting and retaining top talent. #payroll #HR #HRIS #HCM #PEO #Employee #Employer #CompanyCulture #Busniess #BusinessOwners #Franchise #Franchisee #QSR #vensure David AdamsKyle BemisDavid Siegel☁️DavidVeronica PagánBen ShootKyle SchulkersTara CarloughJonathan GormanJoe VolinoJoe HarrellBrian DicksonBrian UrsoRob PeeryJohn RamosAlex WardlawAlexandra BlancoBryan WebbBryan TroyeTravis BruyereWilliam KaneJordan GiffordJordan WitlerJames LinkRyan CoukoulisBrandon MattisonDr. Brandon SmithClaire PalmerRich DeGuzmanJoe RossiJoel PearsonCurtis DentonBianca NaughtonAnne Erdman

In this edition of "Ask the Board," Temoc Morfin, Founder and CEO of thriving Illinois-based fast-casual Mexican restaurant chain Cilantro Taco Grill, emphasizes the importance of employee retention and shares his invaluable advice on how to maintain the employees you've worked hard to recruit. Follow these tips to keep your dedicated workforce committed for the long run: #EmployeeRetention #BusinessTips

Most first-time franchisees think the restaurant industry is all about the food. Wrong. It’s about the people. To help you navigate the complexities of the restaurant industry, Paylocity is hosting a webinar featuring industry HR and finance experts with remarkable track records of success across multiple locations. If you’re a service industry operator, this is something you want to tune into. Click on the graphic to register! #hospitality #qsr #restaurant #operations #franchise

Being intentional about what your company does now and in the future. What leaders intend to happen and how their strategic plans play out are often misaligned. Welch proved that a transactional view of a firm only buys you time. And in GE's case, a slow and agonizing defeat. When you assume capabilities and resources are fixed, all you have is cutting costs and M&A. A resource based view provides more opportunities to be viable but the theory doesn't address developing capabilities. The restaurant industry during the pandemic provides us a great example of these theories in play plus one more: a dynamic capabilities theory of the firm. #strategy #capability #viability https://lnkd.in/eW_anGfn

Not a Walk in the Park! Brian Niccol is stepping into a minefield. Starbucks, once seen as a homey coffee shop, has become a fast-food empire struggling with declining U.S. sales, stiff competition in China, and operational inefficiencies. Brian, known for his success in revitalizing Chipotle Mexican Grill, faces the challenge of reconnecting with Starbucks' core customers. His experience in driving digital growth and improving in-store operations will be crucial. He should focus on turning around Starbucks' lagging sales and navigate the complex, global coffee market. However, with the pressure from activist investors and rising operational costs, the road ahead won't be easy. Embracing innovation will be key. Not just in technology or products, but in redefining customer experiences and creating a future-ready culture. True innovation leadership means balancing operational excellence with bold, transformative ideas that keep pace with evolving consumer expectations. Interested to learn more? Sign up for our next "Innovation Leadership Mastery" webinar. www.mikeghasemi.com

Being intentional about what your company does now and in the future. What leaders intend to happen and how their strategic plans play out are often misaligned. Welch proved that a transactional view of a firm only buys you time. And in GE's case, a slow and agonizing defeat. When you assume capabilities and resources are fixed, all you have is cutting costs and M&A. A resource based view provides more opportunities to be viable but the theory doesn't address developing capabilities. The restaurant industry during the pandemic provides us a great example of these theories in play plus one more: a dynamic capabilities theory of the firm. #strategy #capability #viability https://lnkd.in/eSvzuGhi

Brian Niccol’s first day as CEO of Starbucks marks the beginning of a challenging journey. With the company facing lagging shares, activist investors, unionization efforts, and operational issues, Niccol’s leadership will be crucial. His experience in revitalizing Chipotle and his focus on digital growth and in-store operations will be key assets. However, the high turnover rate of CEOs at Starbucks and the pressure from various stakeholders make this a daunting task. Niccol’s ability to innovate and reconnect with Starbucks’ core customers will be essential in navigating these challenges and driving the company’s future success. What are your thoughts on Niccol’s potential impact on Starbucks? Do you think his strategies will help turn things around?

Embracing employees fosters a positive work environment where individuals are encouraged to reach their full potential. Employees who feel supported and respected are more likely to take on challenges and seek opportunities for growth. Way to go Greggs #employeeappreciation #employeeadvocacy

Interesting week in corporate governance-land. Starbucks Board of Directors made a rare, proactive, bold move by corporate Board standards, in replacing its still new CEO (who was hand-picked by Howard Schultz). A few thoughts: 1) Kudos to the Board for pulling the string early when they sensed things weren’t going to work. Saved everyone a lot of hassle. It feels very rare that a Board is actively providing oversight of senior management. The market rewarded the Board with an immediate-25% increase in stock price (-$24B in market cap) pretty much regaining the ytd decline. 2) Hopefully the Board is doing a full post mortem of the their last hire. What did they miss? What in the Board operations should change? It’s a great opportunity to be self-critical. 3) A lot is being made in the news of incoming CEO Brian Niccol’s pay package ($75M stock, $10M cash, year pay target $31.8M (plus lots of sweet private jet use, because you know, security). It’s a lot of money by any reasonable definition, but I would argue perhaps controversially, less than he and every other Starbucks employee should be receiving. Too often compensation gets framed as execs vs line workers when I think a better view would be against corporate profits and stock returns/market cap. While the CEO is highly paid, he or she is still labor in labor vs capital just in a less obvious and less disadvantaged way. 4. Contrast the Starbucks Board with whatever the hell is happening at Warner Bros. Discovery right now or Meta for the last decade. (Meta is slightly different as the Board is largely ceremonial given the ownership structure, but asleep at the wheel none-the-less). https://lnkd.in/efiyyWMz

Just watched the interview with Publix Super Markets CEO Kevin Murphy, acknowledging Publix as winner of the 2024 Grocer of the Year award. 👏 We (grocery consumers) don't often consider grocery store jobs "quality jobs." But when... ... a 14-year old bagger works his way up and becomes the CEO ... promotion-from-within is the culture of the organization ... cashiers become millionaires... It's time to take some notes. Especially of note: Publix Super Markets is employee owned. Employees get employer-granted stock every year, and are part owners in the entire grocery chain. They don't have to buy stock. It's given in addition to regular wages and benefits. That's a practice started by the store's founder, George Jenkins, almost 100 years ago... When George Jenkins started the company in 1930, he had 3 management staff, and 6 associates. The 3 managers (he and 2 others) put money in that first store, buying stock in the company. But George wanted his store associates to have ownership too. He knew that when you own something, you work harder and take more pride in your work - you've got skin in the game. How did George do it? He gave his store associates a $2/week wage increase, and held that money. In 50 weeks, every employee in that store owned a share of company stock. At a time in US history when businesses were going OUT of business, and people were hunting for work, those 6 store associates became not just paid staff, but part owners in what would eventually become the largest ESOP in the United States. Because George was right: when employees have ownership, they build REALLY good businesses that thrive, grow, and out-compete the rest. Employee ownership is good for business, and it's good for workers. As Murphy states, if you're willing to come to Publix, work hard, and make the company successful - "you are going to benefit tremendously long term, because you are going to have ownership." And as we know --- ownership builds wealth. Kevin says it right there - at the 5:45 minute mark: Stock clerks and truck drivers and cashiers become #millionaires at Publix. Watch for yourself. #EmployeeOwnership works. Time to invest in the long game. Thanks Zoe Schlag for posting the video, posted again here: https://lnkd.in/eKWHrAWW