Vaccine availability, less stringent COVID restrictions, and stimulus checks have many predicting a shift for the better in the food service industry in the second half of 2021 and throughout 2022. Using data from Earnest Research, Rabobank expects restaurant sales to rise 20% to 30% starting in the next several weeks thanks to recent stimulus checks, double what the industry saw from early rounds of relief.1
Food and beverage manufacturers will be the first to benefit from the increase in restaurant sales, as new and larger orders emerge to accommodate a long-anticipated uptick in business. The trickledown effect isn’t limited to just food manufacturers though, an increase in sales is on the horizon for tabletop, smallwares, cooking tools, supplies, and food equipment manufacturers too. While many in the industry are looking forward to growth, workforce reductions in 2020 will likely make it difficult to keep up with increased demand, causing the entire market to shift into a hiring frenzy and creating fierce competition for the very best mission-critical talent.
How to Prepare For a Hiring Explosion
When business picks up, it’s important to already have a hiring strategy in place so you aren’t scrambling to find people to fill vacant positions. Start by deciding which jobs are a priority, if you will need to upgrade your current talent, and what recruiting resources are available to your team. With the entire industry hiring, expect the talent pool to be dry, and begin planning creative ways to attract new employees and retain existing employees, who will be targets of your competitors.
What Employees Want
“When it comes to employee retention, the benefits that make your company stand out become really important,” says Ron Torch, President and CEO of Torch Group. During a hiring explosion, it’s important to note that your employees are now feeling a sense of optimism post-pandemic and are comfortable seeking new opportunities.
“Now is the time to take a closer look at your employer brand, your workplace culture, and how your company is perceived.” Torch explains. “Many employees want more than the highest salary. In addition to traditional benefits such as PTO and 401(k)’s they are also evaluating soft options, such as a healthy work/life balance, training, education, and even free lunches. Look for a complete list of trending soft benefits in our next blog.
Why Use an Executive Search Firm?
The right executive search firm can help prepare and execute your hiring strategy for 2021 and beyond, including organizational development, position profiling, and development of position competencies. In addition to already having talented recruiters and resources in place, Torch Group has Fortune 500 human resources trained staff whose experience encompasses the entire HR discipline. We also have an extensive network of employed passive talent with a wide range of skill sets and experiences both inside and outside the food service industry. Our seasoned search professionals have decades of experience using research and behavioral interviewing to identify and place better-qualified, more invested candidates who are both a functional and cultural fit for your business.
To learn about our Signature Search Process™ and how we can map search and retention strategies for your specific talent needs, please contact Jake Long at email@example.com or 440-519-1822 x103 or complete and submit this form and let us know how we can help.
Kelso, Alicia. “Restaurants Could See up to 30% Check Boost from Latest Stimulus, Rabobank Predicts.” Restaurant Dive, Industry Dive, 7 Apr. 2021, www.restaurantdive.com/news/restaurants-could-see-up-to-30-check-boost-from-latest-stimulus-rabobank/.1
- Posted by Stuart Glassman
- On May 13, 2021
- 0 Comments