December 1st, 2016 will mark a rapid update in FLSA, affecting an estimated 4.2 Million American workers costing retail & restaurants upwards of $745 Million.
The fact is unless a worker is earning $47,476 or more annually they are now overtime eligible- no matter if they are hourly or salary, and this salary threshold automatically updates every 3 years going forward. The Department of Labor has been aggressively pursuing establishments for wage payment violations and this will surely increase dramatically.
FLSA will impact the already staggering turnover rate in the service industry which stands at over 61%, as establishments plan for more part-time hiring, and the increased frequency of the revolving door of nomadic service workers .
With the cost of turnover at almost $6,000 per employee, part of the whopping $150,000 annual cost to the average restaurant in America, FLSA will drive these numbers further.
How will this impact your operation? Do you know your metrics? How much lost productivity as a result of turnover? How much is spent on recruiting, job postings, interviewing, training & orientation?
We have a solution- Avail Productivity Systems will soon launch an unprecedented user-driven marketplace for the Bar & Restaurant Industry.
We will put the power in your hands to effectively operate your business and eliminate the cost burden of latent turnover.
Spending countless dollars & precious hours on a broken system will become a thing of the past.
[Think Uber + Tinder]
Get ready to cut turnover costs and say goodbye to the old way!