All businesses need to keep a close eye on what is coming in versus what is going out to balance the books. Productivity, or how efficient your production processes are, has a significant impact on your profit and loss.
According to the National Institute of Economic and Social Research, close monitoring and improvement of productivity in sectors such as retail and restaurant is key to survival in these challenging economic times.
How do you measure productivity?
One useful measure is how many customers each member of waiting staff is serving per hour. You can do this by looking at receipts or invoices and seeing how many tables were served and how many customers per table. This will help you to identify members of staff who are performing better than others and enable you to roll out good practice across the team.
You should also regularly calculate the …