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Five Tips for Reducing Costs in your Business

Many Australian restaurants, cafes, pubs, clubs and bars have been feeling the financial pinch since the pandemic.
Fortunately, there are strategies you can use to reduce these costs while still ensuring high-quality service. Here are five ways to reduce labour costs in your restaurant or hospitality business:
  1. Use a Cloud POS System to optimise staff scheduling

    A quality POS system provides a wide range of useful data that allows you to see which days of the week, times of the day, seasons and holidays require more (or less) staff due to busy periods or a lull in patrons. Create sales forecasts to predict staffing requirements, review your POS labour reports in separate bite-size categories to figure out where you need to cut costs, and allocate your staff members’ fair share of work to minimise overtime expenses.

  2. Empower staff and reduce your turnover rate

    Invest in, empower, motivate and reward employees to retain your staff and save the time and money required to source, hire, and train new employees. Analysis of your cloud POS systems staff sales report provides a clear idea of which employees are bringing in the most revenue. By rewarding team members with bonuses, paid time off and other perks, you can build pride in their work and show other staff what they too can achieve if they work that little bit harder or smarter.

  3. Centralised Ordering

    Abacus POS enables franchisees to order directly from HQ through its centralised ordering feature. This allows HQ to have different pricing tiers for different stores and ensures that all orders are tracked and processed efficiently.

  4. Staff training to expand skill sets and boost role versatility

    Cross-train your staff in different restaurant roles to enhance their skill set and ensure everyone on the team can undertake different roles when the situation requires adaptability. By enabling team members to work across different roles and responsibilities, they end up working together with more of their teammates, building team friendships, collaboration and overall confidence in relying upon one another.

  5. Leverage the latest hospitality technology solutions to front-load cash

    Efficiency is the goal when it comes to reducing labour costs. Employing modern high-tech services like online ordering, self service kiosk for restaurants, QR code ordering and restaurant table ordering system is a solid investment in automating processes at your establishment. Faster moving queues, quicker table turnover and a boost in online orders equates to lower labour costs, higher sales revenue and less chance for human error. These technologies, which all function via your cloud POS system, empower you to proactively address staffing requirements. The days of mismanaged evening rushes and tortoise-speed nights can now become a thing of the past!

In conclusion, by implementing these cost effective tips, you can create a more efficient and productive workplace that reduces labour costs while delivering a high-quality customer experience. Abacus POS can help streamline your labour costs and efficiently manage your business’s payroll, scheduling, inventory, and employee performance. With accurate time tracking, real-time sales data, automated payroll, inventory management and integrated staff management features, you can reduce your labour costs while ensuring that your business runs smoothly and profitably. Get in touch with the team to schedule a demo.