by Bob Gershberg, CEO/Managing Partner, Wray Executive Search
Culture alignment in the workplace refers to the congruence between an organization's values, beliefs, and behaviors, and those of its employees. When there is a strong culture alignment, employees are more likely to be engaged, motivated, and productive. The importance of alignment between employee and organizational values makes sense intuitively. Those employees who embrace their culture and hold the organization’s mission as their own are more engaged in their work and in the organization. They are more motivated to achieve organizational goals and to ensure that the mission is implemented. Finally, such employees are more satisfied with their job and are less likely to leave. And their enthusiasm and service are recognized and appreciated by those with whom they interact.
Achieving cultural alignment can offer myriad benefits:
Increased Employee Engagement - When employees feel that their personal values align with the company's values, they are more likely to be engaged and committed to their work. This can lead to higher levels of productivity and job satisfaction.
by John Gordon, Principal and Founder, Pacific Management Consulting Group
Industry conditions in January take a step down
So, we had an inkling by the ICR Conference in mid-January that weather and US brand backlash in the Middle East would be a problem. And sure enough, those trends carried through. Starbucks US seemed to have picked up some frequency problems in the US, but we could not confirm (and no one asked) if it was due to off-base unionization campaigns). CEO Laxman made it crystal clear Starbucks does not take geo-political positions.
McDonald’s has prewarned of Mideast sales difficulties, KFC was down 5%. So while not all the Q4 data is in and we need another quarter to confirm it, we are about to identify a new restaurant sales analytical point: US Brand Backlash. And this is due to our old enemy that is almost impossible to see in our planning process, the “black swan”.
"Outstanding leaders go out of their way to boost the self-esteem of their personnel. If people believe in themselves, it's amazing what they can accomplish."
The Automated Dining Experience: Navigating Consumer Perceptions, Concerns, and Benefits
by Ray Kelley, SVP & Partner, Wray Executive Search
In an era marked by technological advancements, automation has become increasingly prevalent in the restaurant industry. From self-ordering kiosks to robotic chefs, these innovations promise efficiency and convenience. However, as automation reshapes the dining landscape, consumer perceptions play a crucial role in shaping its acceptance and adoption. Let’s take a closer look at the concerns and benefits associated with how consumers perceive automation in restaurants.
Consumer Concerns
Trust and Reliability: One of the primary concerns surrounding automation is trust. Consumers may question the reliability of automated systems, fearing errors or malfunctions that could disrupt their dining experience.
Loss of Human Interaction: Many consumers value the human element in dining experiences, such as interactions with servers and chefs. The prospect of automation replacing these interactions may lead to concerns about losing the personal touch and warmth associated with traditional dining.
Read the latest on the restaurant vs. grocery store competition for consumers from Nation's Restaurant News
Restaurants vs. grocery stores: Who is winning the share of stomach competition?
Restaurant prices continue to far outpace grocery prices, but the restaurant industry gained market share in December. That said, traffic remains challenged.
Fourth quarter earnings are officially underway and one of the major themes we’ll be keeping an eye on this go-round is traffic. That’s because traffic has become quite challenged in recent months as consumers grow increasingly inflation weary. While menu prices cooled to 5.2% in December — their lowest level since September 2021 — they remain much higher than overall inflation, at 3.9%.
Read the latest on restaurant industry consumer outlook from the National Restaurant Association
Consumer outlook
If the labor market remains healthy, consumers will have the confidence and wherewithal to continue spending in 2024.
A healthy labor market, coupled with excess savings that households accumulated during the pandemic, allowed consumers to continue spending at a robust pace last year. Now that those savings are largely depleted, the resiliency of households will be tested in 2024.
On the positive side, the expectation of falling interest rates and moderating inflation will offer some relief to households. However, disinflation is not deflation, and prices will remain elevated across many categories of their budget. This has the potential to expose cracks in the household balance sheet, such as rising debt and delinquency levels.
