DALLAS, Texas (PRWEB) November 10, 2020
60% of restaurant companies added sick pay leave for their hourly employees in response to the pandemic according to the 2020 Total Rewards Survey. The survey, just released by leading restaurant industry human resources, financial and guest data provider Black Box Intelligence™, answers key questions for restaurant executives regarding current and expected employee rewards practices in the restaurant industry.
Previously known as the Corporate Compensation & Benefits Survey, this research includes base pay and incentives for all employee levels within the restaurant as well as the corporate office, as well as how companies are crafting attractive benefit packages for their employees throughout their organizations.
“The 2020 edition of the Total Rewards Survey is part of our special research series created this year to dive deeper into the impact of COVID-19 on the industry and how companies are updating their workforce practices to remain relevant and competitive in this rapidly evolving environment,” said Victor Fernandez, vice president of insights for Black Box Intelligence. “Operators will be able to benchmark their employee offerings to other chain restaurants, and even see salary and bonus averages down to the individual role.”
This comprehensive report has been refocused to highlight employee practices implemented in response to the pandemic and specific changes to employee rewards, including:
- Positions created to adapt to the new COVID-19 environment
- Compensation of those newly created positions
- Hazard pay practices for front-line employees
- Base pay freezes and changes in bonus plans
- Practices put in place to ensure the safety and health of employees and guests
- Changes in benefits coverage and cost
- Additional practices put in place by restaurant operators in 2020
The Total Rewards Survey research also includes benchmarks for:
- Base salary
- Annual bonus
- Corporate office staff turnover
- Total cash compensation (corporate office and support center roles)
- Merit increases (unit level hourly workers up to executive level positions)
- Variable pay/bonus plan structures including company equity, profit sharing, etc...
- Payroll costs broken down by department
- Monthly cost of PPO and HMO plans for employee-only coverage, as well as employee +1 and employee plus family coverage
- Medical office visit copays, generic and brand name prescription copays, deductibles and out of pocket maximums by position level
- Health benefits for part-time employees, including average cost of limited benefit plans offered, wellness program usage and commonly offered programs
- Paid time off policies by position level, including vacation time and data on savings and severance plans
- Additional offers including company cars, dining, tuition, reimbursement, etc...
The 2020 Total Rewards Report is exclusive to restaurant operators and can be purchased on the Black Box Intelligence Shop.
Black Box Intelligence™ (formerly TDn2K) is the leading data and insights provider of workforce, guest, consumer and financial performance benchmarks for the hospitality industry. The Black Box Intelligence product suite is the industry standard for operators seeking to achieve best-in-class performance results. With the largest and most reliable set of real restaurant data in the marketplace, Black Box Intelligence currently tracks and analyzes more than 290 brands, 2.3 million employees, 50,000 restaurant units and $76 billion in annual sales revenue. Black Box Intelligence is also the producer of the Global Best Practices Conference held annually in Dallas, Texas.