Effective labor strategies must also offer benefits beyond wages to attract and keep workers, said Damola Adamolekun, CEO of Scottsdale, Ariz.-based P.F. Chang’s.
“I have really focused on work-life balance,” he said. “I think people should have some time for themselves, and their families. They should not be working 24/7 and should not be thinking about their job 24/7.”
Giving the entire staff the day off on the Fourth of July for the first time this year was one example of this, and one that was appreciated by workers, Adamolekun said.
The company is also looking into the possibility of offering paid time off for hourly workers, and recently launched graduate school tuition reimbursement for corporate employees.
“There’s no silver bullet,” Adamolekun said. “It’s making sure you are thoughtful about your employees as people and as contributors, and in a holistic way rather than just the dollar amount in each week’s paycheck.”