A Holistic View of Hospitality: Philip Camino

Philip Camino is out to save his restaurants but, in the process, may be able to help save the industry. Today we discuss how he’s expanding the concept of team to include his vendors and how wellness plays a central role in his restaurant operations. Click to sign up for our weekly newsletter. Click here to book time on my personal calendar. Click here to download our Restaurant Recovery Guide. Want to streamline your front-of-house operations and increase sales? Head over to http://restaurants.yelp.com/fullcomppodcast to claim your free page and learn more about these powerful tools for your business. SHOW NOTES Transforming the business during Covid Looking at ways to mitigate risk Reduce costs Get more efficient Speak to landlords and stakeholders Building a partnership with landlords Collaborating with landlords rather than being against them Less tennants in the next 6-12months More failures happening within the next year Mid level spaces - much less demand Philip’s professional background Director of Finance at the Student Union Corporate job in enternatinment management company Corporate marketing Moved to LA and began in hospitality Lessons from a varied professional background People are everything World class artists and brands have world class teams Strong teams attract other talented people The hospitality job market Hiring has been hard in the past couple of years Even BOH hard to hire Essential to the running of the restaurant Restaurants will have a more diluted talent pool post-pandemic Covid is creating opportunity Reset of the industry 35% restaurant closures 35% less competition 65% of restaurants who are left will hopefully get 100% of the remaining business Finding a stronger team Wages will come down More top talent available Some of the best hospitality professionals in the world are now available Benefits to remaining restaurants Better team Better supplier relationship Better opportunities to capitalize Less competition Redefining relationships with vendors and landlords Widening the definition of “team” Principles of mutual investment Poor current working conditions for employees in the hospitality industry No health insurance No 401k Long work hours Initiatives for better employee compensation Bonuses based on actionable metrics depending on position Example: executive chef receives bonuses for cutting prime costs Receives a profit share of money saved Gameifying health and wellness Whoop app to encourage healthy habits Financially incentivize better recovery score Recovery score made up of wellness metrics to measure your stress levels Resting heart rate Sleep Respiratory rate Heart rate variability