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01-09-2006, 06:00 PM
#121
All these numbers are normalised to exclude any one-offs.
With this $2.5m to $3.0m guidance for this half year an optimistic guess for the full year would be an IFRS NPAT in the range $7.0m to $8.0m? (Equivalent for 2006 was $12.4m)
Assume an EPS of 7.5cps
I think they should bite the bullet, cut the divvy to 1.5cps this half and concentrate on sorting this company out with the extra retained cash.
If they do that then I will consider buying some.
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01-09-2006, 06:16 PM
#122
quote: Originally posted by Snoopy
You have to remember many of these workers are school kids on their first job. They are down near the bottom end of the pay scale. It is unrealistic to expect a team with military drill discipline on hand to serve you.
Absolute BS. I've successfully run teams of teenagers and 20 somethings and I've seen others do the same. While there are inter-generational value differences, people of any age respond to clearly defined expectations, challenge, leadership, opportunity and reward. The real problem is low standards, low expectations. ...and that starts at senior management levels.
quote: Originally posted by Snoopy
...According to KFC management 'staff motivation and operational key performance indicators through the transformed stores are at an all time high'. You could easily dismiss that statement as 'hype' except that partner turnover for KFC is down from 82% to 71%. That compares well with overseas benchmarks of about 100%. The longer they retain staff, the more staff they can promote to become experienced managers.
That last sentance is true. 71% staff turnover can't deliver it. High turnover is a feature of the industry but a lot of that comes down to recruitment and management practices. It's tough to build line management on anything more than 50% turnover. But in terms of hype, how long have these guys been talking about improving staff and customer satisfaction levels? That they have not delivered is the only "hype-able" factor.
quote: Originally posted by Snoopy
Restaurant Brands have been pro-active in being one of the first fast food companies to settle wage negotiations at significantly higher levels for the year.
While this makes for good reading in a Labour party billboard, it's not the stuff of legends in the boardroom. Superior companies have been finding non cash incentives a cheaper and often more effective strategy to retain quality staff. As a company, if the choice is to pay me $6,000 per year more to remain competitive, the better option can be to pay my tuition for tertiary studies at $4,000 a year and a $1,200 gym membership. The employee gets maybe $8,000 of pre tax value, the company gets better trained, more motivated, fitter, healthier employees who stay around longer (Saving recruitment and training costs as well) at a lower cost than $6,000. Maccas have partially defined a route to this challenge by branding their employment on Television and offering NZQA compliant training (as well as a superior career progression path). RBD just reports a 50% profit drop instead.
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01-09-2006, 09:08 PM
#123
quote: Originally posted by Halebop
Snoopy wrote
...According to KFC management 'staff motivation and operational key performance indicators through the transformed stores are at an all time high'. You could easily dismiss that statement as 'hype' except that partner turnover for KFC is down from 82% to 71%. That compares well with overseas benchmarks of about 100%. The longer they retain staff, the more staff they can promote to become experienced managers.
That last sentance is true. 71% staff turnover can't deliver it. High turnover is a feature of the industry but a lot of that comes down to recruitment and management practices. It's tough to build line management on anything more than 50% turnover. But in terms of hype, how long have these guys been talking about improving staff and customer satisfaction levels? That they have not delivered is the only "hype-able" factor.
KFC Employee turnover from 2000 to 2006 is:
72%,73%,73%,84%,82%,71%
So we are back to all time low levels. Not bad for a period of near full employment.
For KFC customer service, scores on the CHAMPS scale *have* been improving. The figures for the last six years are from FY2000 to FY2006:
93.2%, 93.0%, 92.0%, 89.0%, 95.4%, 95.5%
95.5% is better than anything achieved in any state of Australia
Note: this is not hype Halebop! There has been a real measurable turnaround in years 2005 and 2006.
'CHAMPS', BTW is a rigorous six scale quality control scheme. The CHAMPS acronym stands for in order:
Cleanliness, Hospitality (Say 'Great to see you' and smile at the customer), Accuracy (correctness of order), Maintenance, 'Product Quality' and 'Speed with Service' (hint: only open the drive through window once with product in hand ready for the customer). Actually I think there is a whole book on CHAMPS the public can buy. I saw it at Borders.
quote:
Superior companies have been finding non cash incentives a cheaper and often more effective strategy to retain quality staff. As a company, if the choice is to pay me $6,000 per year more to remain competitive, the better option can be to pay my tuition for tertiary studies at $4,000 a year and a $1,200 gym membership. The employee gets maybe $8,000 of pre tax value, the company gets better trained, more motivated, fitter, healthier employees who stay around longer (Saving recruitment and training costs as well) at a lower cost than $6,000.
Get real Halebop. Some of these employees might only be on $6,000 per year total. A free gym membership isn't going to pay their bills for them.
quote:
Maccas have partially defined a route to this challenge by branding their employment on Television and offering NZQA compliant training (as well as a superior career progression path).
From p23 of the RBD FY2006 annual report:
"In conjunction with New Zealand Hospitality Standards Institute we have developed a tailored training cirriculuum called 'Future 2 Go' which we offer through all of our stores. This earn as you learn training is base don a modular building block approach that enables learners to progress from one qualification level to the next at their own pace. Competancy at each level is recognised with a National Certificate in Hospitality and often results in staff promotion or advancement."
SNOOPY
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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01-09-2006, 09:40 PM
#124
Snoopy ... if 71 staff out of 100 staff leave during a year how long on the average does an employee hang around for?
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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01-09-2006, 09:44 PM
#125
quote: Originally posted by Snoopy
For KFC customer service, scores on the CHAMPS scale *have* been improving. The figures for the last six years are from FY2000 to FY2006:
93.2%, 93.0%, 92.0%, 89.0%, 95.4%, 95.5%
95.5% is better than anything achieved in any state of Australia
Note: this is not hype Halebop! There has been a real measurable turnaround in years 2005 and 2006.
SNOOPY
95.4% to 95.5% real measurable turnaroud ???????
Suppose real ... and measurable .... but turnaround
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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01-09-2006, 10:47 PM
#126
DONT worry boys the s/price will soon back over $1 those poor soles who dumped over 2 million of there hard earned shares at such a big LOSS will then regret while the traders CHEER.. [8D]
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01-09-2006, 11:59 PM
#127
quote: Originally posted by winner69
Originally posted by Snoopy
For KFC customer service, scores on the CHAMPS scale *have* been improving. The figures for the last six years are from FY2000 to FY2006:
93.2%, 93.0%, 92.0%, 89.0%, 95.4%, 95.5%
95.5% is better than anything achieved in any state of Australia
Note: this is not hype Halebop! There has been a real measurable turnaround in years 2005 and 2006.
95.4% to 95.5% real measurable turnaroud ???????
Suppose real ... and measurable .... but turnaround
Years 2005 and 2006 taken together, compared to the previous four years of course. The downtrend reverses and steps up by five CHAMP points.
Since we are in pedant mode, I would like to point out that it is bad form to mix up letters and numbers in a single word. Henceforth I shall call you 'winnersixtynine' or '95663769' - the SMS text key version of your name.
SNOOPY
Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7
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02-09-2006, 12:43 AM
#128
Cantab
I'll put a bucket of KFC on Otago beating Canterbury for the shield. They must be due to win, I have never seen the Blue and Golds ever win the shield.
Either way, it will boost RBD sales and add another couple of cents on to the bottom line.
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02-09-2006, 12:59 AM
#129
quote:KFC Employee turnover from 2000 to 2006 is:
72%,73%,73%,84%,82%,71%
So we are back to all time low levels. Not bad for a period of near full employment.
For KFC customer service, scores on the CHAMPS scale *have* been improving. The figures for the last six years are from FY2000 to FY2006:
93.2%, 93.0%, 92.0%, 89.0%, 95.4%, 95.5%
95.5% is better than anything achieved in any state of Australia
Note: this is not hype Halebop! There has been a real measurable turnaround in years 2005 and 2006.
'CHAMPS', BTW is a rigorous six scale quality control scheme. The CHAMPS acronym stands for in order:
Cleanliness, Hospitality (Say 'Great to see you' and smile at the customer), Accuracy (correctness of order), Maintenance, 'Product Quality' and 'Speed with Service' (hint: only open the drive through window once with product in hand ready for the customer). Actually I think there is a whole book on CHAMPS the public can buy. I saw it at Borders.
Snoopy I'm quite famililar with Champs, with the process measurements involved and with several pertinent restaurant formats, including 2 out of 3 of RBDs. 95.5% is not a good score. It might read good on the outside, but it aint. Conversely 89% is a Sh!t score.
quote:
Get real Halebop. Some of these employees might only be on $6,000 per year total. A free gym membership isn't going to pay their bills for them.
Get real yourself Snoopy. Everything is scalable. That was an example.
quote:From p23 of the RBD FY2006 annual report:
"In conjunction with New Zealand Hospitality Standards Institute we have developed a tailored training cirriculuum called 'Future 2 Go' which we offer through all of our stores. This earn as you learn training is base don a modular building block approach that enables learners to progress from one qualification level to the next at their own pace. Competancy at each level is recognised with a National Certificate in Hospitality and often results in staff promotion or advancement."
And the PR firm edited out the next lines... "We are so successful at the stragegy, staff turnover has fallen to 71%. In any case we benchmark against world worst practice to makes ourselves look good so what the hell."
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02-09-2006, 07:04 AM
#130
For what it is worth
From stats nz ... The accommodation, cafes and restaurant industry had the second-highest average quarterly worker turnover rate of all industries, with average quarterly worker turnover rate of 28.2 percent, higher than the all industries average of 17.4 percent.
If i understand the workngs properly thats an annual turnover rate in excess of 100% ... well done KFC
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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