By Steve Moran
Can you imagine interviewing a senior living executive director, or a manager of any division or location, and after finding the one you want to hire, saying to them, “The job is yours if you would like it, but one more thing. You will have to pay $25,000 to get the job.”
This is exactly what Texas Roadhouse does with each of their restaurant managers.
I get it, restaurants are not like senior living, or any other business. A manager who cuts a few minutes off ticket times or gets a table turned faster is directly, measurably moving the number that determines their paycheck.
Senior living is a lot messier. Every business has its own kind of messy, some more, some less, which means you have to be careful about what you borrow. You cannot bolt Texas Roadhouse’s exact formula onto a company and expect it to work the same way.
I don’t have the formula. I’m not sure anyone in our industry does yet. But somebody is going to figure this out first, build a comp plan where their best leaders have real skin in the game, and the rest of the industry is going to spend years trying to catch up. I’d love to see it be someone reading this.
Continue reading on Practical Passionate Leadership (Substack) for free …
