To tip or not to tip? That is the question these days… not on the minds of patrons, but from restaurant owners themselves. Would eliminating the common, longtime practice of tipping waitstaff benefit employees as well as diners?
As per H Careers, "Some activists and commentators criticize the practice of tipping at restaurants, often alleging that tipped workers like servers and bartenders are underpaid. According to supporters of the so-called 'no-tipping movement', restaurants should eliminate tipping and instead institute a service charge or raise prices in efforts to pay their workers higher wages. The discrepancy in pay between servers and back of house employees is a reason some restaurateurs want to end tipping (as well)."
This seems like a reasonable notion, as some people are poor or inadequate tippers despite satisfactory service. And restaurant employees like waitstaff, bartenders, runners, and bussers rely heavily on tips as part of their take-home pay.
"Employees in other occupations know their pay rate before starting work. Waiters, waitresses and bartenders, on the other hand, often have no idea how much they will earn from a day's labor," as per The Conversation. "Shifting to a model where labor costs are built into food and drink prices has many benefits. It shifts risk away from workers by eliminating uncertainty and by providing more stability in a server's pay."
Danny Meyer of the Union Square Hospitality Group is one of the more well-known restauranteurs aboard the no-tip train. As of Nov. 2015, Union Square Hospitality Group, "roll(ed) out an across-the-board elimination of tips at every one of its thirteen full-service venues, hand in hand with an across-the-board increase in (menu) prices," as per Eater New York.
Meyer stated, "The American system of tipping is awkward for all parties involved: restaurant patrons are expected to have the expertise to motivate and properly remunerate service professionals; servers are expected to please up to 1,000 different employers (for most of us, one boss is enough!); and restaurateurs surrender their use of compensation as an appropriate tool to reward merit and promote excellence."
Some other popular restaurants which don't take tips, as per CNN, include Manhattan's Dirt Candy, Chicago's Alinea, and San Francisco's Bar Agricole.
Thrillist notes two main reasons to get rid of tipping. "The first is moral. Studies have shown diners judge servers (and therefore adjust their tips) based on looks and race, and servers judge diners (and therefore adjust their effort) on age, race, and ethnicity. The server is incentivized to drive up the check and manipulate the diner. And the diner can use the tip as a weird form of punishment/reward. The second argument is wage discrepancy."
Do diners prefer tipping or is this no-tipping method on its way to becoming the new norm? Cake from Sysco suggests some pros of a no-tip policy. "Guests may be excited to try a brand-new way of dining. Raising ticket prices allows restaurant operators to raise wages for all employees, including servers, barbacks, and kitchen staff. Higher wages increase employee loyalty and morale." That said, there are the cons. "Some critics are concerned that without tips, staff will be less motivated to provide great service." Plus, the adjustment will take time to get used to.
If a restaurant-wide end to tipping ever comes about, it is sure to be gradual, but as more and more restaurants adopt the payment model, the more customers will get accustomed to it. Would you like to see an end to tipping and an increase in menu prices to make up for the change?
'Till then, tip your server fairly and if they've gone above and beyond, generously.
Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.