Tip pooling can have big benefits for your entire team…but landmines abound.
Don’t just take our word for it: a quick Google News search for “tip pools” will return countless stories detailing costly lawsuits against operators who were — sometimes unknowingly — running illegal tip pools.
Of course, if you’re going to pool or share tips in your restaurant, compliance is only one (albeit very important) consideration.
It’s also critical to choose the best structure for your restaurant based on a variety of factors — including your restaurant type, team size and local market. And then there’s the rollout: Properly communicating the policy to your team and soliciting feedback can go a very long way in ensuring the success of your tip pool.
If you’re considering instituting a tip pool or tip share — or if you want to evaluate your current tip distribution program — check out our recent webinar moderated by Restaurant Strategy Podcast host Chip Klose and featuring Justin Roberts (co-CEO, Kickfin); Larisa Thomas (VP Operations, Kickfin); Beth Schroeder (Partner, Raines Feldman LLP).
Watch the recording below to hear the panelists cover the ins and outs of tip pooling, including:
- Pros and cons of running a tip pool
- The most common types of tip pool structures
- Tip pooling myths and misconceptions
- Avoiding costly tip pooling compliance mistakes
- Best practices for launching or updating a tip pool policy
