"Like many restaurant operators over the past two years, Greg and Daisy Ryan, co-owners of the French-inspired bistro Bell’s in Los Alamos, California, sweated over how their business would survive a global pandemic. All around them owners were turning to takeout, to retail, or to closing their doors indefinitely. 

"The Ryans, meanwhile, decided to spend more money—actually, a lot more money—on their staff. They hiked wages to an average of $27 an hour. They added on a bevy of new perks, including fully paid health care coverage and 80 hours of paid time off. 

"Increasing costs is risky business even in good times for restaurants, where profits margins are sometimes thinner than mandolined potatoes, and the industry was on life support even before government-mandated shutdowns were part of the conversation. But the Ryans made their drastic changes back in June 2020, after a two-month in-dining closure to regroup, deciding to spend big when most independent restaurants were scrambling to meet existing costs. 

It worked. Bell’s revenues and staff have more than doubled since that pivotal summer day, and now the Ryans are talking about how to add a retirement program with four percent matching funds, a longstanding goal that will also bring them in line with state-mandated legislation.

“'We said, ‘If we’re going to change, this is our time to change,’ Greg said. 'If we are not trying to be a better business, and a better business for our staff and the people that work with us, we are going to be so upset with ourselves.'”

Article: Happier Employees, Higher Profits: Restaurant Owners Spend More, and it Pays Off