Shake Shack founder Danny Meyer: You can leave $0 tip if you so choose

Yahoo Finance12-10

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His answer and reasoning, however, might surprise some.“I don’t think you ever need to tip anywhere,” Meyer told Yahoo Finance executive editor Brian Sozzi on his Opening Bid podcast on Yahoo Finance .“The word gratuity comes from the word ‘gratitude,’” he said. “And if you genuinely feel grateful for anything at that level, I think tipping is a wonderful thing to do.”“If you feel that someone did something that made you not want to say thank you, I don’t think you have to leave a tip,” he said.No matter the establishment, Meyer is resolute about tipping. A tip is a thank you and “I don’t always feel like saying thank you to that person,” he said. “I don’t necessarily think that person did anything thank worthy.”","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SHAK":"Shake Shack Inc","BK4504":"桥水持仓","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","BK4209":"餐馆","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","MCD":"麦当劳","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","QSR":"餐饮品牌国际","BK4534":"瑞士信贷持仓","BK4585":"ETF&股票定投概念","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","BK4566":"资本集团","WEN":"温蒂汉堡","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","CMG":"墨式烧烤","BK4550":"红杉资本持仓","BK4588":"碎股","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","BK4547":"WSB热门概念","BK4581":"高盛持仓"},"translate_title":"Shake Shack创始人Danny Meyer：如果您愿意，可以留下0美元小费","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SHAK":1,"MCD":1,"WEN":0.9,"CMG":0.9,"QSR":0.9},"content_text":"Listen and subscribe to Opening Bid on Apple Podcasts, Spotify, or wherever you find your favorite podcasts.\nIt’s reasonable to assume the brain behind Union Square Hospitality Group has an opinion about tipping workers. His answer and reasoning, however, might surprise some.\n“I don’t think you ever need to tip anywhere,” Meyer told Yahoo Finance executive editor Brian Sozzi on his Opening Bid podcast on Yahoo Finance (see video above or listen below).\n\nMeyer has decades of experience running hospitality establishments. Alongside founding Shake Shack (SHAK), his portfolio boasts Union Square Cafe, The Modern, and a Shake Shack cafe at Citi Field.\n“The word gratuity comes from the word ‘gratitude,’” he said. “And if you genuinely feel grateful for anything at that level, I think tipping is a wonderful thing to do.”\n“If you feel that someone did something that made you not want to say thank you, I don’t think you have to leave a tip,” he said.\nPresent-day tipping has had its share of critics thanks in part to a phenomenon known as “guilt tipping.” \nGuilt tips get tacked on to routine things, such as take out coffee. Where the old school tip jar once sufficed, it's been replaced by tablets that often make customers go through a tipping screen before signing.\nMeyer did away with tipping altogether in 2015, the same year he took Shake Shack public. At that time, he said the company would adopt a “hospitality included” model that eliminated the need to tip. Meyer said the move enabled them to “compensate all of our employees equitably, competitively, and professionally.”\nMeyer views kitchen staff to be as invaluable and hardworking as wait staff, and in the tipping environment, “it didn’t seem fair that you’re paying the offense [dining room staff] but the defense [kitchen staff] has to go hungry,” he told Sozzi. \nSurviving the food service industry tests plenty of mettle. \nIn May 2023, the Bureau of Labor Statistics reported that the two million plus workers in wait staff positions earned an hourly mean wage of $17.56, totaling $36,530 per year. Top earners made $28.89 per hour while the bottom tier pulled $8.94 an hour. \nMeanwhile, turnover is high. Toast, a takeout and delivery service provider, recently reported that restaurant staff turnover was about 80.2% since 2013. In the days of Covid, it reached 132%.\nDuring Covid-19, like many others in his position, Meyer pivoted to keep operations afloat and reinstated tips.\nAlthough kitchen staff can’t be tipped, they can receive other perks, which equates to a percentage of the restaurant’s revenue for his kitchen workers. “Even on a busy night, anyone in the kitchen has an incentive to also work hard because they’re going to get rewarded,” he said.\nNo matter the establishment, Meyer is resolute about tipping. A tip is a thank you and “I don’t always feel like saying thank you to that person,” he said. “I don’t necessarily think that person did anything thank worthy.”\nShake Shack recently traded to a 52-week high of $139.58. The stock is up 83% year to date, out-performing burger rivals McDonald's (MCD) and Wendy's (WEN).\nThree times each week, Yahoo Finance Executive Editor Brian Sozzi fields insight-filled conversations and chats with the biggest names in business and markets on Opening Bid. You can find more episodes on our video hub or watch on your preferred streaming service.\nGrace Williams is a writer for Yahoo Finance.\nClick here for all of the latest retail stock news and events to better inform your investing strategy","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2490770525"}