Mick Lamond |
CEO and president, Newport Restaurant Group
1. Does being the first non-family member to lead the Newport Restaurant Group bring additional pressure/challenges? The company was founded in 1925 as a family business. It has gone through several iterations, one of the most significant being the move from private ownership to partially employee-owned in the late 1990s before becoming 100% employee-owned about seven years ago. It is an incredible honor to be the first non-family member to head the company and to take on the responsibility of ensuring its continued growth and success. As a 20-year veteran of NRG, I understand what truly makes this company unique and special and am prepared for the challenges that lie ahead.
2. What is your long-term vision for the company? Any changes you may push for? My vision … is to continue to build on the company’s uniquely special brand. Under the leadership of our previous CEO, Paul O’Reilly, we have grown into an award-winning hospitality company with numerous concepts and experiences in Rhode Island and in Massachusetts.
3. What are the benefits of the employee-owned model, and why do you think more hospitality companies don’t use it? I think it is not as popular a model … because it involves a level of complexity and cost that tends to dissuade most companies from considering it. We are 100% employee-owned, which allows us to create a culture in which every employee benefits from our success and therefore results in an incentive to make sure our guests have an exceptional experience.
4. What are the biggest challenges facing the restaurant industry? Many of the challenges are the same as previous years – rising and unpredictable food costs and labor issues. The inflationary environment of the last few years has made it even more challenging. … Recruiting and retaining good, skilled employees is another challenge for the industry. Being 100% employee-owned is an important benefit … as it plays a significant part in our ability to recruit and retain talent.
5. Are there any regulatory changes state lawmakers should institute to assist the industry? If so, what? We need fewer changes. I have seen quite a bit of proposed legislation that is well intended but just not practical … and ends up being detrimental. One topic that continues to come up is the federal tip credit. The argument that tipped employees are paid less than minimum wage is untrue and unfair, which is what proponents of eliminating the tip credit keep stating. If a tipped employee’s hourly wage does not meet the state minimum, the restaurant makes up the difference to ensure that employees make at least minimum wage. This benefits the ... employee because they are guaranteed minimum wage and receive additional compensation from tips.
