Domino's is having a tougher time finding workers to bake and deliver pizzas as the economy improves, President and CEO Patrick Doyle said on Monday. The chain may have to follow in the footsteps of Wal-Mart and McDonald's and raise wages.
"The reality is the labor market is tightening up, and we've got to respond to that. It's getting harder to hire people," he told CNBC's "Squawk Box," adding, "We've got to do what the market demands to get the right people for our business."
Like McDonald's, the vast majority of Domino's locations are franchised, so the decision to raise wages would come down to entrepreneurs. However, Doyle said Domino's needs to pay more to hire people right now at its company-owned stores.
Domino's operates about 10 percent of its roughly 5,000 U.S. locations.
Should the pie maker pursue a wage hike, it will take on the extra cost from a position of strength. The company increased same-store sales 7.5 percent in 2014 and its stock price has soared 30 percent over the course of the last year.
After a successful campaign to turn around its business that kicked off roughly five years ago, Domino's is now focusing on increasing sales through mobile platforms. About half of its orders come through digital channels, and mobile orders are now growing faster than sales from desktops, Doyle said.
The chain recently launched apps for Pebble smartwatches and Google Android-powered wearables. Customers can also order from Samsung-powered smart TVs.
While Domino's is growing its payment channels, the company believes its menu is "as big as it needs to be," Doyle said. He noted that Domino's has only introduced two new products in the last three years and said it would probably subtract items before adding new offerings.