16 Handles is a self-serve frozen yogurt chain that has locations spanning across the US East Coast and Texas. 16 Handles CEO Neil Hershman joins Yahoo Finance's Brooke DiPalma to weigh in on navigating wage pressures amid a strong labor market. Following huge wage gains in January's jobs report, Hershman said it's vital to "retain talent" as his business raises wages so employees stick around longer. Hershman notes 16 Handles' self-serve frozen yogurt model provides a buffer on labor costs. With a "high margin, low labor business model," he has "room" to boost pay. The self-service approach means overall labor expenses stay minimal, saying "things are okay" on costs despite wage hikes. Unlike restaurants with more staffing needs, 16 Handles' self-service style limits wage inflation impacts. Though raising pay helps retain employees, Hershman emphasized margins enable those investments while keeping labor costs contained. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith

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