Domino's Pizza CEO says the company has to start paying more

Domino's CEO Patrick Doyle says his brand needs to pay more to recruit talented workers.

"We've gotta pay more to get people right now," Doyle told CNBC. "The great news is the economy is moving, it is getting better, it's getting harder to hire people."

The average delivery driver at Domino's makes $7.76 an hour, according to Glassdoor. Cashiers make $7.94 an hour.

Domino's business is 90% franchised, meaning that individual operators set pay rates, reports Emily Cohn that The Huffington Post.

Here's the interview with Doyle:

Retail and restaurant companies are increasingly offering better pay to retain workers and increase customer service.

Wal-Mart and McDonald's have recently announced they will raise wages.

While this expensive investment is driving the share price down right now, it's actually necessary for long-term success.

"Pay and benefits are a key ingredient to improving the store experience," CFO Charles Holley told press and analysts in February.

Domino's business has been booming.