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As a Hospitality Employer Are You Worried about Losing Your Top Employees?.
With the current economic downturn starting to ease many companies are starting once again to increase staffing levels and according to a recent CareerBuilder survey, hospitality employers must take steps to preserve the top talent they currently have within their organizations.
The new CareerBuilder survey states that 30 % of hospitality employers have concerns regarding the loss of their high-performing employees in the second quarter, especially as almost half (46%) of the hospitality personnel, the biggest amongst the industrial sectors surveyed, stated there’s every chance they are going to begin searching for a new position once the economic climate starts to improve.
Subsequently, hospitality bosses are checking out a number of diverse retention tactics to help them retain those staff members and their valuable skills. The study was performed between 10th February and 2nd March, 2010 and 115 hospitality employers and 365 hospitality employees took part.
Greater workloads, extended working hours and fewer resources associated with the current recession may well be bringing about job dissatisfaction. Consider the following major points which hospitlity workers have stated have an impact on career fulfillment and employer commitment:
- Salary – 32% of hospitality employees, the largest amongst market sectors surveyed, reported they are unhappy with their salary.
- Job and Life Balance – 22% of hospitality employees reported they are unhappy with their job/life balance.
- Career Progression – 27% of hospitality employees are unhappy with career progression prospects offered by their existing employers.
The hospitality employees who have already made the decision to make a career change, shared the key qualities they shall be seeking in their new employer, together with a competitive salary and attractive benefits. A positive work culture (61%) along with reduced stress levels within their working environment (59%) were listed as most important. These key factors were then followed by:
- Career Progression opportunities – 58%
- Training and learning opportunities – 52%
- Friendship, more family-like work atmosphere – 52%
- Organization’s financial stability and growth potential – 49%
- Flexible work hours – 40%
- Feeling of control within their job, that they will make a difference – 37%
Jason Ferrara, Vice President of Corporate Marketing for CareerBuilder had this to say n respoinse to their recent survey “Many hospitality employers were forced to make unpopular, though necessary decisions during the recession in terms of adjustments in headcount, pay and overall strategy however as the economy improves and resources are reinstated, companies are employing different ways to repair and enhance the employee experience and strengthen morale.”
Other Hospitality employers have already taken steps to implement different procedures so as to preserve their talented employees and reduce staff turnover. They are already offering more flexible working hours and more performance related incentives. However investing in training has become their priority, as hospitality employees have listed the possibility of promotion and a higher pay grade in the future as one of their top five key factors when considering their future employment options.
What English Training steps have you put into place to guarantee you hold on to your talented employees?
CLICK to read the original CareerBuilders Survey