How to Boost Your Hospitality Businesses Employee Retention
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It's well-known that retention is a serious issue in the hospitality and food services sector. While the problem has always been bad, it might be worse now than ever, with unemployment at over 5%. Companies in the hospitality industry, whether cafes, restaurants, or bars, compete for a tiny talent pool.
This is driving the cost of turnover higher, but overall, it's easy to see why employee retention is such a hot-button issue. Nobody wants to lose their employees, but you have to offer the correct working environment for them to want to stay. In an industry like hospitality, which is constantly rushing, moving, and under high pressure, people aren't finding that they are getting the right benefits.
Below, we've compiled a list of strategies you can use to engage your employees and lower your turnover. Not only will this significantly impact your bottom line, but you'll also be able to be known in the industry as the business for which you work.
Help people to develop their careers. If you want people to stay with your company, you must show that you care about their future. With Mapal's Flow learning solution, you can encourage employee learning and help boost your retention rates. People don't want to work for bosses who don't care about them, and while you may need people to work hard and hit the ground running in your hospitality business, you need to show that you're willing to give something back. Investing in their future with the correct development opportunities will likely have people stay with you for the long term.
Offer the proper benefit. If you're looking to retain your older employees, look at the retirement benefits that you currently have on offer. Older employees have usually been in the industry for a while and can perform complex, higher-value jobs than younger employees who have yet to train in those areas. Retention in these employees is especially important considering that there are studies that show that losing employees who perform complex job duties costs you thousands a year. Understanding who your high-value workers are is essential, so ensuring you're offering the proper retirement and health benefits can make a big difference in keeping your older team in play.
Build an excellent culture. People need to feel engaged in their work, and it's not just nice to have; it's a strategic necessity. Having the right employment culture can help you to reduce employee retention. Encouraging fun and friendships on the restaurant floor will be more successful for you than pretending that your people are worker bees who do nothing but work. People are willing to go above and beyond when they are recognized for their achievements. It's not a downside to giving people a pat on the back or speaking it aloud when you see they are working hard. It doesn't help people to believe that that's what they should be doing is the minimum. Recognition is important, and it will help you retain people.
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