Are you losing great employees and are not sure why? Employee turnover is costing you money and here is what you need to do to stop it.
For the next number of episodes, I will be talking about your employees. From where to for the best to firing those who don’t work out and everything in-between.
Turnover rates in the hospitality industry have grown in past years, in some sectors up to 70% and this includes the hospitality property sector.
Turnover can impact everything from staff morale to a property’s ability to deliver consistent guest experiences, to budget and overall profit margins.
While there are many factors that contribute to an employee’s decision to leave, it’s up to property owners and managers to take corrective action.
Research has shown that owners, managers and executives polled believe an improved employee experience is important, only 22% reported that their properties excel in making this a priority.
There are hospitality property owners and managers out there who are doing things the way it always has been done because that is the way it has always been done.
Over the years, these owners or managers might have driven their best people away and will continue to do so until they spot the connection between policies, passion, performance and profits.
This is what I mean:
•The more policies, the less passion you'll get from your team.
•The less passion, the less exciting the team's performance will be.
•The less exciting the performance, the lower your profits will be.
There may be policies and procedures you have in place that are causing more harm than good, restricting your employee’s performance and demeaning their state of mind.
Continue reading or listen and I'll share with you my list of rules that do drive great employees away...
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