Employee Retention Strategies in Hospitality
Added on 2021-04-24
13 Pages2865 Words267 Views
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Employee Retention an issue forrestaurateurs and propose solutions fordecreasing turnoverStudent Name: Student ID:Subject Name: Subject ID:Date Due: Professor Name:1 | P a g e
Executive SummaryEmployee retention is a critical issue within contemporary organizations. Especially in food andbeverage industry employee turnover is high compared to other industries. Though there areseveral factors attributed to the same, they causes various harmful impacts on restaurant. Thescope of this analysis pertains to analysing issue of employee retention in restaurants and ways toovercome the same. 2 | P a g e
Table of ContentsExecutive Summary.........................................................................................................................21.0Introduction...........................................................................................................................42.0Challenges and Impact of Employee Turnover for Restaurateurs........................................43.0 Reasons for Turnover and Ways to Reduce Turnover...............................................................64.0 Recommendations......................................................................................................................95.0 Conclusion...............................................................................................................................104.0 Reference Lists........................................................................................................................113 | P a g e
1.0IntroductionEmployee is the most important resource for any organization. Restaurant industry in thewhole world constitutes economy’s greatest employer of teens[ CITATION Ton08 \l 1033 ]. Every 1amongst 3 teenagers are employed in restaurants as examined by the Bureau of Labor Statistics.Due to the seasonality of the industry, staffing levels greatly vary as during summers staffingneeds gets added, which significantly gets reduced during other months of the year. Almost ashigh as 31% workforce within restaurant industry is part-time or seasonal in nature. Inspite of allthese conditions employee retention is an immense issue that is experienced across restaurants ofthe world. Employee absenteeism and employee leaving is high compared to total number ofretained employees. The scope of this report analysis the issue of employee retention with waysof overcoming it in restaurant businesses. 2.0Challenges and Impact of Employee Turnover for RestaurateursEmployers control various aspects of an employee’s work at a restaurant but employees dueto certain dissatisfactions leave jobs. Employee turnover is expensive and can results fromvarious issues of the management[ CITATION Alo09 \l 1033 ]. While U.S. Bureau of Labor Statisticsattach 33 percent of employee turnover issue to compensation as benefits and wages. But otherfactors as employee morale immensely impacts negatively employee effectiveness andefficiency. Employee turnover can have serious consequences on any restaurant impacting theiroperations and cost factor in various manner. Most integral impact of employee turnover is costrelated to lost productivity and replacement costs. When an employee leaves the organization,there needs to be advertisement, recruitment, selection, interview procedure and then subsequenttraining and induction. These costs add up to a substantial amount that restaurateurs have to bear4 | P a g e
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