The cost of staff turnover is one of the largest – and hardest to calculate – costs to a business. There are five major elements to this cost, some tangible and others intangible. We like to think of them as five reasons to limit your staff turnover.
Managers in the hospitality industry have difficult challenges to meet when it comes to employee retention, training, meeting high health and safety standards, and developing a good safety culture. The high turnover rate of employees and other factors we'll discuss, contribute to these overall challenges. In order to gain insight into this, let's discuss 4 factors showing the importance of health and safety training in the hospitality industry.
In an ideal world, every employee would be productive and happy, would recruit more productive and happy employees for you, and would never want to leave their jobs. Unfortunately, reality is not so ideal. Employee turnover in the hospitality industry is an enormous problem; a 2015 Deloitte study found that turnover can be as high as 31% for restaurant and hotel employees. That's a staggering figure!