TouchBistro

The Ultimate Guide to Restaurant Staffing

Issue link: https://restaurantsuccess.touchbistro.com/i/724659

Contents of this Issue

Navigation

Page 8 of 11

2. RETENTION "Retaining quality staff is critical for all businesses. There is strong evidence that longer staff tenure enhances customer loyalty. Increasing staff satisfaction and retention also helps you manage the costs of losing staff, including recruiting and training new staff, and protects the business from loss of organizational knowledge." - Planning Your Business Around People: A Workforce Planning Guide In the world at large, employee retention is a priority for every business, so much so that 73% of organizations revamp their onboarding to improve their employee retention. But - brace yourself - one third of new hires quit their job after about six months and roughly $11 billion is lost due to employee turnover every year. This is not exclusive to the restaurant industry. When singled out, the employee retention numbers of the hospitality industry paint an even bleaker picture. According to a 2015 report by the US Bureau of Labor Statistics, the turnover rate rose to 72.1%, up from 66.7% in 2014. The largest contributing factor to this turnover? The quit rate, which was 50.3%. This is well above other staff turnover factors, like layoffs and discharges (19.5%) and retirements, transfers, deaths and disability (2.3%). TURNOVER RATE 2014 2015 66.7% 72.1% 5.4% 2015 CONTRIBUTING FACTORS TO TURNOVER RATE Retirements, deaths, & disability Layoffs & Discharges 2.3% 19.5% 50.3% Quit Rate 7

Articles in this issue

view archives of TouchBistro - The Ultimate Guide to Restaurant Staffing