employee retention 144
TRANSCRIPT
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Retention
of
Frontline EmployeeTalent
in
Hospitality Organization
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Rahul SharmaFaculty Food and Beverage Service
Objectives
To study reasons whyemployeesareleaving
the HospitalityOrganizations.
To study retention strategiesusedbyorganization to retain Employee Talent.
To identify what hospitalityprofessionalslook
fromtheirjobsin their organization
To identifythesatisfierthat willimprovethelevel ofemployeesatisfaction.
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Rahul SharmaFaculty Food and Beverage Service
Employee Retention
Retention isallabout keeping goodpeople
and how youmanagethem.
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Rahul SharmaFaculty Food and Beverage Service
Whatis Employee Retention?
Productivity
Morale
Customer
Satisfaction
Customer
RetentionRetention
Motivated
Engaged
Empowered
Excited
Loyal
Keeping the right employees
the most appropriate amount
of time AND moving them up
the retention curve
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Is Retention Your Competitive Advantage?
Relationship with Immediate Manager isconsideredthesinglemostimportantjob
attributeby high-valuetalent.Corporate Leadership Council
Employee Retention Study
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Rahul SharmaFaculty Food and Beverage Service
Recipefor Retention
REMUNERATE COMPETITIVELY
E -NCOURAGEMENT AND EXPECTATIONS
T RAINING AND DEVELOPMENTA -NNUAL REVIEW CYCLES
I - NFORM AND INVOLVE
N -URTURE
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Rahul SharmaFaculty Food and Beverage Service
Strategiesthat organization can useto
improve retention ratesbylooking at
Work environment (location, variety,
flexibility, culture)
Financial (basesalary, incentive, bonuses,options, benefits, recognition)
Personal (quality ofwork, skills, training, self-
leadership, opportunities)
Relationships (owners, managers, peers,mentors, customers)
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Rahul SharmaFaculty Food and Beverage Service
Human Capitalchallengesfor
Hospitality HR professionals
Recruitment
Retention Motivation
Training anddevelopment
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Rahul SharmaFaculty Food and Beverage Service
Whypeopleareleaving
No growth opportunity/lack ofpromotion
For higher Salary
For Highereducation Misguidancebythecompany
Policiesandproceduresare notconducive
No personallife Physicalstrains
Uneasy relationship with peers ormanagers
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Rahul SharmaFaculty Food and Beverage Service
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Rahul Sharma
Faculty Food and Beverage Service
FactorsImpacting: - Talent Acquisition
and Retention Jobseekersperspective
thepaypackageand otherpecuniarybenefits,
theclassand quality ofpeoplethat work in the
company,
thechallenges ofthejobandattractiveness oftheposition & designation,
the opportunitiesforcareer growth andprofessional
developmentand
The kind oftechnology, he wouldbeexposedto.
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Rahul Sharma
Faculty Food and Beverage Service
FactorsImpacting: - Talent Acquisition
and Retention Organizations Perspective
Itsbrandequity.
Philosophy.
Vision. Mission.
Culture.
Valuesandecology.
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Faculty Food and Beverage Service
Whyto Manage Talent
Skills arecapabilitiesthatcan betransferredfrom
oneperson to another, For E.g. Foodand Beverage
professionals Silverserviceisaskill
Knowledge is oftwo typesFactual-Thingsyou know
Experimental-Understanding youpickedup
along theaway
A loveforprecision is notaskill, norisit knowledge
ItisTalent.
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Rahul Sharma
Faculty Food and Beverage Service
Fiercecompetition for qualified
workers resultsfrom A robusteconomy
Shiftin how peopleview theircareers
Changesin theunspoken "contract" between
employerandemployee Corporatecocooning
A new generation ofworkers
Changesin socialmores
Lifebalance Learning oriented relationship with superiors,
subordinates, colleaguesand others
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Faculty Food and Beverage Service
Attract
Attain
Train
Retain
To improve
individualemployee
performance
organizationaleffectiveness
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Faculty Food and Beverage Service
Retention Strategies ThatOrganization
Use
Communications - Getting Your People to
Care
Set Clear Expectations
Proper Rewarding
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Faculty Food and Beverage Service
Whatemployeesarelooking from
theirjobs Challenging work
Learning oriented relationship with superiors,
subordinatesandcolleagues.
Competent Leadership
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Faculty Food and Beverage Service
Satisfiersthat willimprovelevel of
Employee Satisfaction
Growth opportunities
Competentleadership
Faircompensation Net worth ofextrinsic rewards
Challenging work
Learning oriented relationships with peers,subordinatesandsuperiors.
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Rahul Sharma
Faculty Food and Beverage Service
Measuresthat organization can use
to improve retention rates Clarifying Expectations
Recognizing Employees
Hirethe Right People
Walk the Recognition Talk
Show themyoucare
Fightattrition with smarttraining
Develop weak performers
Communication
Pridein ones work
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Faculty Food and Beverage Service
Clarifying Expectations
Goal Statementsformalizethefollowing:
Whatisto beaccomplished
Who willbeinvolved
When theactivity willbecompleted
How much itcostsand which resources will
beused
Evaluateyour work againstmeasurable
standard
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Faculty Food and Beverage Service
S.M.A.R.T.- Based Performance
Standards & Goals
Specific Detailedandclear.
Measurable Quantityandunit ofmeasure
stated.Attainable Can beperformedbytheteam
member.
Results-Oriented An outputisproduced, notan activity.
Time-Framed Completedbyadefinitetime.
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Faculty Food and Beverage Service
Hirethe Right People
Takethetimeto do it right (plan!)
Determinedesiredcompetencies, jobskillsandcharacteristics
Utilizebehaviorbasedinterviewing techniques
Train staffin hiring procedures
Assess new employeesduring probation period
Examples ofgoodandpoor hires
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Rahul Sharma
Faculty Food and Beverage Service
Recognizing Employees
Certificates ofRecognition
Stickersand Pins
Wall ofFame
Recognition Voice Mail
Thank a Family Member card
Thanksforajob welldone card
Takeaperson to lunch
Candy, Balloons, Popcorn, Movie Tickets
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Rahul Sharma
Faculty Food and Beverage Service
Walk the Recognition Talk
Nothing can replace thank you
Find outabout hobbies, sports, family
Developan attitude ofgratitude Recognizeeveryone
Makeitsincere/timely
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Rahul Sharma
Faculty Food and Beverage Service
Recentstudies haveshown that
limitedpraiseand recognition
was rankedasaprimary reason
employeesleavetheirjobs -
notmoney!
Outstanding leaders go out oftheir wayto
boosttheself- esteem oftheirpersonnel.
Ifpeoplebelievein themselves, itsamazing
whattheycan accomplish.
Sam Walton
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Faculty Food and Beverage Service
Conclusion
Asto thecustomer, theemployeeserving themisthecompany, similarlyto theemployee, themanageristheemployer.
Retaining theemployeesespeciallyyourbest onesrequiremorethan Goodiesand Gimmicks.
It requiresunderstanding their needs which candrivesatisfaction and high performancein them, andthen use his knowledgeto createan intrinsically
motivating work experience, bydoing thisorganization can become what wesayin true words, Retention worthy.
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Rahul Sharma
Faculty Food and Beverage Service
High Turnover + low Morale = reduced
employees
emotionaland
cognitiveinvestmentin
organization
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Faculty Food and Beverage Service
Morechallenging work andmoreopportunitiesto develop LOR and
More net ofExtrinsic Rewardsin
exchangefortheWork performanceRESULTS IN
low turnoverand
High Organizationalcommitment
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Rahul Sharma
Faculty Food and Beverage Service
The Bad Boss VirusGreatpeoplestayin badjobs
with greatbosses.
Greatpeopleleave greatjobs
with badbosses.
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Rahul Sharma
Faculty Food and Beverage Service