Employee turnover affects every business and industry, large and small, but turnover is highest in the retail, customer service, hospitality, and service industries, according to the Bureau of Labor Statistics. How do you combat turnover when the robust job market gives employees their pick of positions? Today on the MarketScale Food and Beverage Podcast, host Shelby Skrhak answers that question with Frank Pereira, Managing Partner at Coleman Consulting Group.
“If you’ve ever been in that manager position where someone comes to you and says ‘I’m leaving,’ that’s usually your best employee because those are the ones in the job market that can find a new job,” Pereira said. “That terrible feeling you have… How do you think their peers feel?”
When a team member leaves, they take not only their labor but knowledge and a piece of the company culture away with them. Those are the intangibles, but there is a very tangible cost of replacing an employee, which can range from $8,000 upwards to $15,000 in candidate searching, training, and other on-the-job costs.
How do you prevent turnover? Focus on retention.
“The best way to retain employees is the schedule. A good schedule can go a long way,” Pereira said.
“You have to remember people build their lives around their work schedules,” he said. “We spend over half of our waking hours at work. And after serving hundreds of thousands of people, we know the number one thing people want is more days off.”
Well-rested employees make for less turnout, fewer incidents of mistakes, and lower absenteeism, Pereira said. “It’s the difference-maker.”
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