employee retention 144

8/8/2019 Employee Retention 144

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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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Employee Retention

Retention isallabout keeping goodpeople

and how youmanagethem.


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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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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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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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Human Capitalchallengesfor

Hospitality HR professionals

Recruitment

Retention Motivation

Training anddevelopment


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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 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


FactorsImpacting: - Talent Acquisition

and Retention Organizations Perspective

Itsbrandequity.

Philosophy.

Vision. Mission.

Culture.

Valuesandecology.


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Rahul Sharma


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


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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Rahul Sharma


Attract

Attain

Train

Retain

To improve

individualemployee

performance

organizationaleffectiveness


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Rahul Sharma


Retention Strategies ThatOrganization

Use

Communications - Getting Your People to

Care

Set Clear Expectations

Proper Rewarding


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Rahul Sharma


Whatemployeesarelooking from

theirjobs Challenging work

Learning oriented relationship with superiors,

subordinatesandcolleagues.

Competent Leadership


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Rahul Sharma


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


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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Rahul Sharma


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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Rahul Sharma


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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Rahul Sharma


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


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


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


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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Rahul Sharma


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


High Turnover + low Morale = reduced

employees

emotionaland

cognitiveinvestmentin

organization


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Morechallenging work andmoreopportunitiesto develop LOR and

More net ofExtrinsic Rewardsin

exchangefortheWork performanceRESULTS IN

low turnoverand

High Organizationalcommitment


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Rahul Sharma


The Bad Boss VirusGreatpeoplestayin badjobs

with greatbosses.

Greatpeopleleave greatjobs

with badbosses.


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Rahul Sharma


employee retention 144

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