Mr. Ferrara

Human Resources, Recruitment & Training

Keeping Your Top Employees from Checking Out

By Jason Ferrara, Vice President, Corporate Marketing, CareerBuilder

Data from the Bureau of Labor Statistics shows that, by 2010, there will be a shortage of over 10 million workers. This amplifies the tough recruitment market we saw in 2000 when there was a shortage of more than 4 million workers.

Over the last ten years, employment in the hospitality industry has grown by more than 1.6 million. With hospitality workers making up 10 percent of all workers in the U.S. and the hospitality industry continuing to see an upward trend in hiring, the competition for attracting and retaining qualified employees is already becoming more intense.

According to a recent nationwide survey from CareerBuilder.com, nearly six-in-ten hospitality workers say they plan to leave their current jobs in pursuit of better opportunities by the end of 2005. To better understand the impetus behind this wake-up call for employers, let's take a closer look at what factors are driving dissatisfaction with their current positions.

And the Survey Says...

Among the industries that CareerBuilder.com surveys, hospitality ranks among the highest in the number of employees planning to change jobs. According to the survey, forty-one percent of hospitality workers have changed jobs 5 times or more and nineteen percent have changed jobs more than 10 times. Fifteen percent of workers said they are looking for new jobs on a daily basis.

When evaluating factors of job mobility, hospitality workers pointed to feeling overworked and underpaid. Forty-two percent spend in excess of 40 hours a week at work, and forty-four percent characterize their workloads as too heavy with more than half reporting an increase over the last six months.

While workloads have increased, pay has not. Forty-five percent of hospitality workers say they are dissatisfied with their wages. Only 36 percent reported a raise in 2004 and only 21 percent received a bonus - making pay the primary reason hospitality workers plan to seek new employment this year.

Career advancement is another factor that motivates workers to leave. Three-in-ten hospitality workers say they have been passed over for a promotion at their current job, and 40 percent are dissatisfied with career development programs.

Salary, work hours and career advancement are only part of the retention puzzle. One of the top factors hospitality employees say they look for in potential employers is a good corporate culture.

Culture Club

Employees are much more likely to continue to work for companies that they feel proud of, and where they feel that they enjoy a distinctive work experience. A strong corporate culture will not only help with recruitment, but retain your current workforce.

Successful corporate cultures identify the needs of employees and foster their growth. The primary needs of most employees fall under five categories:

The next step after identifying the needs of employees is to implement a retention program that will both improve worker satisfaction levels and, in turn, increase a company's bottom line. Consider the following strategies:

Leading By Example

It is important to remember that no two companies are alike. What works for one company may not be the best for the next. Employees from every company share one thing in common. They would rather stay in their current jobs than look elsewhere. When workers feel their work is valued, they are less inclined to consider leaving.

Hospitality companies are pouring a lot of energy into making sure their employees are happy. Some examples of successful programs include:

Jason Ferrara leads the development of strategic marketing for the Corporate Marketing team at CareerBuilder.com, the nation's largest online job site with over 22 million unique visitors each month and over 1.5 million jobs. Focused on the recruitment needs of employers, Ferrara is responsible for business-to-business strategy including communications, advertising, promotions, e-commerce management, customer lifecycle and loyalty, and sales support. Prior to joining the company, Ferrara worked as Director, Online Marketing for SPSS, Inc. He holds a MBA from Kellogg School of Management. Mr. Ferrara can be contacted at 773-353-2601 or jason.ferrara@careerbuilder.com Extended Bio...

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