Keeping Your Top Employees from Checking Out
By Jason Ferrara Vice President, Corporate Marketing, CareerBuilder | December 15, 2009
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.