Employee turnover is too high. What can we do to retain our valuable employees? These questions were hot topics at the 6th Annual National HR in Hospitality Conference and Expo.
Over 300 senior level Human Resources executives from the hospitality industry spent the last few days in San Francisco discussing the real cost of employee turnover to their organizations, and how it impacts the costs of recruitment, onboarding/hiring, orientation and training, and lost productivity.
The HR Hospitality professionals who dropped by our booth understand the impact their employees can have on service quality, customer satisfaction and loyalty, competitive advantage and business success. And they were looking for ideas to help them retain their best talent. So, we shared a few simple strategies and techniques to help them tackle that challenge.
For example, to increase employee engagement, satisfaction and retention:
1. Ensure ongoing, meaningful dialogue with employees about their performance. Holding an annual performance review is a fairly standard practice, but it’s equally important to ensure managers schedule regular meetings with employees to discuss performance expectations, performance results, and to address skills gaps where needed. Here are some specific tips to help your managers give effective feedback year-round.
2. Provide development opportunities to nurture career progression within your organization.
3. Solicit feedback from peers, other managers, and customers to gain a deeper perspective on employee performance. Ask managers and employees to keep – and where relevant to share – notes on performance year-round. This collaborative approach results in richer, more meaningful performance conversations.
Implementing these simple talent management best practices is one of the best ways to retain valuable high performing employees.
For example, Pechanga Resort and Casino found that communication and manager training on how to hold employee performance discussions was a big reason behind the successful implementation of its performance management process.
“Communication continues to be key, as well as ongoing management training in coaching, journaling, and providing constructive feedback. Feedback from our team members has been positive and continues to grow.”
– Tony Chartrand, Vice President of Human Resources and Talent Management
We always enjoy discussing HR trends and challenges with our readers. If you attended HR in Hospitality, what key messages from the conference resonated with you?
For more tips on how to increase employee engagement and retention, check out the following resources:
- Simple Ways to Drive Up Employee Engagement and Retention
- Establishing an Effective Employee Turnover and Retention Strategy