Employee Retention & Hospitality Industry
Room Division Management
Essay: Employee retention & Hospitality
Industry
Group:
Bindiya Salat (19176)
Executive Summary * Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time. * Employee retention is beneficial for the organization as well as the employee. * As soon as employees feel dissatisfied with the current employer or the job, they switch over to the next job especially in hotel industry. * It is the responsibility of the employer to retain their best employees. If they don’t, they would be left with no-good employees. * A good employer should know how to attract and retain its employees. Most employees feel that they are worth more than they are actually paid. * There is a natural disparity between what people think they should be paid and what organizations spend in compensation. * Employees comprise the most vital assets of the company. * In a work place where employees are not able to use their full potential and not heard and valued, they are likely to leave because of stress and frustration. * In a transparent environment while employees get a sense of achievement and belongingness from a healthy work environment, the company is benefited with a stronger, reliable work-force harboring bright new ideas for its growth.
Table of Contents Introduction 4 Importance of Employee Retention 5 What makes a hotel employee leave? 6 Retention Success Mantra 8 Managing Employee Retention 9 Employee Retention Strategies 9 Conclusion 11 Bibliography 13
Introduction
1.1 Employee retention
It refers to the ability of an organization to retain its employees. It is the basic idea of keeping the best employees to stay with the organization. There has been many HR strategies provided to retain employees for the advantage of the organization. These strategies are implemented to avoid employee turnover.
Essay: Employee retention & Hospitality
Industry
Group:
Bindiya Salat (19176)
Executive Summary * Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time. * Employee retention is beneficial for the organization as well as the employee. * As soon as employees feel dissatisfied with the current employer or the job, they switch over to the next job especially in hotel industry. * It is the responsibility of the employer to retain their best employees. If they don’t, they would be left with no-good employees. * A good employer should know how to attract and retain its employees. Most employees feel that they are worth more than they are actually paid. * There is a natural disparity between what people think they should be paid and what organizations spend in compensation. * Employees comprise the most vital assets of the company. * In a work place where employees are not able to use their full potential and not heard and valued, they are likely to leave because of stress and frustration. * In a transparent environment while employees get a sense of achievement and belongingness from a healthy work environment, the company is benefited with a stronger, reliable work-force harboring bright new ideas for its growth.
Table of Contents Introduction 4 Importance of Employee Retention 5 What makes a hotel employee leave? 6 Retention Success Mantra 8 Managing Employee Retention 9 Employee Retention Strategies 9 Conclusion 11 Bibliography 13
Introduction
1.1 Employee retention
It refers to the ability of an organization to retain its employees. It is the basic idea of keeping the best employees to stay with the organization. There has been many HR strategies provided to retain employees for the advantage of the organization. These strategies are implemented to avoid employee turnover.
Bibliography: * http://www.hcareers.com/us/resourcecenter/tabid/306/articleid/328/default.aspx * http://ivythesis.typepad.com/term_paper_topics/2011/03/thesis-on-employee-retention-in-hotel-industry-in-hong-kong-case-of-harbor-plaza-hotel.html * http://scholarworks.umass.edu/cgi/viewcontent.cgi?article=1092&context=refereed * http://www.fifa4you.com/ligazeitung/pictures-of-employee-turnover&page=5 * http://www.fifa4you.com/ligazeitung/pictures-of-employee-turnover&page=4 * http://www.fifa4you.com/ligazeitung/pictures-of-employee-turnover&page=3 * http://www.fifa4you.com/ligazeitung/pictures-of-employee-turnover&page=2