You’re Hired! Now how do I keep you?

Karen McWilliams, VP Revenue Strategy

Ali Griffin, Corp Director Revenue Strategy

Concord Hospitality, LLC

1. Understand the true cost of turnover

2. Recruitment Best Practices

3. Define Revenue Management Culture

4. Associate Engagement as a Priority

5. Measuring Associate Satisfaction

Objectives

• Worldwide Researchers suggest that turnover is the

highest in the hospitality industry (CHA International)

• Turnover can reach 300% (!) according to American

Hotel Association

• Turnover costs including recruitment, training and

onboarding are estimated at half to one-and-a-half times

the annual salary! ($$$$)

• Turnover costs above do not include lost revenues

due to poor revenue strategies

Associate Turnover

Why do we lose associates?

Aspire to better work life balance

Faster Career Growth

Need for Better Pay

Tired of constant personal sacrifices

Want to feel valued

Need culture and intellectual stimulation

Aspire to better work life balance

Faster Career Growth

Need for Better Pay

Tired of constant personal sacrifices

Want to feel valued

Need culture and intellectual stimulation

A $5k to $100K+ expense

depending on the position!

Recruitment Best Practices

Resume finders

Known skillsets

Hire from within

The values & behaviors that contribute to the unique

social and psychological environment of an organization.

(1) the ways the organization conducts its business, treats its

employees, customers, and the wider community,

(2) the extent to which freedom is allowed in decision making,

developing new ideas, and personal expression,

(3) how influence and information flow through its hierarchy,

(4) how committed employees are towards collective objectives.

Culture

What drives associate engagement?

• A solid company culture must exist.

• People are inherently driven to maximize

satisfaction

• Momentum of financial gain

• Importance of skill enrichment

• Desire to be valued & appreciated

• Take an active interest in the person, not simply

the position

The Importance of Culture

• Give each team member a voice, ask

opinion

• Help create goals that are personal

• Allow vehicles for team members to be part

of the process, not handed the process

• When we teach, we learn

• Provide a learning management system

that allows for continuous improvement

Vital Behaviors

• Monitor PTO, max out? Poor life quality

• Birthdays and Anniversary

• Remote teams – Virtual Lunch or Happy Hour

• One day per week “Lunch with Friends”

• Contest Monthly – Find the Fun!

• Stay Interviews bi-annual

• Succession Plan, not simply annual goals for the

‘position.’ Focus on the person

• Send a note home to kids with a lottery ticket

Internal Marketing Plan

Manager

$

Leader

$$$$$$$$$$

Family matters!

Confident Career Growth

Path to Better Pay

Desire to be more involved

Feel valued

Intellectual growth

• Uncover the authentic reason

• Invest time vs. spend time

• Be supportive and hold the mirror

up, have we lived the culture?

• Check in frequently

• How does the associate define

success?

When disconnection starts

Top performance

Live the Culture

Hire the character, teach the

skill Invest time vs Spend

time

Add it up!

• Offer confidential venues for feedback

• Measure associate satisfaction and make

it public

• Set turnover goals and review with team

• Treat feedback with respect and work

together to be solution driven

Measure Success

• Never miss an opportunity to publicly

praise

• Reward great results with experiences that

illustrate a genuine thank you

Celebrate Success