Payactiv

NOVEMBER 20, 2024

In this article, we’ll deep dive into hospitality industry turnover and explore potential solutions to help employers navigate this challenging environment. Average Employee Turnover Rate in the Hospitality Industry The average turnover rate in the hospitality sector is currently 4.9% , compared to the average of 3.2%

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Payactiv

JULY 18, 2023

Like many industries, QSR operators are feeling the impact of an ongoing labor shortage coupled with high turnover rates. It’s not surprising that the industry has a high turnover rate. One way to combat turnover is to improve aspects other than pay. In 2022, QSRs already cut operating hours by an average of 6.4 hours per week.

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Payactiv

APRIL 12, 2022

According to a Gallup study , employee turnover costs US businesses a trillion dollars every year. Thus, there are a trillion reasons for organizations to care about keeping turnover to an absolute minimum. High Employee Turnover Costs Money. Employee Turnover: Soft Costs. Employee Turnover: Hard Costs.

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Payactiv

OCTOBER 19, 2021

As the war for talent rages on and candidate shortages escalate, the balance of power has tipped firmly in favor of job seekers. Once you’ve finally ended your long search for that perfect candidate to fill that critical role, you need to work hard to make sure you retain them. Retain Top Talent. Minimize Recruiting Expenses.

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Payactiv

MARCH 1, 2022

At Payactiv, we believe that a well-considered, two-pronged hiring process is the way forward. Organizations need to reimagine their recruitment approaches and optimize their retention strategies. Are you looking for candidates for difficult-to-fill positions? The issue is complex and multi-faceted. Revisiting Job Descriptions.

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Payactiv

FEBRUARY 24, 2022

According to the Bureau of Labor Statistics, in an average year, the hospitality industry has a typical turnover rate of 73.8%. To fill all these empty positions hotel executives need to look at the reasons behind low recruitment rates and identify how to attract new candidates and rehire former employees.

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