6 Strategies for Dealing with Labour Shortages in The Hospitality Property Industry | Ep. #278

The Great Resignation. The Big Quit. Whatever you want to call it, it’s here, it’s real and the hospitality industry has been hit harder than just about any other industry.I’m going to share 6 strategies for dealing with labour shortages.When it comes to a turnover crisis, one would be hard-pressed to find a sector in more trouble than the hospitality industry.With COVID-19 as the spur, and other factors adding energy — like relief funding, additional virtual training opportunities, and uncertainty for employees, the hospitality industry is facing extraordinary labour shortages.In the early days of the pandemic, layoffs and furloughs became commonplace as stay-at-home orders were in effect and the government restricted travel. However, as the world begins to reopen and travel is top-of-mind, the industry is struggling to re-hire or even retain the employees they have. This is especially true for hospitality properties from bed and breakfasts and small boutique hotels all the way up to chain brands.Properties are grappling to hire as years of low pay, long hours, and poor benefits catch up with them leaving many hospitality property’s short of staff. Even before the pandemic, the hospitality industry had a reputation problem.According to a 2018 UK YouGov study, the number one reason people choose to work in hospitality is that it’s the last option. That says a lot, don’t you think? Envision hiring someone who really doesn’t want to work for you, but you’re the only option in town. So, what can you do to hire and retain great employees? Given the cost of losing an employee can be between 0.5X and 1.5X their salary, it’s pretty clear that hospitality property’s need to make employee retention a strategic priority. Continue listening or reading and I’ll share 6 strategies for dealing with labour shortages…⇒ TO READ OR LISTEN TO THIS EPISODE ON KEYSTONE HOSPITALITY PROPERTY DEVELOPMENT:https://keystonehpd.com/6-strategies-for-dealing-with-labour-shortages-in-the-hospitality-property-industry-278Post COVID-19 Action Planhttps://KeystoneHPD.com/PostCovid19ActionPlan Get Your INNsider Tipshttps://KeystoneHPD.com/INNsider-TipsJoin one of your private groupshttps://keystonehpd.com/private-groupsSay hi on socialFacebook: https://www.facebook.com/KeystoneHPDTwitter: https://twitter.com/KeystoneHPDLinkedIn: https://www.linkedin.com/company/keystone-hospitality-developmentListen to The Hospitality Property School PODCAST herekeystonehpd.com/hospitality-property-school-podcastsYouTubehttps://youtu.be/d-QtuKDe1KMA Division of Keystone Hospitality Property Development