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A global shortage of workers and competition for these workers is at an all-time high, and a group of international universities are teaming up to research and address the pressing issue of employee turnover.
The group of universities, including Lincoln University in New Zealand, is collaborating with industry stakeholders and launching a comprehensive survey to understand the dynamics of employee turnover within the tourism and hospitality sectors.
“Acknowledging the inevitability of some turnover, it’s critical that we gain insights into the underlying trends driving this phenomenon, a phenomenon that comes at a significant cost to businesses,” says Lincoln University Associate Professor Anthony Brien.
“Recent estimates suggest that employee turnover in the New Zealand hotel industry alone costs more than $200 million annually; reducing this by half would add significantly to the industry’s bottom lines via increased profit. These figures underscore the urgent need for a deeper understanding of turnover dynamics and their impact on organisational success.”
Reducing turnover isn’t just about cutting costs; it’s about fostering a stable, engaged workforce that drives profitability and enhances guest experiences, says Professor Brien.
“Research consistently shows that organisations with lower turnover rates tend to experience higher levels of productivity, customer satisfaction, and, ultimately, profitability.
“Effective recruitment and retention strategies are paramount for staying competitive in the ever-evolving hospitality landscape, and by participating in this survey, industry professionals will have the opportunity to contribute to the collective knowledge base and gain valuable insights into best practices for talent management.
“Understanding the implications of employee turnover on the workforce can also inform policy discussions related to immigration and workforce development. By leveraging this data, policymakers can make informed decisions supporting the industry’s growth and sustainability.”
The results of this groundbreaking survey will be shared with industry stakeholders, providing valuable benchmarking data and actionable recommendations for improving retention strategies. This collective knowledge-sharing initiative will benefit individual organiations and contribute to the overall advancement of the hospitality and tourism industry.
“We urge all stakeholders within the hospitality and tourism industry, large and small, to participate in this vital survey,” says Professor Brien.
“It only takes 10 minutes to complete. Together, we can drive positive change, enhance workforce stability, and ensure the long-term success of our industry.”
To participate in the survey, which only takes 10 minutes to complete, visit the Tourism and Hospitality Employee Turnover Survey or contact Associate Professor Anthony Brien at Lincoln University for more details.
