Struggling to Retain Top Talent? Keep It Simple – Pay Competitively and Offer Great Benefits

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There is a tendency to overthink what it takes to attract and retain top talent. Will team builders help? Casual Fridays? What do people want? Competitive pay and benefits! Perks are great, but no matter what you offer, people count on a living wage and benefits that can make a real difference to their physical and mental well-being. In the hospitality industry, turnover is high, so it’s essential to continually benchmark yourself against the competition to give your people an incentive to stay.

What benefits are leading the way?

When unemployment is low, candidates can be highly selective about where they choose to work. But even when the economy is weak, the best candidates are in high demand. It’s even more essential when businesses are struggling that every employee is top-notch. Employees are aware of their value in the market and will not hesitate to investigate greener pastures. Keep your best hotel and restaurant employees on board with these popular and creative benefits

Health and wellness

Provide a range of health insurance options for your employees to choose from. Include medical, dental, and vision if possible and give them support to help make the best decision for themselves. It can be tough to navigate all possible options without guidance. Take a holistic approach that considers the needs of employees at all life stages. Some employees may look for extended maternity/paternity leave time; others would like more vacation time while those nearing retirement might be interested in a part-time schedule.

Flexible work options

While most hospitality jobs are client-facing, some can be done from home. This can increase job satisfaction and reduce burdens on your resources. Analyze what jobs can be effectively done from home and create policies that keep people accountable and productive. Be sure they know what support is available to them. If work from home is not an option, flexible hours may be an option. Talk to your employees to find out what they would value most.

Outside the box choices

Go beyond the obvious benefits that will bring genuine value to your team members. For example:

  • Free meals or deeply discounted rooms
  • Financial/Retirement planning assistance
  • Extended paid family leave
  • Stress relief and mental health programs
  • Student loan assistance.

There’s no limit to the strategies and tactics you can try to retain top talent and keep your people engaged and happy. It all begins with the right management staff.

Partner with a Specialized Hospitality Recruiter

The number one reason people leave their jobs is that they don’t like or respect their manager. At Horizon Hospitality, we are experts in recruiting top hotel and restaurant managers and executives.  Contact our hospitality recruiters today to learn more.

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