The War for Talent
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PeopleMatter partner, HotSchedules, shares how to stop the tailspin of high turnover and greater labor costs amid a growing workforce.
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The War for Talent
- 1. The War for Talent
- 2. TURNOVER IS INCREASING 2011 2012 2013 2014 40 60 80 100 120 140 Turnover%Rate Quick Service Fast Casual/Family Dining Casual Dining Upscale Casual/Fine Dining +13% +13% +10% +21%
- 3. LABOR COSTS ARE ACCELERATING
- 4. HOURS WORKED ARE SHRINKING Papa John’s CEO John Schnatter said in November that “it’s common sense” for business owners to cut workers’ hours to avoid the health care requirement.” The owner of several Wendy’s franchises said in January that he planned to cut hundreds of workers’ schedules to 28 hours per week in an aim to sidestep the health care coverage requirement. "To tell somebody that you've got to decrease their hours because of a law passed in Washington is very frustrating to me," said Loren Goodridge, who owns 21 Subway franchises. "I know the impact I'm having on some of my employees." Source: HuffPost Business, Obamacare Not Actually Causing Companies To Cut Worker Hours: Survey Source; CNBC, Businesses claim Obamacare has forced them to cut employee hours
- 5. 2016 14.4 M 2026 16.1 M 2006 12.3 M THE WORKFORCE IS GROWING “Restaurant job growth is projected to outpace the overall economy in 2016, and the industry will add more than 300,000 jobs for the sixth consecutive calendar year ...” - Bruce Grindy, NRA Chief Economist
- 6. HOW BAD IS IT? WE DID THE MATH $3,328 Per Employee Productivity Loss Recruiting & Interviewing Orientation and TrainingPre-departure $4.7Billion Industry Spend
- 7. THE WAR FOR TALENT IS OVER & THE MILLENNIALS WON Tech-savvy WHO THEY ARE WHAT THEY WANT Multi-tasker Connected Work/life balance Transparency Collaboration
- 8. ARE YOU PREPARED TO WIN IT?
- 9. THEIR IMPACT WILL BE PROFOUND Supply Chain Marketing Workforce Mobile First Design is
- 10. THE PEOPLE MODEL IS CHANGING 25% of employees leave their job due to poor on-boarding and lack of training opportunities It costs approximately $3,328 to find, hire and train a replacement for a $10/hour retail employee In 2016, 15 states will have $9 minimum wage rates and many will rise to at least $10. AND IT’S IMPACTING YOUR MARGIN
- 11. HOW DO YOU STOP THE TAILSPIN?
- 13. Support a work life balance. Give feedback and ask for it in return. Provide continuous opportunities for education and training. Tell your team what you are measuring and how so they can participate. BUT HOW?
- 14. WORKFORCE EMPOWERMENT GIVES YOU A COMPETITIVE EDGE 74% want tech in the workplace 40% of all hires are referrals 7out of 10 workers are not engaged ENGAGEMENT RETENTION RECRUIT TECHNOLOGY
- 16. TIME SPENT HIRING IS NOT SUSTAINABLE Between recruiting, hiring, retaining and training, managers have little time left for anything else. 66% 27% 74% 71% 74% of restaurant operators are very or extremely concerned about recruitment 71% of restaurant operators are very or extremely concerned about turnover and retention. 27% of hourly restaurant workers are terminated in the first 3 months 66% of people are employed for less than 1 year Source: TDN2K
- 17. HOTSCHEDULES RECRUIT Best Candidates Best Reach Pay for Performance ● Single platform with access to 100’s of job boards ● Social recruiting ● Leverage the HS Network ● Pay per candidate ● Pay referral bonuses ● Proactive Candidate Search ● Screening Questions ● Rich Profiles ● Verified Work History ● Followers ● Referrals
- 19. WITH MULTIPLE JOB TYPESFull time, part-time, shared, on-demand Share of U.S. adults earning income in a given month via online platforms, often referred to as the gig or sharing economy. Labor platform (such as Uber, TaskRabbit) Capital platform (such as, Airbnb, eBay)
- 20. SHARED EMPLOYEES HotSchedules Recruit can build your bench
- 21. How We Help 4
- 22. 6,500,000 Communication in your restaurant is critical. Have you given your managers the tools they need to be successful in tracking shift notes, staff performance, feedback, maintenance issues,food safety, and beyond? Did we mention how important communication is? Not just between managers, but to teams by job code, to the entire staff, to each other.19,000,000 510,000Because when you need a few extra bucks, you take every shift you can get. MADESENT Logbook Entries Messages 920,000Because schedule flexibility is not just a nice to have, especially with Millennials. It's expected. Are you winning? PICKED UP Shifts SWAPPED Shifts 5,000,000Online Courses Delivered because this generation wants to learn fast, on any device from anywhere so they can start working on-demand. 2,000,000Restaurant-focused job seekers As well as 60,000,000 job searches each month. In 2015 alone, HotSchedules customers...
- 23. A PROVEN RECIPE FOR PEOPLE MANAGEMENT 75% of QSR 80% of the top chains, 70% of the top 10 restaurants and hospitality brands. When I get up I check Facebook, Twitter, and HotSchedules.
- 24. HOTSCHEDULES #1 downloaded scheduling app on iTunes 2M users 60M monthly logins PEOPLE PRODUCTIVITY PLATFORM Recruit - Train - Schedule - Engage Print and Digital Logbooks - Inventory - BI Aggregate - Analyze - Build THE RESTAURANT MANAGEMENT PLATFORM
- 25. YOUR QUESTIONS