Staffing & Training
High turnover is a concern of many small and medium sized businesses. According to data from the Bureau of Labor Statistics, the 2015 annual turnover rate for the restaurant industry was 72 percent, up from a rate of 67 percent in 2014. Hiring and retaining skilled employees who can effectively handle the responsibilities and demands of the job while being able to delight your customers day in and day out is key to reducing turnover and saving costs. The key to this success is an effective recruiting, hiring and training process. Once an employee is hired it is critical to train employees correctly and offer them resources to continue the success of training. These resources include employee handbooks, training manuals, checklists or job aids, mentoring programs and regular employee reviews. Creating and reviewing processes like this increase retention and efficiency with employees which overall can reduce expenses. When an employee does leave, there is the possibility of an unemployment claim. These claims can be a huge drain for any business. Avoiding wrongful terminations can help reduce the amount of benefits collected and keep rates lower. However, tax rates are only part of the cost equation. There’s also the time spent on reviewing claims, discussing them in person or by telephone, and negotiating with the review staff.