This is a research-based essay. Using at least 3 organizations in Research Paper

This is a -based essay. Using at least 3 organizations in hospitality industry, analyse staff tunrover, its cost and effects on the business and develop strategies to improve retention - Research Paper Example It should be noted that hospitality industry is struggling to find enough skilled personnel to cater to its employee needs. Under such circumstances, excessive amount of employee dropouts or turnover rate may not be desirable to the growth prospects of an organization. Many organizations in hospitality industry are spending too much money for the training, development and empowerment of its employees since the success and failures of an organization in hospitality industry rest in the hands of its employees. On the other hand, after getting enough training, employees usually look for better options outside their organization. All the organizations in the hospitality industry are looking for trained professionals to meet their employee needs. Thus, employees working in the hospitality industry are always getting better chances outside their organization. The words of Pinnacle’s managing director Wendy Mead are relevant here: â€Å"We are training up all these fantastic people to be so customer-centric and other industries are just coming and plucking them away from us† (Ryan, 2006). Organizations which lose employees may struggle to fill the vacancies because of the absence of enough skilled manpower in the hospitality industry. In America and European region manpower shortage is creating immense problems in all sectors. Shortage of manpower increases demand for employee in these countries and hence, the bargaining power of the employees in these countries is extremely high. This paper analyses the staff turnover, its cost and effects on the hospitality business and strategies to improve retention, taking Accor Hotels, Subway franchise organization, and Ritz Carlton as the examples. Accor Hotels is one of the leading companies in Australian hospitality industry. It is operating in all the major cities in Australia. Accor Hotels is looking for opportunities in overseas countries at present and they have already signed a contract with Dubai based EMAAR