(March 4/18): On Feb. 21, Bruce McAdams, Assistant Professor, School of Hospitality, Food, and Tourism Management at the University of Guelph, hosted an exciting and insightful webinar, Employee Retention: A Key Driver of Profitability for Restaurants Canada members.
McAdams shared his insights on why long-term employment and retention strategies are critical to the success for businesses in Canada. He delved into topics such as why retention is important, how turnover costs affect businesses bottom lines, internal v. external hires and ways businesses can improve their employee retention abilities.
Following his presentation, McAdams answered questions posed by viewers to shed some light on real-world issues they face in regard to employee retention, including demographics, strategies and advanced planning.
One key issue that was emphasized was the importance of holding exit interviews with parting staff. By posing the same questions each time, owners and operators can identify and track any recurring trends, and then adapt / adjust their procedures and policies accordingly in order to improve retention.
Don’t miss our next webinar at 2 p.m. EST on March 21! Joe Baker, Dean of Centennial College’s School of Hospitality, Tourism and Culinary Arts, will discuss Understanding the Millennial Workforce.
Baker will examine how industry professionals can recruit and retain millennials, how to motivate this demographic to achieve shared success, and how to leverage millennials to help your business embrace the future. You can register here.