Job Openings And Labor Turnover Essay

1422 Words6 Pages
to leave and that employers should improve the work environments condition, which would improve job performance. Turnover in the Restaurants and hotels Employees play a pivotal role in delivering customer service to customers and generally speaking companies are aware of that role. However, companies seek out every avenue necessary to keep internal cost at a minimum while being able to offer price commitment. A great deal of these cost reduction strategies maybe the cause of the increase in the latest turnover number in 2014. It was reported that for the past four years prior to 2014 there has been an increase in turnover rate in the accommodation industry. In 2014 According to Bureau of Labor Statistics’ Job Openings and Labor Turnover (JOLTS) program. In 2014 it was reported that restaurant and accommodation sector lost 66.3% of its workforce, this number has a 10% increase from the previous four years. JOLTS breaks down this number into three major components that allow us to see the sum of the parts that makes up the total lost. The data bar chart shows that for the last 8 consecutive years the turn over rate within the Restaurants-and-Accommodations Sector and Private Sector has been constant. The three components that were evident to be contributors to the high turnover rate in 2013 are as follows: 1. Quit rate 41.9% 2. Layoff and discharge rate 17.8 % 3. Other separations, which retirements, transfers, deaths, and separations due to disability, comprised 3
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