The Great Resignation, also known as the Big Quit and the Great Reshuffle, is a term coined due to the ongoing economic trend where employees have voluntarily resigned from their jobs. This began in 2021, and the implications can still be felt today as hospitality workers continue to resign and staffing shortages become a norm in the industry.
While the future of hospitality will surely find balance, the present need for staffing services is undeniable. Read on to learn how Elite Staffing can help you fill the void.
Why are hospitality workers quitting?
Greater Turnover
The hospitality industry is notorious for turnover for numerous reasons. In the past, it was primarily due to finding other work after a few years or simply not being cut out for the high demands of the field. With the Great Resignation, there are even more reasons at play.
Demographics
From now until around 2030, around 10,000 Boomers hit retirement age each day. This causes resignation based on age alone.
With the rising cost of living, there is also a population migration with those living in more expensive states like California and New York. These individuals can be found migrating to lower-cost states like Indiana or Kansas.
Burn Out
The record number of workers quitting their jobs in hospitality often cite mental health as a common reason. From burnout to substance abuse disorders, a survey shows people in this industry suffer at higher rates. So, it appears that providing only the perk of a “shift drink” or “shift meal” simply will not cut it; and may be doing more harm than good.
Health Fears
For an industry notorious for lack of traditional benefits and much hard work dealing directly with the public, many people returning to hospitality after the pandemic are reevaluating their goals.
Bad Management
Unfortunately, a lack of solid managerial support is a common reason for workers to leave the industry. Employees want to feel that the management team is there to actually help employees succeed.
Increased Competition
The Great Resignation is upgrading industry benefits and perks, says The Washington Post. From life insurance and college tuition to overall job satisfaction, employers have to step up their game.
There is an increasing need for staffing in many industries right now, with many offering attractive benefits, incentives, and flexibility. With this in mind, many people are moving towards jobs where they can work remotely and stay healthy from home.
Greater Demands on Staff
With the onset of COVID, remote work became more accessible. Lockdown led to people reevaluating their career goals and many are now searching for higher-paying jobs. Along with this, economic inflation also leads to employees seeking higher pay.
Statistics show that organizations who are not increasing pay wages for workers are essentially giving them an 8-10% pay cut due to the current aggregate rates of inflation. This choice could lead to even more people leaving their jobs in search of better paying employment.
How Elite Staffing Can Help
What’s important to note: 63% of workers say that the leading reason for leaving the hospitality industry is because they need to make more money, says a Workable survey.
Elite Staffing is unique in that we build relationships with our staff and offer competitive pay, consistent hours, travel housing, and so much more!
Together, with Elite Staffing, we can help your hospitality company overcome the impacts of the Great Resignation. Whether you have an urgent need for immediate short-term staffing or you are looking for a more permanent fill – we’ve got you covered.
Want to learn more about how Elite Staffing can help your business? Let’s connect.