The bright lights of the Vegas strip appeal to high-rollers and the employees who serve them; however, for some, the glitz and glam can be short-lived. Employees drawn by the luster often find it hard to adjust to the nightlife and long shifts, which is why many fold. In a study by the University of Las Vegas, casino HR executives report their industry turnover rate being between 25 percent and 40 percent.
High turnover is not unusual for the leisure industry; in fact, according to the U.S. Bureau of Labor Statistics, the sector ranks at or near the top almost every time. The nature of the job wears on some people, many of whom get started under false perceptions. The long hours and the physical demand of the job are frequent reasons for leaving.
With retention rates so low, casinos have been dealt a rather stiff hand. What’s in the cards moving forward? How can they improve their luck?
Job-seekers considering casino employment should be realistic: When you work there, you very well may be working for tips, not to mention working odd hours. Oftentimes you’re working while everyone else plays. With casinos open 24/7, scheduling can be not only difficult, but “tentative” depending on circumstances. It’s a tough job, and that’s the reality many people realize too late.
Trump the Trend?
That said, casinos have a certain responsibility to trump this turnover trend. Employee retention is important to business. Luckily, several solutions exist:
- Offer better benefits – 401(k), bonuses, extended breaks, a free lunch every once in a while, etc.
- Survey your employees – find out what they really want.
- Adapt a scheduling process and stick to it – flex time, shorter shifts, etc.
Solutions such as these are more likely to keep employees happy, and happy employees typically stick around.
Get to Know Your Dealer
Losing an employee can be costly. In fact, studies show that losing an average employee is 1.5 times his or her salary, while losing an exceptional employee is nearly three times his or her salary. Make sure you partner with the right dealer: one who will keep your money on the table.
No one likes losing! With the right human capital technology provider on your side, you will have no problem stacking the deck with improved on-boarding processes, proper background checks, better scheduling assistance and an easy-to-use survey tool that quickly analyzes employee-provided information to help you increase engagement and productivity.
The cards are in your hands. What’s your next move?