A Cornell study found that losing an employee costs a business $5,864 per employee. This cost includes expenses related to recruitment, onboarding, training, and the disruption in workflow, which all add up quickly. Unfortunately, these costs have an even larger impact on the hospitality industry. Turnover rates are nearly double for hospitality organizations, with an average loss of $9,932. This can get very pricey very quickly for hotel managers. A U.S. Bureau of Labor Statistics report notes ...
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