One of the hardest hit sectors in the 2008 recession, the restaurant and hospitality industry was also one of the fastest to recover. However, it also tops another key metric—turnover, which in its fifth consecutive year of annual increase reached 72.1 percent in 2015.
Adding to these market challenges is one which the BLS observes to be unprecedented: The youth labor pool, which has historically served as a main talent source, is shrinking and has been unable to satisfy demand in recent years.
Compounding, and perhaps contributing to, this talent pipeline challenge are disruptions caused by regulation, innovation, and generational shifts in the workforce.
The Affordable Care Act has impacted expenses and part-time work arrangements; the rise of the Sharing Economy has added new, and often unregulated, competition; and the wave of retiring Baby Boomers is estimated to leave as much as a 9% gap in the hospitality workforce.
CareerArc offers innovative talent solutions for today's toughest challenges in hotel and restaurant staffing. Built to maximize your talent acquisition and employer branding ROI, CareerArc proudly serves as one of the leading hospitality staffing solutions on the market.
— Jennifer Scott, VP of Human Resources, Bar Louie Restaurants
"The results CareerArc has helped ICE accomplish have been nothing short of amazing. Within the first few months we saw a 7x increase in applicants and 5x boost in clicks per job posting. We were wowed and extremely pleased with this level of response so early into the program."
— Melody Nelson, Recruiting Specialist, International Cruise & Excursions, Inc. (ICE)
"We've seen a major surge in internally-promoted managers who were initially sourced through social channels as hourly hires. CareerArc has certainly improved our quality-of-hire. They've proven their recruiting solution can, in the long-term, impact retention—our highest measurement of recruitment ROI."
— Jennifer Scott, VP of Human Resources, Bar Louie Restaurants