It’s the People, People!
Most companies are only focused on using technology to eliminate the talent challenge. They’re ignoring the other massive opportunity – using technology to solve the talent challenge.
There was an article floating around the office the last couple of weeks about the “turnover crisis” in the fast-food industry. Employee turnover is well above 100%, with many companies dealing with 130%-150%. Bureau of Labor statistics bear this out – the turnover rate for the entire restaurant sector was around 82% in the period between 2015 and 2017, and industry experts say it’s only gotten worse. Many companies have given up on making their stores an attractive place to work and are instead spending billions (yes, that’s billions with a B) automating their way out of the problem. To us, that’s a huge mistake. Automation certainly has a place, but there are two sides to this coin. Most companies are only focused on using technology to eliminate the talent challenge. They’re ignoring the other massive opportunity – using technology to solve the talent challenge. There are very human, very affordable, very tech-driven ways to attract, retain and develop talented staff, even to the fast food industry. Here are a couple of suggestions.
The 100%+ turnover problem is solvable and solving it can make a big difference for SMB’s and the huge segment of the US workforce who rely on them for jobs. Yes, professional and executive talent acquisition is interesting and challenging, but working at the other end of the workforce continuum is equally challenging and interesting…and impactful.
Jim Kerwin is a senior product manager at TalentBoost (www.Talentboost.cloud). The team at TalentBoost have developed a platform specifically built to deliver big company HR capabilities to small- and medium-sized businesses, by partnering with franchisors and independent dealer network operators.