Why The Service Industry Must Leverage Technology To Retain Top Talent

By Steve Shapero, Zinc

Unemployment is at historical lows. What does this mean for the service industry, and what can employers do to better retain talent? Service work involves a high turnover rate for employers as employees are often required to engage with customers who might not be having their best day, on top of performing their actual duties. These range from fixing a broken air conditioner in a Florida hotel room to installing a new satellite dish on the top floor of a New York City apartment building on a rainy day.

Developing the expertise and skills of employees is costly and time-consuming, yet many employees choose to leave a position after less than one year. Economists say that today, generally everyone who wants a job can get one, with unemployment dipping below 4% for the first time since 1963. Therefore, experts observe that “the focus of policy seems as if it should be less on creating more jobs and more on trying to make the jobs that exist as good as possible, on all dimensions.”

When investing in employees is time-consuming and costly, and when skilled workers have their choice of opportunities, employers must consider what options they have to retain talent and improve the operating environment in which employees perform their duties.