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Why Keep?
Why Keep
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High Turnover
In 2020, the overall turnover rate in the accommodation and food services sector was approximately 74%, as reported by the Bureau of Labor Statistics.
A survey conducted by Gallup revealed that the turnover rate for hourly employees in the hospitality industry reached 146% in 2020.
Low Engagement
Job satisfaction and feeling valued is crucial to both attracting and retaining the right talent while reducing turnover – and the lack of productivity and costs associated with it.
Low-engagement teams experience turnover rates up to 43% higher than highly engaged teams.
Competition
The U.S. Bureau of Labor Statistics reported that the leisure and hospitality sector had the highest job opening rate among all industries in April 2021, indicating the difficulty in filling positions.
86% of restaurant operators reported a staffing shortage in April 2021 (National Restaurant Association)
Collections
Clawbacks are expensive to enforce and many end up unenforceable.
Tax Complexities
Paying taxes up front leads to countless hours wasted on preventable W2 corrections.
Manual Tracking
Many track sign-on and retention bonuses manually, making automation and scalable edits difficult.
Automate compensation
A fully automated system to deliver upfront compensation tied to time-based and performance-based vesting
Track milestones
Enable employees and employers to track & celebrate milestones
Improve finances
Improve providers’ credit and help remove their financial roadblocks
Flexible and modifiable
Include flexible components like performance challenges, easily modify arrangements
Optimize cash flow
Optimize cash flow & AR management, defer taxes & automate collections
Reduce manual effort
Save time and money by automating manual tasks like bonus tracking, clawbacks, W2 corrections, and more.
