Casinos.co.uk: Casino News Archive
Friday 13th April 2007
Fickle staff cost casinos
Staff who walk out of work can cost casinos millions of dollars, a US gaming industry consultation firm has revealed.
Employee turnover in some US casinos can be as high as 80 per cent, according to Maryland-based Robinson & Associates.
Martin R Baird, chief executive officer of Robinson & Associates, told Casino Extra: "In the hospitality industry - and this should also hold true for gaming - Cornell (University) researchers say turnover in less complex jobs costs $5,693 per hire.
"The cost of replacing someone in a complex job is $9,932. Most jobs at casinos are of the complex variety. This means it costs a casino almost $10,000 every time an employee leaves."
Baird added: "If the property is upscale, that cost skyrockets to more than $12,000 per person. If a casino has 1,000 employees and 40 percent turnover, it could be watching between $2.7 million and $4.8 million strolling out the door each year. That is a serious drain on company resources."
The expert concluded: "They want to get this problem under control. If they knew just how truly harmful employee turnover is, they would be even more determined to rein it in."
Source:Direct News
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