Introduction
With the spreading of globalization-related ideas, tourism, no doubt, has become one of the most critical sectors in relationships between countries. As a repercussion, the hotel industry became profitable and attractive for investors, entrepreneurs and employees. However, the employee turnover intentions in this industry have always had high rates, and the employees statistically do not stay in their workplace long (Wen et al., 2020). Such behavior is explained by the level of employees’ satisfaction with their job in general, including financial, material, and psychological aspects.
The Satisfaction level of Financial Rewards in the hotel industry
The level of employees’ satisfaction with their financial rewards is reflected in their evaluation of it using the five-point scale ranging from very dissatisfied (1) to very satisfied (5). The results of this assessment are presented in Table 1, which contains additional information about the employees’ gender, benefits level, and age group. Table 1 shows that most respondents are satisfied with their financial rewards in general. No strong correlation of the age, working experience, nationality, or sex of the participants with their level of financial satisfaction was found. However, the level of financial satisfaction appears to relate to the department where the employee works. For instance, most Front Office employees were either satisfied or indifferent to this indicator, while most Service employees were dissatisfied or very dissatisfied with the financial stimulation. Therefore, this indicator is probably not what affects the Employee Turnover Intentions in the hotel industry the most.
Table 1 – The Satisfaction level of Financial Rewards in the hotel industry
The Satisfaction level of Material Rewards in the hotel industry
The level of employee’s satisfaction with the material stimulation was assessed by asking questions about the benefits package, value, the number of benefits, and the amount the company pays to the employee’s benefit. The procedure implied assessment at the same five-point satisfaction scale. The answers to these questions are presented in Table 2, which shows more positive results. To be more exact, only a few participants are not satisfied with the material rewards. Many employees are very satisfied with each of four indicators: 13 – with a benefits package and the amount paid to their benefit, 11 with the value of benefits, and 12 with their number. Thus, material rewards positively influence the Employee Turnover Intentions, meaning that they decrease ETI level.
Table 2 – The Satisfaction level of Material Rewards in the hotel industry
The Satisfaction level of Psychological Rewards in the hotel industry
The level of employees’ satisfaction with psychological rewards was measured using the mentioned above five-point scale. The research results shown in Table 3 are even more unambiguous, implying that the majority of the participants were very satisfied with each of the indicators. As in the tables above, no apparent connection between such factors as sex, nationality, age group, or benefits level of the employees was noticed.
Table 3 – The Satisfaction level of Psychological Rewards in the hotel industry
The Turnover Intentions Rate in the hotel industry
This part of the research is devoted to assessing the probability of the employees’ leaving their workplaces in different periods. The turnover intentions were assessed using a scale ranging from Strongly disagree (1) to Strongly agree (5) as answers to questions concerning changing the job in 12 and 36 months. The survey results presented in Table 4 are not at all controversial with the above-discussed tables. For instance, they indicate that 11 participants strongly disagree that they often think of quitting their present job; the same number of employees strongly disagree that they may quit in 12 months. Even more, participants claim that they strongly disagree that there are not many prospects for them at the current job.
Table 4 – The Turnover Intentions Rate in the hotel industry
The Impact of Rewards satisfaction (Financial, Material, and Psychological) on employees Turnover Intentions in the hotel industry
The causes of increasing Turnover Intentions Rate in the hotel industry may differ, but in the end, turnover intention refers to employees’ awareness or thoughts about leaving the job (Akgunduz and Eryilmaz, 2018). If the employees are satisfied with the working conditions and motivation system; hence, they do not think of quitting their job and want to continue their careers in the current workplace (Baumeler et al., 2018). However, if they were financially, materially, or psychologically dissatisfied with their working routine, the results would have been entirely different.
The hotel industry is unique because of the permanent necessity of the employees to communicate with crowds of people. Consequently, they need to feel comfortable and get appropriate income for any stressful or emotionally exhausting situations they face during their working day (Park and Min, 2020). Moreover, work stress affects the employees’ performance, which may lead to the worsening of their working indicators, thus they need to feel the stability to maintain good quality (Prasetio et al., 2018). Guest service or Operations support and Assistant managers and Team Leaders are more likely to be sensitive to the factors mentioned above as their job is stressful because of constant communication with clients. The administrative personnel is more likely to enjoy their jobs and thus may not require such comfort to stay.
Conclusion
Overall, the turnover intention depends entirely on the level of comfort the employees get at their workplaces. Hence, the main factors that could help predict the Turnover Intentions Rate include the job’s financial, material, and psychological aspects. Moreover, the department and benefits level affect the possible desire of an employee to change the job. Thus, the employees’ satisfaction with their financial, material, and psychological motivation contributes to their comfort and does not increase the Turnover Intentions Rate if the conditions are appropriate.
References List
Akgunduz, Y. and Eryilmaz, G. (2018). ‘Does turnover intention mediate the effects of job insecurity and co-worker support on social loafing?’, International Journal of Hospitality Management, 68, pp. 41-49.
Baumeler, F., Johnston, C. S., Hirschi, A. and Spurk, D. (2018). ‘Networking as predictor of work-nonwork enrichment: Mechanisms on the within- and between-person level’, Journal of Vocational Behavior, 109, pp. 166-177.
Park, J. and Min, H. (Kelly). (2020). ‘Turnover intention in the hospitality industry: A meta-analysis’, International Journal of Hospitality Management, 90.
Prasetio, P., Partono, A., Wulansari, P., Putri S. T., Ramdhani, R., Abdullah. A. (2018). ‘The mediation of job satisfaction in the relation of work stress and turnover intention in hotel industry’, Advances in Economics, Business and Management Research, 65, pp. 608-612.
Wen, B., Zhou, X., Hu, Y. and Zhang, X. (2020). ‘Role stress and Turnover intention of front-line hotel employees: the roles of burnout and service climate’, Frontiers in Psychology, 11.