Over 100 delegates participated in TFG Asset Management’s second annual breakfast session on 17th May 2017 at the Emirates Academy of Hospitality Management.
The breakfast session was very well received and focused on a critical issue in the UAE’s fast-paced hospitality field – that is, “staff turnover”. TFG Asset Management has exerted tremendous efforts to prove that the high staff turnover benchmark which measures 30% in the UAE actually leads to detrimental effects on both the top-line and bottom-line for hotels. After one year of research, TFG Asset Management concluded that an average loss of 2.0 million USD was incurred on the top-line from this high turnover ratio and 1.6 million USD on profits. The team organized a breakfast session hospitality meeting at the Emirates Academy and invited industry experts to share their current viewpoints on this issue.
Emirates Academy of Hospitality Management’s Associate Dean – Dr. Michael Newnham commenced the event by revealing his viewpoint on the current job market in the UAE and its challenges. TFG Asset Management’s Head of Department Mr. Mariano Faz followed suit and presented his findings in this subject over the past year. The event included an engaging panel discussion with Dr. Sanjay Nadkarni as the session chair, and high-profile panelists comprising Mr. Ahmad Mohamed Al Kaitoob - Director of Human Resources at Jumeirah Emirates Tower, Ms. Emma Banks – General Manager at Jumeirah Restaurant Group, Ms. Feryal Haddon – Cluster Director of Human Resources at Hilton Dubai Jumeirah, Hilton Dubai The Walk, and Hilton Dubai Creek, Mr. Laurent Rigaud – General Manager – Operations at Golden Sands Hotels Co. (LLC).
The event ended on a very optimistic and positive note. “We hope to have raised more awareness with regard to staff turnover and its detrimental effects on hotel performance after the event.” commented Faz.
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