Although we are faced with a recession, the opportunity for continued growth and expansion in the gaming industry is the continued mantra for the foreseeable future.
The reality is that the talent to run casinos is in high demand and will continue to be, not only within the United States, but internationally as gaming continues to grow in Asia, the Middle East, Europe, and Latin America.
Employers need to enhance their recruitment programs to attract and retain talent. To do this requires some measure of sophistication and implementation of certain programs.
Human Resources Recruitment Practices
Aggressive recruitment in an employment environment in which experience is limited for the number of expected openings, will be key. It is imperative that you have in place an aggressive campus recruitment program, which includes internship programs, job fairs, pamphlets, slide presentations and material to publicize who you are as an employer. The use of recruitment advertisement vehicles, i.e., newspapers, email, and the Internet, are but a few. Alignment with a reputable retained search firm is also another consideration for your key level employee.
Compensation and Benefits
The design and implementation of a competitive compensation and benefits program is essential.
Establish salary grade levels with ranges for each exempt and non-exempt position, substantiated with current market pricing surveys. Develop bonus programs based on performance for professional and exempt positions and communicate the policies and procedures for pay practices. Include a long term deferred compensation program to retain talent.
Provide a benefits program that is based on the results of a survey of benefit programs for similar sized facilities. Ensure equitable distribution of employee and family contribution toward medical coverage. Consider the health benefits your competitors are offering their Executives. Communicate your benefits programs to your employees, ensuring they understand the value of personalized benefit programs, including defined benefit programs, such as participation in 401 K programs
Training and Development
Good training and development practices are reward employees and provide an environment for growth and advancement. Ensure that you provide Leadership and Development Skills training and Succession Planning Programs. Cross-training creates understanding of the overall organization’s operations and providing job rotation assignments will enhance technical skills and job performance. Implement a forum in which employees are rewarded for their performance by being entitled to attend an offsite Executive Training Program.
Long Term Retention Plans
The cost of identifying talent in an industry that continues to grow is only exceeded by the benefits of retaining them. Design creative retention programs that will cause employees to think twice before accepting another position.
For a publicly traded company, consider the use and the advantage of stock options or stock award programs. For non-public traded companies, design a stock equivalent plan.
You may also consider a plan that requires the employee to make a contribution to a plan, which the employer matches, placing the onus on the employee to participate in the retention plan. Follow up with employees who elect not to participate. Typical plans provide that the employee put in a % of their salary, or a fixed amount
Employee Satisfaction Surveys
This is a popular vehicle that measures employees’ perception of how well your company’s management is performing. A few rules of engagement on conducting surveys:
· Surveys should be simple to administer and have measurable results that are communicated back to the employees
· Following the survey ensure that there are actionable steps in the event the survey reveals a need for improvement or correction
· Surveys should be conducted every other year and reference should be made as to whether the survey results improved over the prior results
Recognition and Reward Programs
These programs recognize and honor the individuals and teams that demonstrate business and financial core values in their performance and contributions. Programs that are effective have received high marks in employee surveys, enhancing retention and employee satisfaction. When constructing these programs, be fair and flexible in the design of the program and use employee focus groups to develop the reward and recognition criteria. Make sure that recognition takes place on a regular basis, aligns with the culture of the workplace and is meaningful. Awards should be instantaneous and have a ceremonial event administered and recognized by the entire enterprise
Communication Programs
Finally, the last effort on behalf of the Employee is to ensure that there is an open door policy for communication. Good communication programs promote ideas, freedom of thought and exchange of information. Provide an employee newsletter that has group wide distribution, in which employees are recognized or can voice their opinions. Provide a video display in common areas of key note speeches given by the company’s management on the organization’s progress and development. Encourage team and departmental meetings to share information with employees on a routine basis.
In summary, we are entering an era in which talent will be sparse for the anticipated growth. Loss of talent weighs heavily on reduced productivity and income loss. Ask yourself; are you the management team promoting a healthy employment environment that will limit turnover and replacement costs?
Many studies in the work place have shown that a well orchestrated Human Resources and management approach to implementing sound policies and procedures in managing the employee, limits turnover. Additionally, being recognized for achievements, knowing that one's contributions matter to the organization, and the opportunity for growth and professional development have a considerable impact on employee satisfaction and commitment. | 
