Question: what is the problem statement for this paragraph? Employee turnover within the hospitality industry is a pervasive and critical challenge, as industry - wide surveys

what is the problem statement for this paragraph? Employee turnover within the hospitality industry is a pervasive and critical challenge, as industry-wide surveys indicate an alarming average turnover rate of approximately 73% in 2018(BLS,2019). The fiscal impact is substantial, with direct replacement costs for a front-line employee reaching up to $14,000, a figure emphasized by Hinkin and Tracey (2000). Additionally, indirect expenses ranging from diminished productivity to service-related issues amplify the overall impact by 25% to 250%. ABC Hotel Group, facing a 65% turnover rate across its 100 locations, is particularly affected. The estimated annual turnover-related costs for the group are a staggering $9.8 million, posing a severe threat to profitability and brand reputation within the intensely competitive hospitality sector. Moreover, the decline in crucial customer loyalty metrics, including share of wallet and repeat visitation, underscores the pressing need for strategic interventions

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