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The network, which People 1st has called ‘The Wire’, is free to join and is intended to be a platform for companies to discuss the themes of the report.

“With a crippling labour turnover rate of 75%, the three key drivers of change - rising costs, recruitment difficulties and changing employee expectations - are forcing businesses to rethink the way they invest in and develop their people,” said the report’s author, Martin-Christian Kent, executive director at People 1st.

He added: “We hope that The Wire will offer a valuable platform for collaboration and the sharing of ideas and best practice.”

The HR consultancy group’s network launch aims to connect businesses of all sizes with brands that are making progress in tackling performance improvement and productivity.

After conducting interviews with senior HR professionals across 40 large hospitality and tourism businesses, the report found that two thirds of major employers within the sectors were actively considering how to improve productivity.

The report put the sectors’ Gross Value Added (GVA), which measures individual contribution to the economy, per head at £25,899, which it found was half that of the manufacturing and passenger transport sectors.

Companies which took part in the research included BaxterStorey, CH & Co and Harrison Catering Services Ltd.

To join The Wire, go to www.people1st.co.uk/the-wire or to view the full report visit: www.people1st.co.uk/performance-talent-revolution