The hospitality sector has increasingly become fragmented " throughout the past decades, the industry has been shaped by the changes in ownership and by the heightened degree of specialisation, innovation and the emergence of new business models and market players.
At the same time, society at large is undergoing a major shift as Baby Boomers exit the work force, handing over the reins to Generation X and the Millennials.
Many studies highlight that this new workforce has a completely different set of values " worklife balance is high on the list of priorities and being “fulfilled” and “engaged” is critical.
Arguably, traditional ‘linear’ career models have become almost obsolete as a consequence of both the changes in the industry and society. It is therefore disheartening that many organisations cling to dated talent management SOPs.
Above all, the focus still appears to be on retention and retention only. Yet, given the fragmented nature of the industry and the thirst of today’s workforce for mental stimulation and continuous career progression, it appears that a new way of thinking is required to develop a sustainable talent pool.
Going forward, human capital strategies may need to be re-engineered and firms may have to adopt a more inclusive and collaborative talent management program " resulting, for example, in “open source” talent pools or employee exchange programs.
The article is merely intended as food-for-thought and perhaps a wake-up call for the industry - the hospitality sector prides itself on streamlining processes, coming up with new culinary experiences or creating the most memorable overnight stays; yet, it easily forgets to also follow through on the promise of innovation in the area of human resources and talent management.
Read the full article HERE.
About the author:
Thomas Mielke is a founding member of AETHOS Consulting Group and has authored a number of articles on leadership, corporate governance, emotional intelligence and managerial core competencies that predict job performance within the hospitality industry.
Thomas is Managing Director at AETHOS Consulting Group and an AESC-certified executive search consultant. He has a track record in successfully placing senior executives at leading hospitality companies across the EMEA region and is working together with travel wholesalers, real estate developments firms, investment companies and sovereign wealth funds in identifying key talent. Thomas also works hand-in-hand with clients in establishing compensation schemes as well as organisational structures and workflows. Thomas is a graduate of Ecole hoteliere de Lausanne and holds a BSc. in International Hospitality Management.
For further information, please contact:
Email: tmielke@aethoscg.com
Tel.: +44 (0)20 7065-1392
