Human Capital Strategy in Hospitality Industry
Human Capital Strategy in Hospitality Industry
Human Capital Strategy in
Hospitality Industry: Attracting and
Retaining Talent
in a Post-Pandemic World
Human Capital Strategy in
Hospitality Industry: Attracting and
Retaining Talent in a Post-Pandemic World
The hospitality industry demands adjustability and resourcefulness because of its shifting nature. It consists of four key sectors: food and beverages, travel and tourism, lodging, and entertainment. Each sector shares the same goal of providing hospitality and a welcoming atmosphere for their customers. However, it comes with its own unique challenges which have specifically raised after the pandemic, resulting in obstructed operations and loss of talent, impacting restaurants and hotels primarily. As this obstruction has been moving towards recovery in recent years the need for talented staff is still one of the major obstacles.
For an extraordinary user experience, businesses are now focusing more and more on comprehensive talent management strategies. This strategic approach needs recruiting, developing, and retaining top talent for highly efficient workforce in hotels, resorts, restaurants, and other consumer-focused establishments. In this blog we will be highlighting the optimal approaches for Human Capital Strategy in Hospitality management from the struggles faced to overcoming those challenges, this topic will be covering all.
Post Pandemic Challenges
The pandemic was worst for the hospitality industry, and it was the most effected sector out of all others. Lockdown impacted severely by closing restaurants, hotels, and travel suspensions resulting a huge loss and unemployment rate. Although the impacts started to vanish in recent years, potential labor shortage was still there, as the former workforce resisted joining back due to the job insecurity. Talent management became more complex because of the lasting impacts of covid 19. It changed working styles focusing more on remote jobs, buyers demand, regulations and needed adaptable skills. Therefore, for human capital management companies started to look more into the workforce with the ideal combinations of capabilities, knowledge and approaches to address emerging market changes.
5 Critical Challenges in
Hospitality Capital Management
Regardless of the fact that over the post-Covid years, the hospitality industry is advancing and recovering progressively, yet some challenges are persistent, particularly in hotels and restaurants where guests demand a top-notch treatment in today’ highly competitive landscape. Here we will taking a deep dive into five most critical challenges in hospitality capital management.
Staffing Shortages
Transforming Consumer Expectations
Unconventional Work Schedules
High Operating Costs
Inefficient, Outdated Processes
Mostly, the applications and technologies used by hospitality enterprises are outsourced from a third party as they can cost an arm and leg. Even utilizing these ad hoc tools can be costly therefore some companies rely on the old-fashioned manual tasks, which is both labor-intensive and demands additional effort from employees
Enhancing Talent Acquisition &
Retention in Hospitality
The hospitality industry is all about positive client feedback, and positive outcomes requires not just talented but proactive, efficient and humble workforce. A short skilled staff is a Big No-No in hospitality as it leads to service delay and negative customer experience mostly. Today with the online reviewing and rating platforms, even a single bad consumer experience can harm a business’s reputation. Let’s focus on some of the practical tips that can be beneficial in retaining talent in hospitality.
Building the Team
To attract and recruit top talent, hiring managers should partner with various platforms like job boards, online platforms, partnering with universities and colleges to hire potential graduates. Further to streamline this process hiring software can be used and remote interviews should be encouraged.
Professional Development Programs
Not just hiring a productive candidate is crucial but also regular training, seminars, and e-learning tools are a must to build a workforce that is familiar with the evolving demands, regulations and technologies. Also, to upskill the former staff members dedicated workshops should be conducted, this approach helps the employees to reach their potential.
Creating a Positive Work Environment
In the tiring atmosphere of hospitality, building a positive environment encourages the employees to stay focused by reducing workloads. A shift exchange option should be available for work flexibility in the busy hours. Further, the latest tools and technologies must be implemented to automate the manual tasks and reduce the burden on the team members.
Focusing on Soft Skills
Hospitality industry is where soft skills are more vital than hard skills, to deal with clients on day-to-day basis, candidates with refined soft skills are better in communication, handling visitors, taking feedback, tackling problems humbly and confidently, and provide better adaptability.
Creating a Retentive and Engaged Workforce
To boost the employees’ retentions, companies need to focus on strategies that are attractive and convenient to the team members. For example, allocate reward points according to performance, encouraging a healthy work-life balance, creating a supportive workplace culture, offering incentives and chances for professional development to elevate motivation and satisfaction.
Role of SS&Co. in Human Capital Management in Hospitality
SS&Co. plays a significant role in talent management; by partnering with SS&Co, we offer a wide range of solutions and facilities that help you to hire a capable team and secure their long-term commitment.
We help the HR and teams to make data driven decisions during the process of hirings and training. We further assist in developing customized learning paths as per the goals of your business and present software and technological solutions to robotize operations and provide accuracy. We create a motivated and super-efficient workforce, which is key to delivering exceptional customer experiences.
Meet the Expert
Sidra Salman
Managing Partner
Sidra Salman, Managing Partner at SS&Co, leading fintech innovation with trust and expertise.
