Succession Planning in the Hospitality Industry
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Career Management in the Hospitality Industry: you have been hired by a think tank of high ranking industry leaders to address the issue of management retention in the hospitality industry. You have been asked to propose a specific plan that a company can use to measure its progress for keeping and developing its talents. You have been asked to identify, discuss and detail the five most critical initiatives that companies should consider in their benchmarking. You can propose these initiatives together in a comprehensive model or as individual issues.
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1. Summary of Research Study of What Hospitality Professionals are Looking For
In a study of what hospitality professionals are looking for from their jobs, Walsh and Taylor (2007) suggests that hospitality professionals are taking charge of their own careers, looking for challenging jobs that offer growth opportunities as well as competent leadership and fair compensation. In the same research, it was hypothesized that the presence of 3 job features (essentially features that sought by professionals who are engaged in protean careers) will influence attrition intent at the organisational and industry level.
Essentially, these 3 job features are: * Meaningful work that is intrinsically challenging where professionals are enabled with opportunities to learn and grow and apply new knowledge (Hall 2002) * Learning-oriented relationships with colleagues, supervisors and clients that are reciprocal so that professionals can capitalise on new knowledge and skills to change and grow (Hall 2002; Kram and Hall 1996) * Resource-exchange relationship with organisations where there is a fair and equitable exchange of valued extrinsic rewards such as salaries and benefits for work performed.
Professionals are leaving their organisations and the industry when they don’t see a clear career plan and in taking
Career Management in the Hospitality Industry: you have been hired by a think tank of high ranking industry leaders to address the issue of management retention in the hospitality industry. You have been asked to propose a specific plan that a company can use to measure its progress for keeping and developing its talents. You have been asked to identify, discuss and detail the five most critical initiatives that companies should consider in their benchmarking. You can propose these initiatives together in a comprehensive model or as individual issues.
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1. Summary of Research Study of What Hospitality Professionals are Looking For
In a study of what hospitality professionals are looking for from their jobs, Walsh and Taylor (2007) suggests that hospitality professionals are taking charge of their own careers, looking for challenging jobs that offer growth opportunities as well as competent leadership and fair compensation. In the same research, it was hypothesized that the presence of 3 job features (essentially features that sought by professionals who are engaged in protean careers) will influence attrition intent at the organisational and industry level.
Essentially, these 3 job features are: * Meaningful work that is intrinsically challenging where professionals are enabled with opportunities to learn and grow and apply new knowledge (Hall 2002) * Learning-oriented relationships with colleagues, supervisors and clients that are reciprocal so that professionals can capitalise on new knowledge and skills to change and grow (Hall 2002; Kram and Hall 1996) * Resource-exchange relationship with organisations where there is a fair and equitable exchange of valued extrinsic rewards such as salaries and benefits for work performed.
Professionals are leaving their organisations and the industry when they don’t see a clear career plan and in taking
References: K. Walsh & M. S. Taylor (2007), “Developing In-House Careers and Retaining Management Talent: What Hospitality Professionals Want from Their Jobs”, Cornell Hotel and Restaurant Administration Quarterly, Volume 48 (2): 163 D K. E. Kram & D.T. Hall (1996), “Mentoring in the Context of Diversity and Turbulence- In Managing Diversity: Human Resources Strategies for Transforming the Workplace”, ed. E.E. Kossek and S. A. Lobel, Cambridge, MA: Blackwell D T. Butler & J. Waldroop, (1999) "Job Sculpting: The Art of Retaining Your Best People." Harvard Business Review, 77 (5) [Anthologized as a chapter in "HBR on Finding and Keeping the Best People”] B P. McLagan (1996), “Great Ideas Revisited: Competency Models", Training and Development, Vol. 50, No. 1 R D. A. Ready & J.A. Conger (2007), “Make your Company a Talent Factory”, Harvard Business Review 85(6), 68-77 K D. Ciampa, (2005), “Almost Ready: How Leaders Move Up”, Harvard Business Review, Jan 46-53 T.R J. Martin & C. Schmidt, (2010), “How to Keep Your Top Talent”, Harvard Business Review, May 2010 L [ 3 ]. Miller (1989) “Strategic Human Resource Management: What it is and what it isn’t”, Personnel Management, February, pp 46-51.