The HSMAI Foundation Special Report: The State of Hotel Sales, Marketing and Revenue Optimization Talent 2023-2024 explores the idea: “Learning by doing is the only way to build a pipeline of talent ready for unfamiliar roles. You need to develop that talent because you can't buy it.” (McCarthy, 2023).
As we move into the 21st century, the need to upskill and reskill is more critical than ever, especially in the areas of sales, marketing, distribution, revenue management, and loyalty, not only to retain valuable employees but also to position the hospitality industry as a viable career choice.
In the quest for employee retention, it's crucial to emphasize a systematic approach to identifying employee skills and fostering their growth within the company. The key is recognizing that each individual is a unique asset, full of untapped potential waiting to be discovered and cultivated.
Gone are the days when traditional learning and development methods were sufficient. The rapid pace of technological advancement, coupled with changing consumer preferences, has ushered in a new era in which old ways of learning and development cannot keep pace with modern skill needs.
“To remain competitive and retain top talent, organizations must adapt, and the answer lies in providing practical learning opportunities.” (McCarthy, 2023).
Today, both employers and employees are entering into a new type of contract: a lifestyle contract that prioritizes physical and mental health. A healthier workplace isn't just about offering gym memberships and wellness programs; it's about fostering each employee's potential through continuous learning and growth. This is where upskilling and reskilling come into play, forming the cornerstone of this progressive contract.
Every workplace revolution has created a need for constant learning. The digital age is no exception. As technology transforms every aspect of the hospitality industry, from revenue management to asset management, employees must adapt.
However, expecting employees to navigate this path alone is unrealistic. Organizations must take the initiative to systematically identify their employees' skills, train them, and actively foster their growth.
To achieve this, a multifaceted approach is essential. It begins with identifying existing skills and potential areas for growth. By conducting regular skills and performance assessments, organizations gain valuable insights into their workforce's strengths and weaknesses. This knowledge forms the basis for customized development plans. Stretched project assignments, in which employees are pushed outside their comfort zones and encouraged to tackle complex challenges, provide invaluable learning experiences that align with individual growth trajectories. Shadowing people in their roles allows firsthand exposure to the intricacies of the job, which accelerates the learning curve. Simulations, such as cyberattack scenarios, provide a safe environment for developing critical skills while promoting confidence and knowledge.
By leveraging these "live" learning opportunities, organizations not only promote skill development but also cultivate a culture of adaptability and innovation. Employees become more engaged, motivated, and invested in their careers, making them less likely to seek opportunities elsewhere.
Besides, Providing clear career paths is essential for team members to achieve their financial and personal goals. When employees see a well-defined path for growth within an organization, they are more likely to commit to its long-term success. This systematic approach to identifying and developing skills ensures that employees recognize and take advantage of growth opportunities within the business.
Upskilling and reskilling are the lifelines that will help organizations navigate the turbulent waters of modernization, ensuring they are well-prepared to respond to the demands of an ever-evolving market while fostering a culture of retention and growth.
Main conclusions of the study:
- Main conclusions of the study:
- Hands-on learning is necessary to boost the talent pipeline.
- Creating internal labor markets improves retention strategies.
- Leadership-backed employee lifestyle contracts are a new and emerging model.
- Technological advances require constant training.
- Career mapping and development plans are expected.
