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. -------------------------------------------------

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...
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