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 charge of their own careers, these professionals are engaging in a protean or self-directed careers where they shift from know-how to learn-how by reviewing and reinventing their careers as they move from job to job to develop their toolkit of skills and competencies that are applicable to numerous jobs and organisations. Such self directed careers shift the concept of job security to employability and incorporates balance from “work self” to “whole self” (Hall & Moss, 1998) Often times, the opportunity to enhance this toolkit is a primary reason why professionals are bailing out on their organisations or the industry. Therefore, the implications of these 3 features are that hospitality professionals are expecting companies not to manage their careers but rather to provide the support and opportunities for them to develop themselves in their careers. This requires the industry and organisations to elevate their approach in viewing employees by evolving their talent philosophy to one where they should view employees not as mere assets but rather as investors who have a resource- exchange relationship with the organisation. Hence, organisations must provide what they value, i.e. continuous learning through jobs that provide necessary challenge and opportunities for professionals to develop new skills and partake in decision making as well as identify career ladders and paths that are aligned with their life and embedded interests (Butler & Waldroop, 1999). Such a talent philosophy will also require organisations to relook at reward strategies in order to better motivate and retain these investors through a variety of intrinsic and extrinsic ways such as sculpted jobs, customised learning opportunities, flexibility, autonomy and control of one’s work as well as fair compensation for the work exchange. Therefore, this paper suggests 5 critical initiatives that hospitality organisations should consider in addressing the issue of management retention in the industry....
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