The demand for talent to accommodate growth, plus the focus on diversity and inclusion, is driving hospitality companies to reach outside of the industry to identify the best executives for marketing, revenue management, operations, digital strategy, analytics, technology, C-Suite leadership and board level roles.
A key challenge is accurately assessing such individuals in terms of the requisite background (experience, aptitude, cognitive skills, etc.) and cultural fit.
Based on birth rate data, a labor shortage is expected and is not limited to the U.S. This will result in greater competition for talent, the need for increased efforts at retention to combat incessant turnover, and thoughtful communication and collaboration between what will undoubtedly be a multi-generational workforce. Companies need to be more diligent in assessing prospective employees as to skill set and cultural fit. Savvy organizations will make attraction, development and retention a priority.
Finally, while the full impact of AI and robotics is not imminent, it is a good time to be planful as to how such technology will impact the labor force. For example, what human roles will be re-deployed to better serve guests? What retraining will be required? What jobs will likely be lost? How will labor unions morph to accommodate this inevitable reality?