By 2028 it is forecasted that the hospitality industry will offer more than 400million jobs worldwide. As a sector that already accounts for one in ten jobs on the planet, the importance of career development has never been more critical. Hospitality professionals, and their employers, need to reconsider their approach to talent development to help them take advantage of opportunities within one of the fastest growing industries.
As the hospitality grows this means an increasing need for supporting skills in areas such as finance, human resources, marketing, leadership, owner management, corporate governance, entrepreneurship, and innovation and technology, and different approaches to learning on the job.
The world is better connected than ever, opening travel and leisure opportunities that were unthinkable a generation or two ago. In addition, travel and tourism is increasingly seen as a winning formula for developing countries, as well as governments seeking to diversify economies away from dependence on natural resources.
As the industry grows, our need to fill roles increases also, however there should be pressure for leaders to offer development within their business. Expanding in house keeps recruitment costs down but also ensure there is a strong sense loyalty within your employees. According to a survey commissioned by Bridge, 86% of millennials said that providing career training and development would maintain their loyalty.
Allowing employees to expand on their portfolio is beneficial for all, by offering skills such as leadership, change management and relationship-building courses, means that your staff are greatly trained and know they have the opportunity of progressions. Adopting a bespoke, portfolio approach to talent development means companies are not forced to over-invest in particular individuals. It also avoids having to combine useful learning with covering repeated – or unnecessary – ground just because it comes with the package.
There’s a big obligation on the individual employee to want to achieve within their role, however organisations need to put somebody in charge of those journeys, to work with the employees to priorities and deliver on their training needs.