It’s 2016 and a new generation of technology-savvy graduates are joining and rapidly changing the hospitality industry. CB Insights, a venture capital and investment database, has recently listed more than 62 new startups in the industry—highlighting the shift from traditional hotel commerce to a new world of Airbnbs and digital concierge services. In an industry where turnover rates keep increasing, moving from 66.7 percent in 2014 to a staggering 72.1 percent in 2015, according to a Bureau of Labor Statistics report, those in human resources positions are re-evaluating their hiring practices.
Hospitality begins and ends with people. When dealing with employees, employers should have a mindset that understands the people their hotels serve, provides a welcoming environment, and recognizes that what people want changes with time. “The best performing organizations always hire for tomorrow and not just today,” says Georgianne Fsadni, managing director at Aethos Consulting Group.
When hiring an employee, Fsadni, who has more than 30 years of industry experience, believes it is better economically and strategically for employers to not only focus on what the candidate can currently bring to the table, but also what they have to offer in the long run. Learning the candidate’s goals and how she can grow the company could help avoid expensive turnover costs, which can be as high as 50 to 60 percent of an employee’s annual salary, according to the Society for Human Resource Management. And, while knowing the strengths and weaknesses of the bench, technical requirements of the role, and its success measures are important, Fsadni believes that understanding the culture of the organization and what type of employee would best fit the company will lead to finding the most effective employee for the job.
Innovation, creativity, and the ability to integrate well with a company’s culture are essential ingredients to the long-term employee recipe. Advice on how to make sure the company’s employee soufflé rises to its expectations? “Put your money where your mouth is,” Fsadni says. “Invest both in the tools necessary to assess for talent and then properly resource that talent.”
