Boom triggers talent squeeze
The industry has so far been driven by strong regional economies, led by China. Tourist arrivals continue to rise and consolidate on last year's solid recovery. Business confidence appears to remain high, with human resource policies remaining focused on recruitment, with more offices and hotel openings fuelling this surge.
Lingering doubts sparked by the eurozone debt crisis have caused concerns, but Asian economies have been largely cushioned. Projects are continuing, especially in Greater China and in Macau.
The biggest challenge for hotels is manpower - finding ways to attract and retain talent and maintain projected growth plans. The workforce is expected to shrink.
China is forecast to experience a contraction in the next three to four years, but growth in other parts of the region can trigger a talent squeeze. Hotels are struggling to find entry-level staff in service, revenue management, sales and marketing, and F&B.
Companies should realise staff today want a balanced work environment, job satisfaction, career development and competitive compensation. Human resources policies must be designed to attract and retain talented personnel, offering career and personal growth through training and education.
Andrew Chan, CEO, TMS Asia-Pacific