In the excellent article published by Travel Weekly today, an exert of which is shown below, Sue Ledgard from Grant Thornton’s People Advisory practice looks at people-based challenges facing the travel industry in the year ahead. It's a very comprehensive assessment of all the elements at play, and how best to counter the challenges that exist on the talent acquisition and retention landscape.
From our own perspective at Gail Kenny Executive Recruitment, "employer brand" has been moving up the agenda when it comes to attracting the best candidates, and this is not a quick fix. It covers so many aspects of a business, and it's not something that HR or People departments alone can solve.
However the cost of living crisis has brought salary right to the top of the agenda again. Candidates who have previously been willing to move for "soft benefits" are holding firm on salary improvements as a key decision making criteria. Companies will have to work hard across a range of issues in order to bring in high calibre talent, especially when its for roles in tech and digital where the competition goes beyond just the travel and hospitality industry.
People move for money but stay for love Culture trumps strategy, as the adage goes – and culture is what makes people loyal to a company. In an ‘Each Person’ employee reward scheme survey, 48% of respondents said that a simple thank you would make them feel appreciated. People also want praise quickly when they’ve worked hard. Bonuses are the best way to remunerate people; the industry can’t rely on giving big salary increases while working in a volatile market.