Using Talent Management to Drive Competitive Advantage
By Adam Cobb Regional Manager, Halogen Software | November 06, 2011
Hotel executives are looking for new ways to create a competitive advantage in a tight economy and talent management offers a relatively untapped opportunity to maximize operations and focus on delivering outstanding customer service. While other areas of hotel businesses have already been optimized, human resources continues to be challenge.
Human resource management is the most troubling issue of concern to managers and executives in the lodging industry worldwide. A 2008 survey of hotel managers conducted by the Cornell Centre for Hospitality Research identified a common set of shared problems that impede the ability of industry leaders to manage effectively, with human resources issues being at the forefront. Over 60 percent of respondents from six different regions of the world in both general manager and executive positions reported that the human resource issues of attraction, retention, training, and morale were key areas of concern.
Why Goal Management?
As a practice, talent management enables organizations to develop, manage and retain workers and includes functions such as recruiting, learning/training, compensation, employee performance management and succession planning. Talent management is based on the premise that employees are any organization's most valuable asset. In the hotel industry where customer service is the foundation of success, effective talent management is of particular importance.
A talent management program that includes effective goal management enables organizations to create a true competitive advantage. It aligns the workforce so that employees understand how their goals connect to and support overall organizational goals, enabling the entire team to pull in the same direction. However, goal management is more than simply assigning goals to employees and reviewing performance on an annual or semi-annual basis. It's about getting every employee to use and develop their talent, skills and experience in a way that drives business results for the organization.
To ensure your hotel creates and implements a goal management strategy with impact, here are four best practices to follow: