The hospitality industry is at a critical crossroads: how to attract and retain talent in an environment dominated by constant change and high competition? A declining birth rate has led to an inverted population pyramid. These demographic challenges, added to experiences like pandemics, wars and political tensions, have shaped a generation with different characteristics and expectations.
The values of this new generation will be decisive in their choice of job. Firms are not expected to be the firms that choose the workers, rather the workers themselves are expected to choose the firms. These decisions will depend on how well the company fits into your lifestyle. Hence, sustainability emerges as an essential value.
Hotels and by extension the entire hospitality industry must recognize this trend and invest in sustainable practices. Caring for the planet is not only a moral responsibility, but also a business strategy.
Expectations of Millennials and Generation Z
By analyzing Millennials and Generation Z, we can predict that the next generation will have clear expectations about their work role. Those studying specialized fields expect to occupy positions commensurate with their training with wages that reflect their lifestyles, without unnecessary waits.
This panorama presents challenges for educational institutions, which must offer specialized programs. Collaboration between the education sector and the hospitality sector will be more important than ever to ensure appropriate and specialized training.
Technological immersion of new talent
A unique characteristic of this generation is its immersion in technology. Tools and concepts like social networks, virtual reality, blockchain, web 3.0 and artificial intelligence will be part of your daily life. Companies must recognize this reality and commit to sustainable innovation. It will not only incorporate technology but will also combine the essence of hospitality with technological advancements. Hotels, while retaining their primary function, must adapt to incorporate these tools into their day-to-day operations.
The future of the hotel industry is seen technologically. For example, the demand for API developers has already increased significantly. Emerging technologies such as Web 3.0, NFTs and blockchain will not only be passing trends but will set the tone for years to come.
Finally, the hospitality industry needs to rethink its strategies to attract talent from this new world. One potential solution is hybrid training that combines traditional hospitality skills with technical skills. The tourism industry is a global giant and to stay ahead, it is necessary to combine technology and talent in appropriate proportion.
Images provided by: ThisisEngineering RAEng en Unsplash