For too long, the vast majority of humanity has been left out of the business equation, says the Dean of EHL Hospitality Business School, Dr Achim Schmitt. Now educators need to play their part in driving a new, more human-centric approach.
The recent ruling by a Texas federal judge to vacate the Department of Labor’s (DOL) overtime rule sent shockwaves through the hospitality industry. The proposed salary threshold increase would have expanded overtime eligibility to approximately 3.6 million lower-paid salaried workers across industries, many of whom are employed in hospitality. While this decision provides temporary relief, it also opens the door for deeper introspection and strategic action.
Welcome to the regular Q&A feature where we shine the spotlight on our EHL research faculty and their current work. With a view to going behind the scenes to better understand the fascinating, impactful world of research, the EHL Institutional Visibility team regularly catch up with an EHL researcher whose work is making a difference in both the classroom and industry.
Welcome to the regular Q&A feature where we shine the spotlight on our EHL research faculty and their current work. With a view to going behind the scenes to better understand the fascinating, impactful world of research, the EHL Institutional Visibility team regularly catch up with an EHL researcher whose work is making a difference in both the classroom and industry.
Prior to Covid 19, the hospitality industry’s reputation struggled in terms of providing career opportunities and growth. Covid and post-COVID exacerbated this situation, doing no favors for the lodging industry.
How many meetings have you had this week, month, year? If you take a minute to count, you may be astounded at the sheer volume of hours you spend in meetings.
The evidence is clear: the hospitality industry is a key driver of the United States' economy. According to a report by the American Hotel & Lodging Association, the hospitality industry contributes nearly $600 billion to the U.S. Gross Domestic Product, accounts for 1 in 25 U.S. jobs, and is responsible for approximately $97 billion in annual wages and salary income.
The last time we did our Gaming CEO pay study it was pre-pandemic, a landscape very different from the one we know today. The pandemic caused widespread uncertainty and disruption across the globe, with the gaming and entertainment industries being particularly hard hit. This year’s figures, however, reveal a broader trend of recovery and adaptation within the industry, as well as evolving dynamics in executive compensation in the post-pandemic world. Operators are fewer but more global. Much of the casino real estate is owned by REITs and technology is driving innovation and new platforms for customers to access.
Hospitality is facing a host of issues across the world, from labor shortages and burnout to outdated training programs and shifting customer needs. In the United States and the United Kingdom specifically, frontline workers and managers are struggling with these challenges, which threaten their well-being. I’ve personally had a front row seat to these challenges over the years as the CEO of a company deeply seated in the frontline training industry.
The hospitality industry is a dynamic sector characterized by fluctuating demands and a diverse customer base.
AI can streamline the hiring process, but concerns linger. For example, AI could perpetuate gender or racial biases in the hiring process, just like most human HR managers could do. Meanwhile, to increase the chances of being picked by AI, job candidates must prepare resumes and job interviews tailored to AI’s “preference.”
In today's competitive job market, where the war for talent has become more intense than ever, that’s the question that every business should be asking itself if it wants to achieve success. The answer, however, isn’t always straightforward. With companies currently facing significant challenges to hiring and retaining talented individuals, it’s essential they adopt innovative strategies to enhance their employer brand, stand out from the crowd and appeal to talented professionals.
Last week, we discussed how more companies used AI to screen resumes and analyze job candidates’ performance in the initial interviews. We called for companies’ attention to the potential AI biases in hiring. This week, we will visit what job candidates can do to help AI pick us and recommend us for hiring.
Microcredentials are emerging as a game-changer in higher and continuing education. These bite-sized qualifications are reshaping how learners acquire skills and knowledge, offering a flexible and targeted approach to upskilling in an ever-evolving job market.
Using computer programs to screen job candidates’ resumes is not a new HR practice among big corporates. AI accelerates the automation process for all companies in the selection process. More companies are using AI to evaluate job candidates’ performance in their initial interviews, such as word choice and cognitive abilities, in addition to screening their resumes.
Education has continually evolved to meet the needs of an ever-changing world, but the past few years have been a particularly steep learning curve for educational institutions. The Covid-19 pandemic and the rapid rise of new technologies such as AI have changed the way we live, work, and study.
Whether guests are at hotel for a getaway, visiting family, or on a business trip, they rely on it to be a trustworthy and welcoming second home. The employees, from hotel managers to waitstaff, are the face of the company, representing the values of the brand. In an industry driven by customer satisfaction and personal interaction, hiring the right people is crucial.
The hospitality industry thrives on delivering exceptional customer experiences, and hotel employee training plays a pivotal role in achieving this goal. Well-trained staff not only provide better service but also contribute to increased customer satisfaction and loyalty.
Labor shortages in the hospitality industry have evolved from a temporary challenge to the new normal. Strikes, absenteeism, and staffing gaps are pushing hotel operations to their limits, and the pressure to maintain service levels without burning out employees is intensifying. Hotel owners need quick, effective strategies to keep operations running smoothly while protecting their workforce.
With the pandemic largely in the rearview mirror, the last twelve months have been about interest rates, less transactions, and wild presidential election cycles worldwide. The hotel industry will be impacted in significant ways as these issues unfold. On the other hand, operational fundamentals have been strong, contributing to CEO pay marching upward.