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Source HSMAI Annual Human Resources Status Report
The Hospitality Sales & Marketing Association International (HSMAI) Foundation has released its third annual State of Talent Report. This report identifies this year's hospitality industry trends impacting talent in sales, marketing, and revenue optimization.
“This year's report builds on the foundation of last year's report and captures new trends in the industry,” explains Robert A. Gilbert, CHME, CHBA, HSMAI Foundation Executive Director. “We also highlight examples of leaders who have created inclusive, dynamic and forward-thinking work environments while sharing best practices.”
9 key talent trends identified in HSMAI Foundation Special Report: The State of Hotel Sales, Marketing and Revenue Optimization Talent 2023-2024 teeth:
- Meeting the needs of a multigenerational workforce
- The rise of the gig economy and split staffing models
- Retention rate through upskilling, reskilling, and upward mobility
- Transforming employee engagement
- Leadership defines culture and organizational purpose
- Return to the office and hybrid work models
- Cross-departmental teamwork and the evolution of commercials
- The rise of artificial intelligence
- prioritize mental health
One of the trends explored in this year's report is the dynamics of the multigenerational workforce, or how different age groups bring unique strengths and perspectives to the table. According to this year's Human Resources Status Report, Staffing levels are projected to return to pre-COVID-19 levels by 2031 HSMAI predicts new employees will be slow to enter the workplace, making the talent retention strategies outlined in the study important to industry executives.
Research on the integration of AI in hospitality offers a glimpse into a future where lines are blurred. Additionally, the report explores how the rise of the gig economy, increased emphasis on upskilling, and the introduction of hybrid work models are reshaping our operations.
“Each of the nine trends represents a piece of the industry's talent puzzle,” said Lori Keel, HSMAI Foundation Chair and Chief Commercial Officer, Boca Raton Resort and Club, CHDM. “The State of Talent Report highlights positive trends in the industry while honoring the adaptability and innovation inherent in hospitality.”
The HSMAI Foundation State of Talent Report was produced with support from HSMAI Foundation's Corporate Talent Partners and authored by Dorothy Dowling, Managing Director of Horwath HTL and Special Advisor to the HSMAI Foundation Board of Directors.
The full report is available here.
