Diamonds in the Rough: Mining for Talent and Filling the Revenue Management Talent Pipeline

Transcription

1 Diamonds in the Rough: Mining for Talent and Filling the Revenue Management Talent Pipeline Doris Inkman Regional Director of Revenue, FRHI Asia Pacific Chhavi Malhotra - Regional Director of Revenue Management, Asia & India, Hilton Worldwide Malcolm Leong - Head, Revenue Management & Distribution, Far East Hospitality Management Professor David L. Jones Ph.D. - Professor and Programme Director, Hospitality Business, Singapore Institute of Technology

2 Gen Y who are they? How do they learn? Talent acquisition have we addressed the right questions? Mining for talent and filling the revenue management talent pipeline Talent retention

3 Building a professional toolkit: Communicating with Gen Y David L Jones, PhD Professor and Programme Director Hospitality Business Singapore Institute of Technology

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5 Secret Formula = 18

6 Secret Formula = 18 Grandpa!!

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8 Teaching the Y Generation Building the Toolkit

9 Technology

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12 Classroom

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14 Textbooks/Reading

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16 Communication

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19 Reality versus Expectation Generation Gap

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23 Talent Acquisition Malcolm Leong - Head, Revenue Management & Distribution, Far East Hospitality Management

24 Context Has the context for revenue management changed?

25 Is Revenue Management a Baby Boomer?

26 Has the function evolved since?

27 #RevPAR #TRevPAR #Reporting Structure #Revenue Manager #GOPPAR #Revenue Meetings #Revenue Systems

28 Context Is revenue management a key strategic function in your company?

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30 What Is the?

31 What are the Gaps we need to address? The vacancy gap The strategic gap The talent gap

32 Understanding the Strategic Gap oare we correctly structured? owho shall drive the talent recruitment?

33 The Process Gap odo we have a talent identification process for internal staff? odo we have a talent identification process for the industry?

34 Diamonds in the Rough: Mining for Talent and Filling the Revenue Management Talent Pipeline Organizational Shift Chhavi Malhotra Regional Director Revenue Management Asia and India, Hilton Worldwide

35 Increasing Complexity 3

36 Expansion 3

37 Shrinking Talent Pool 3

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39 Fishing in the Right Pond?

40 Talent Management Hire, Engage, and Develop Right Fit Talent

41 Organizational Structure

42 Career Path Investing in Talent for the Long Run

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44 Talent Retention Doris Inkman - Regional Director, Revenue Management, Asia Pacific, FRHI Hotels & Resorts

45 4 Agenda The Retention Agenda Introduction / Overview Corporate Culture Getting the right people in pivotal roles Create a talent mindset in your organization Talent management Key Takeaways

46 4 Millennial at work

47 True Story INVESTMENT Interview Process HR / DOSM / GM / RDRM 4 p x 2 h x 6 = 48 hrs Flights 1 p x 5 hrs x 6 = 30 hrs Orientation 6 x 5 days x 8 hours = 240 Weekly calls 6 x 12 weeks x 1 hour = 72 hours Total = 390 hours Overall Impact x 2

48 Total hotel profit optimization STRATEGIC FRAMEWORK ROOMS RESTAURANT FUNCTION SPACE RevPRO Culture SPA Spa PEOPLE, PROCESS, CULTURE TALENT DEVELOPMENT PROGRAMS CENTRALISED RM SERVICES REVPRO HOTELS REGIONAL SUPPORT STRUCTURE INSIGHTS & VISUALISATION by PERSONA

49 Retention? Do Talented People Need Organization Do Organizations Need Talented People

50 People - Key Role & Responsibilities

51 Revenue Management Today Core Competencies & Skill Levels Each day a hotel makes hundreds if not thousands of decisions to determine what business to accept or reject RM Analyst Director RM Executive Director Area RM

52 5 Culture of total hotel revenue management CULTURE EATS STRATEGY FOR LUNCH Total Revenue Environment Strategic in Vision, Tactical in Content Integrated Approach Ideas, Prioritisation, Execution and ROI Revenue Growth Ideas are invited Strong Focus on Integrated Action Targets winning market share! Consistent opportunity scanning Part of the bigger picture

53 5 Talent & education programs LDP : Leadership Development Program RMA : Revenue Management for beginners RMI : Revenue Management Internship How to be a Mentor ecornell : Revenue Management courses Technical Training courses

54 SPA REVENUE MANAGEMENT 54

55 5 How to manage collective creativity Why is it that Pixar and Google are able to innovate time and again? It's because they've mastered the capabilities required for that. They know how to do collaborative problem solving. They know how to do discovery-driven learning. They know how to do integrated decision making.

56 Retention Recognize Ways of Working Part of bigger picture Collaborative learning Work Place environment Provide Structure. Set clear objectives. Provide clear Career Path with Opportunities to progress Provide leadership and guidance. Provide feedback often. Accustomed to frequent feedback from academic environment Encourage / Empower Take advantage of Millenniums comfort level in teams Millenniums Need Challenge - where they are learning and constantly challenged Make Training a priority. Online, Special projects, Task Forces Rewards (money isn t everything) Expect them to go. The question is: within your organization or externally

57 Thank You