Hospitality Industry for Marina Bay Sands- myassignmenthelp.com

Question: Discuss about theHospitality Industry for Marina Bay Sands. Answer: Introduction Despite Singapore having a small size, the country prides itself in a pool of wealth making it a wealthy nation characterized by an open economy. According to the World Bank, it has been ranked as the best country for starting and running a business successively. The rise of Singapore was mainly attributed to exports. The hospitality industry is one of the largest as compared to other industries and has more than 200 million employees employed globally. It has been realized that the number of talents is still growing as demand increases in such an industry. One of the main key drivers in the Singapore economy is the hospitality industry which has seen the countrys reputation and fame rise. Singapore continuously offers lucrative offers regarding a destination that has a lifestyle. Singapore boasts of an integrated resort that is a world resort and a Marina Bay Sands. Other developments that are still ongoing are the orchard road, and a shopping town ranked as one of its own in Asia. With such prospects, it becomes crucial for Singapore to step up its efforts in service delivery by providing excellent service to ensure customer satisfaction. There is the need for professionals and talents in the hospitality industry to increase the pool of skills that can assume management positions as well as recruiting teams that are well trained and qualified to fill more jobs that are created as a result of the growth of the industry. The hospitality industry aims to see growth and more prospects future. Due to the expansion and growth of the business, it is the role of the human resource management to provide more workforce a dictated by business needs across all sectors. Also, the human resource ensures that there is maximization for each team.In Asia for instance, skills and techniques formed an important part in analyzing peoples performance, their engagement capacities or even getting apprenticed in various training through development programs that were meant to measure productivity at workplace. Human resources are tasked with the responsibility of ensuring the right staff is in place in the advent of a booming industry. The high demand for increasing the number of staff is a challenge for the hospitality industry at a time when the pool of labor is shrinking.To solve such a challenge, it would be prudent to identify the possible causes of such a problem, and it is, therefore, the place for the industry to work in close cooperation with the labor unions and form strategic alliances. Such a move will ensure that more time is created paving the way for resource mobilization such as money needed in developing the recruitment project. The politicians, on the other hand, need to be educated on the hospitality industry need to impact on economic and immigration policies needed in the hospitality industry. Challenges to the hospitality industry Low turnover The hospitality industry globally faces some many threats not only in Singapore but also globally such as low turnover and a shortage of skills in the workforce. For instance, in the hospitality industry, it is expected that all organizations face the same hurdle of inadequate talent to assume management and leadership roles to ensure operations and teams are lead effectively (P Spencer, 2011). The intense and aggressive competition for quality graduates among various industries has led to high demand and shortage for employees leaving the hospitality industry with inadequate talents (Chalkiti Sigala, 2010). The hospitality industry perceives the fresh graduates as inexperienced and without the necessary skills as unfavorable for employment losing them to other sectors such as outsourcing, entrepreneur and human resource (Qu Tse, 1996). Generation diversification The intensified awareness on multi-generation workforce and the implications of having variances in workplace expectations and values among workers are raising eyebrows among relevant stakeholders. There are huge disparities among the young generation regarding disparities in the so-called generation Y (La Lopa, 2010).As opposed to the older cohorts, the young generation values more self-actualization, career progression leading to high expectations.Such groups are dynamic regarding changing jobs frequently in different industries and institutions to achieve their desired goals and objectives in life (Hyun Jeong Kim, Tavitiyaman, Woo Gon Kim, 2009). Lack of appropriate infrastructure The hospitality industry also lacks sophisticated mechanisms necessary for analyzing employee engagement. It is through having long-term projections that human resource management can predict and forecast for areas that may be short of talent and thus adopt training programs in management levels needed in anticipating future demands as a result of growth. Staff needs are overstretched An industry such as hospitality is an integration of many components and departments and identifying which areas are in short of talent is another hurdle. For instance, there is the front office, food, and beverages among others. It has been discovered that the front office and food and beverage are the ones that mainly suffer from a shortage of staff. According to recent research, it was discovered that the biggest challenge facing the hospitality industry is the shortage of human resources. According to Sam Sake, MENA travel organizers, the average ration of staff needs is estimated at five staff per room. However, as of 2010, the ratio went higher putting staff needs for more than 50000, and in 2016 the ratio tripled to 150,000 number of staff needed. However, in luxury hotels, the ratio was favorable putting staff needs at seven to one. Also, there is the problem of retaining the workforce; it is estimated that only 20 percent of the staff will prefer staying their employer and i ndustry management forecasts that poaching may dominate the issue of recruiting staff (Moncarz, Zhao, Kay, 2009). Long working hours The long working hours in the hotel industry is also another issue when it comes to recruiting staff in such an industry. The hotel industry commands only a small percentage for instance out of 14,000 graduating from polytechnics only 3000 choose to join the hospitality industry representing 1.9% which is relatively a small percentage compared to what other industries absorb. As of todays graduates they would prefer being off duty I the weekends and also during the public holidays. However, looking at the hospitality industry, there is no room for such accommodations as there are no frameworks that can schedule fix offs during the weekends. Most hotels operate twenty-four hours, hoteliers, for example, are required to operate for a minimum of 198 hours monthly. Hoteliers are also expected to work overtime more so during the peak season. The overtime may be a two-hour session or may overlap the next day depending on the situation. It is a requirement that the hoteliers are given two d ays off duty, the weekends are offered on a rotation basis. It is due to the demanding nature of the hospitality industry that makes most individuals prefer working in other industries. Seasonality of the industry In Singapore, July, August, and October are the slow period for the hospitality industry.It is evident that most businesses in the hospitality industry such as tourism and hotel are seasonal.As a result of seasonal nature of such industries, it becomes a major challenge of maintaining the employees during low seasons forcing the businesses to be closed or lay off some workers due to lack of finances to run such businesses in low seasons. As a consequence, most individuals prefer working elsewhere to ensure that they have a job security in the long-run. The businesses in the hospitality industry are in most cases at a loss regarding losing experienced staff that had drained company resources regarding training.In acquiring new staff in anticipation of peak period has the effect of straining the company finances in training the new staff so as they may acquire the required set of skills thus increasing the costs of operation for such ventures. The hospitality industry in most cases is also affected by political issues in some regions making it unfavorable for some of the talented workers to move in such countries. For instance, in some countries, there are strict entries for foreign workers thus restricting entry of talents that would help in developing the industry as they possess a unique set of skills from their countries.The shortage of human resources for the hospitality industry continues to increase due to such inflexibilities in labor laws that affect the overall performance of both the foreign and nationals working in such sectors. Strategies for addressing the challenges The issue of salary and remuneration is one factor that can motivate people to enter the hospitality industry (Jeetesh K, 2015).The players in such an industry should offer lucrative and competitive salaries for employees to attract and lure top talents that are poached by other industries. Also, the issue of benefits for the employees and their families at the workplace should be many such as health and pension schemes are one way of maintaining employees in the industry (Mosley, 2007). The government should work closely with the human resource management when drafting some policies that favor the nationals and the foreigners working in the hospitality industry. For instance, in Singapore, it was noted that most of the workers working in the hospitality industry came from foreign countries and very few nationals worked in such an industry (Pizam Shani, 2009). The labor laws and policies should offer more chances to the nationals and not the other way round no wonder the country is in short supply of labor. The practical frameworks in a hospitality industry also ought to be adjusted to incorporate the freedom and flexibility for those who wish to work in such an industry. For instance, the working hours and the weekend where many people need time with their families should be balanced so that employees can work some weekends and not all of them (Yazinski, 2009). Motivation should also be offered especially during peak when people work tirelessly, and this could be offered regarding cash and work bonuses. Conclusion and recommendations As evidenced in the above discussion, it is evident that indeed there is the shortage of talent in the hospitality industry. Lack of the necessary talent may cripple the industry shortly, and thus the necessary mechanisms are needed to ensure continuity of the sector. It is important for the firms in such an industry to provide competitive salaries and packages that will attract the best talent which will increase the labor supply solving the problem of shortage of the needed workforce. It is also critical for the legislature to work with labor unions and other relevant stakeholders in ensuring that the policies in place favor the nationals and the foreign workers in the hospitality industry. As discussed, it has been pointed some of the policies are the causes of the shortage of human resources in the hospitality industry, and therefore it is necessary to review the already existing laws and policies to ensure a favorable working environment (Christensen Hughes Rog, 2008). Works Cited Bai, L. ., Bai, B. (2011). special issue on development and progress in contemporary hospitality management research. International Journal of Contemporary Hospitality management. Chalkiti, Sigala. (2010). staff turnover in the Greek tourism industry. International journal of contemporary hospitality Management, 335-359. Christensen Hughes, Rog, E. (2008). Talent management. International Journal of Contemporary Hospitality Management, 743-757. Hyun Jeong Kim, Tavitiyaman, P., Woo Gon Kim. (2009). The effect of Management commitment to service on employee service behaviors:the Meditating Role of Job Satisfaction. journal of hospitality Tourism Research. Jeetesh K, S. (2015). The Effects of Job Satisfaction towards Employee Turnover in the Hotel Industry: A Case Study of Hotels in Kuala Lumpur City Center. Journal of Tourism and Hospitality. La Lopa, J. (2010). Guest Editorial:Food for Thought on Management Turnover in the Hospitality Industry. journal of hospitality Tourism Education, 11-13. Moncarz, E., Zhao, J., Kay, C. (2009). An exploratory study of US lodging properties' organizational practices on employee turnover and retention. International journal of contemporary Hospitality Management, 437-458. Mosley, R. (2007). Customer experience, organisational culture and the employer brand. Journal of Brand Management, 123-134. P, C., Spencer, A. (2011). Hospitality quality:new directions and new challenges. International journal of contemporary hospitality Management, 463-478. Pizam , A., Shani , A. (2009). The Nature of the Hospitality Industry: Present and Future Managers' Perspectives. Anatolia, 134-150. Qu, H., Tse, S. (1996). An analysis of employees' expectations satisfaction levels and turnover in the Hong Kong Industry. Tourism Recreation Research, 15-23. Yazinski, S. (2009). Strategies for Retaining Employees and Minimizing Turnover. Retrieved September 30, 2017, from Hr.blr.com: Yazinski, S. (2009). Strategies for Retaining Employees and https://hr.blr.com/whitepapers/Staffing-Training/Employee-Turnover/Strategies-for-Retaining-Employees-and-Minimizing-