A discussion regarding succession management and planning.
Written in 2006; 1,330 words; 9 sources; MLA; $ 44.95
Paper Summary:
This paper reviews succession management and planning, discussing how it is no longer just for the upper echelons of the hospitality industry. The paper further discusses how stressing every employee's personal growth and learning is essential in order to create a flexible organization.
From the Paper:
"However, in many organizations, turnover, such as with the wait staff within a restaurant or at a resort, is still accepted as part of natural flux of the industry, and little attempt is made by managers to retain key personnel at every level of the organization. However, succession planning suggests that "the best systems are developmentally oriented, rather than simply replacement oriented. The system becomes a proactive vehicle for managers and executives to reflect on the progress of their talent and the opportunities they require for genuine development." (Fulmer 2006) Education and succession planning go hand-in-hand. Even if the exact key aspects of growth areas within the industry are murky, well-trained staff loyal to the organization's mission statement and good customer service are better able to fill the gaps.In fact, according to a 2003 report by the hospitality industry trade journal, Nation's Restaurant News, "The Council of Hotel and Restaurant Trainers recently polled 130 of its members to find out what, if any, improvement, the industry had made in retention since Industry of Choice, a landmark employee satisfaction study, was released in the late 1990s. That [original] study found the annual average turnover rate for managers was 50 percent, and the annual turnover rate for hourly workers was between 100 percent and 125 percent. "
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