HSMAI Foundation Unveils 2024 Talent Trends Transforming Hospitality
The Hospitality Sales & Marketing Association International (HSMAI) Foundation has released its eagerly anticipated 2024 State of Talent Report, spotlighting the latest trends significantly influencing the hospitality industry's talent landscape. Executive Director Robert A. Gilbert, CHME, CHBA, shared that this year’s findings build upon previous insights, focusing on dynamic and inclusive work environments and the sharing of best practices among industry leaders.
Key trends for 2024 include the adaptation to a multigenerational workforce, the embrace of the gig economy and fractional staffing models, and the critical importance of retention through upskilling, reskilling, and upward mobility. Furthermore, the report emphasizes the transformation of employee engagement, leadership’s role in defining culture and organizational purpose, the integration of return-to-office and hybrid work models, and the evolution of cross-functional teamwork.
A novel insight is the industry's slow but steady return to pre-COVID staffing levels by 2031, highlighting a gradual influx of new talent into the market. This makes the strategies for talent retention, as outlined in the report, crucial for industry leaders. The report also shines a light on the rise of artificial intelligence and the prioritization of emotional wellness as emerging trends.
Lori Kiel, CHDM, HSMAI Foundation Chair and Chief Commercial Officer at The Boca Raton Resort and Club, emphasized that these trends represent critical components of the industry's talent puzzle. The report not only highlights positive trends but also celebrates the adaptability and innovation inherent in the hospitality sector.
Authored by Dorothy Dowling, Managing Director at Horwath HTL, with support from HSMAI Foundation’s corporate talent partners, this report serves as an indispensable guide for industry executives. It outlines strategies to leverage these trends for growth, ensuring a resilient and future-ready hospitality workforce.