On May 4, 2007, I had the opportunity to present at the “Demographic Change” session at the Quebec Tourism Intelligence Network in Quebec City.
I have attached my presentation and notes.
What is clear, the tourism sector is competing for talent in an increasingly tight human resources market. The sector has to get creative in what it has to offer prospective workers. To retain staff, affordable housing is one of the avenues that needs to be developed. Such housing will have a two-fold benefit – have staff close to their place of employment, and also, if done well, will encourage staff loyalty.
One ready pool of labour that the tourism industry is ideally positioned to attract “retiring” baby boomers. These boomers are really not ready to retire, and they are ready to follow their passions. And amongst most, one of their renewed passions is travel. In Career 3.0, this cohort will likely be willing to work in the service industry – they are business savvy but want to work on more relaxed terms – as long as there are fringe benefits. Hotel chains can offer discounts at affiliates in far flung countries and incentive programs can be developed to subsidize travel (barring this whole new notion of buying carbon offset credits).
While this is not going to happen tomorrow, for the astute business/corporation, understanding this trend will serve them well for managing revenue yield, securing a talented work force and ultimately improving their financial sustainability.