Millennials will not just be the next largest demographic of hotel guests that the hospitality industry serves. They will also be the largest demographic employed in hotels.
There are a number of reasons that Millennials are hot on the radar of today’s hoteliers when it comes to marketing and general guest relation strategy.
- Millennial travel spend will reach $1.4 trillion< annually by 2020.
- Millennials travel more than other demographics (4.2 times per year for leisure, 4.7 times per year for work).
- Marriott estimates 50 percent of its guests will be Millennials by 2020.
Beyond just catering to Millennial hotel guests, hoteliers will also have to create the kind of workplace that will appeal to this demographic.
Hospitality accounts for one out of 11 jobs in the world, making it the largest employer in the world. And Millennials are already joining the hospitality workforce, not to mention the fact they will be the industry’s future leaders and decision makers.
Turnover among Millennial employees results in total costs of $30.5 billion annually.
Hilton Worldwide CEO Christopher Nassetta said that one of the industry’s greatest priorities moving forward should be embracing Millennial hotel workers and aiding to ease unemployment among the 71 million global adults under 29 years old, who account for more than half of the world’s population.
Nassetta said, “These young travelers add so much value to our business [but also face] serious and unprecedented challenges, namely the worst youth unemployment crisis in modern history.”
Creating a workplace that engages Millennials is a key consideration for hoteliers moving forward, especially as turnover among Millennial employees results in total costs of $30.5 billion annually. Here are 3 points of insight on engaging your Millennial hotel employees:
- Flexibility: Having flexible options is a top priority for Millennial employees, with 66 percent saying they would like more adjustable schedules and hours. It’s so important in fact that nearly half of Millennials would prefer flexibility to more pay.
- Innovation: In the same way that hotel technology and apps are used in guest rooms and as part of the guest experience to engage tech-savvy hotel guests, it can be a crucial tool in bridging the gap between “old” and “new” hospitality. A survey showed that 93 percent of Millennials value technology as one of the most important aspects of the workplace. Guest-facing technology has not been the only focus on innovation. Millennial hotel staff can benefit from cutting-edge enterprise hospitality software that increases productivity, automate tedious processes, and provide useful analytics to improve performance.
“We all want to do more meaningful work in less or with the same amount of time. Technology enables us to optimize how we spend our days,” said Jeff Vijungco, vice president, Global Talent at Adobe.
“Companies can have the most amazing perks but if you’re not able to produce work efficiently with the help of great people and technology, then massage rooms and roaming ‘cookie cart’ are meaningless.”
- Transparency: Open communication is necessary to integrate Millennial hotel staff. Almost 85 percent said they appreciate honest feedback and open communication policy. Currently, 23 percent of Millennial employees don’t feel they have a manager who effectively communicates. By strengthening connections between your staff of all ages, you can improve performance and retention rates across the board.
Forward-thinking hoteliers will begin to strategize around updating employee policies and the workplace environment to fully engage Millennial hotel staff. Speaking to hoteliers, Nassetta added, “We have an amazing opportunity to use our engine of opportunity to make hospitality a top career choice of the future.”
Read more about how Millennials are shaping hotels and the hospitality industry in general.
For more information on how hotel technology can benefit your staff and operations, schedule a free consultation with our industry experts.
Courtesy of 15Five.com:
