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William J. Pallett

In developing a well researched and focused Talent Strategy, hotels ensure they achieve a better-than-average Return on Investment for their human capital. This will also ensure hotels are better enabled to deploy a sustained competitive advantage, improve their profit rations and customer engagement levels as well as other metrics such as productivity, retention, absenteeism and workplace accident rates. In many hotels, human resource practices can often be reactive and fragmented, resulting in poor results and a diminished credibility for the human resources function. In many cases a “spray and pray” approach would best describe the methodologies employed for talent. As with any good business, hotels must develop a strategic approach to managing their human capital and therefore the development and deployment of a Talent Strategy is essential for sustained business success. Using a strategic planning mindset and methodology, any hotel can develop a Talent Strategy which ensures their human capital metrics will improve, and support the hotel’s business plan. A well researched and targeted Talent Strategy will ensure all phases of the Talent Life Cycle will be fully aligned and support the enterprise’s business plan.