Hong Kong's Hospitality Industry Assignment Example | Topics and Well Written Essays - 1750 words

Hong Kong's Hospitality Industry - Assignment Example In a recent forum of human resource professional bodies of Hong Kong, Malaysia and Singapore, in Malaysia, participants were unanimous in their view that Job hopping had became so rampant in these countries that it had become a culture (Asia-pacific management news, 1997). The hospitality industry in Hong Kong registered strong rebound during the year 2005. Visitors from America and Europe, Africa and Middle East grew 15.1% and 25.6% respectively. Growth rate of visitors from Australia, Newzeland and South Pacific was even higher at 31.8%. Visitors from North Asia, South and South East Asia increased 19.9% and 21.4% respectively (Hong Kong Hotels Association ED review, 2004-05). Based on the data provided by the Hong Kong office of China National Tourism Administration, China outbound Travelers reached 28 million in 2004 in which 12.25 million visited Hong Kong i.e., 43.75%. Hong Kong continues to be the single largest outbound destination for Chinese travelers also. In this way the hospitality industry in Hong Kong is passing through boom period. One of the biggest challenges the hospitality industry of Hong Kong is facing today, the rapidly grow... Based on the data provided by the Hong Kong office of China National Tourism Administration, China outbound Travelers reached 28 million in 2004 in which 12.25 million visited Hong Kong i.e., 43.75%. Hong Kong continues to be the single largest outbound destination for Chinese travelers also. In this way the hospitality industry in Hong Kong is passing through boom period.One of the biggest challenges the hospitality industry of Hong Kong is facing today, the rapidly growing demand for more hotel staff and acute shortage of manpower and talent. Higher staff turnover and the difficulty in retaining staff is primarily affecting the stability of the industry and high service standards. There are paucity of studies and researches regarding employees' turnover and lack of findings in terms of employees' interests and expectations. The economy i.e., the most common reasons given for leaving is the availability of higher paying jobs. In a better economy the availability of alternative jobs plays detrimental role in turnover but this tends to be over stated. The performance of the organization, the organizational culture, the characteristic of a job, unrealistic expectations, demographics and the person himself can be the reasons for higher turnover. It is important to note that the factors, which have been listed above, can be classified as being within or beyond the control of the employing organization. In order to actively participate in reducing costs associated with turnover, organizations need to identify those factors over which they do have some control and initiate necessary changes to reduce turnover attributable to these controllable factors. Therefore, the present study is planned and