MANAGEMENT

Assignment-HPM_301-Assesment 2

ABSTRACT

In this research study, I have tried to explore the contemporary issues of Singapore's hospitality industry. The main focus of the research is on employee turnover rate in hospitality industry of Singapore. The study analyzes the concept of employee turnover rate and its impact on the hospitality industry. The study includes the advantages and disadvantages of the employee turnover rate in hospitality industry of Singapore. The study also includes the impact of hospitality on political, economical and socio-cultural factors due to prevalence of employee turnover. Moreover, possible solutions of the issues along with limitation and further scope of the study is also included in the study.

Contemporary Issues in Hospitality Management

Introduction

Singapore is one of the most visited cities in the world. The major reason has been the high value of Singapore in the entire Far East region because of its some amazing destinations. Tourism in Singapore is a major industry as well as major contributor to the Singaporean economy attracting around 13,171,303 tourists in 2011, which is more than twice Singapore's total population. Employee turnover rate is one of the chief issues in the world's hospitality industry.

Researches from worldwide have recommended that highest employee turnover is found in the industry of hospitality. Studies have revealed so as to the normal turnover level amongst non managerial employees of hotel in the U.S. is around fifty percent and around twenty-five percent for managerial staff. As per the research conducted by American Hotel and Motel Association, estimation of standard yearly employee turnover range from 60 to 300 percent (Gautam, 2005). Singapore is also facing the issue of high labor turnover in its hospitality industry. The aim and purpose of this study is to study the factors distressing employee turnover rate for the hospitality industry of Singapore.

Contest

The issue of high labor turnover rate is seriously impacting the hospitality industry of Singapore and it is expected to increase in the coming years respectively. In the year 2005, the expenses from labor stayed the major solitary expenditure item for hospitality managers, accounting for about 44.6 percent of entire operating costs. owing to the extent of the expense, labor costs and concerns have all the time devoted a considerable sum of the instance and efforts of hospitality administrators. Presently, changes to immigration laws, with the news of union contact negotiations, and planned legislation for increasing the minimal wage has put the managers on edge.

The labor expenditure in terms of losing and replacing of employees in hospitality industry is the principal expenditure in all groups of hospitality industry in Singapore. Though, with the start of select-service properties, the developers of hospitality cannot shun the human being as a constituent of hospitality operations. Whilst administering of labor turnover rate and connected expense is important, the hospitality management professionals are conscious that employees are also an essential fraction of the accommodation experience. The dealings between hospitality guests and human resources has a spectacular effect on the customer's experience and the accomplishment of the business ...