Senior Leadership Succession Planning Within the Restaurant Industry
Some would excuse the malaise (in the casual dining industry) because of the soft economy, demographic changes, and even the weather. However, that doesn’t explain the remarkably few success stories who must compete for similar customers and are at the mercy of identical forces as the failing brands. In my view, the casual-dining segment is mired in a management carousel that, for over a decade, has bounced senior management from one company to the next on the basis of little more than their title.
Read moreThe 2017 HR in Hospitality Conference in Review
There are five enduring core issues (and potential pain points) in HR – Compliance, Compensation and Benefits, Organizational Dynamics, Selection and Retention, and Learning and Development. Of course, each can be impacted by real or perceived changes in market conditions and advances in HR theory and practice. Thus, we have the rise of specific buzzwords and increased attention to particular hot-button topics.
Read moreNew Advisory Board Initiative for Aethos™ Performance Management and 2020 Assess Practices
Discovery starts with three little words, “I don’t know.” Yet paradoxically, one of the most difficult and humbling things for us humans is to admit that we don’t know something. Our brain has evolved over tens of thousands of years into a three-pound, organic computer with the sole task of “making things more certain.” Gaining mastery and a sense of control over our physical and psychological environments is a natural, inherent human drive.
Read moreEntrepreneurs’ Corner: In Conversation With Nikolai Jaeger, An Innovative Modular Hotel Real Estate Developer
At last month’s International Hotel Investment Forum/Berlin, the event organisers arranged a panel discussion with four entrepreneurs and (co-)founders of new hotel concepts. The question up for debate: “Where is the innovation?”. [...] I caught up with Dr. Nikolai Jaeger. Nikolai is an entrepreneur and business founder, currently managing MQ Real Estate, a development company which specialises in and builds modular hotels on top of car parks, above parking lots and on top of existing buildings in European cities.
Read moreThe Uberisation of Employment
My father worked for the Midland Bank (better known today as HSBC) for 33 years. His brother, too, had been employed by the same bank. In addition, their father had similarly spent the majority of his professional life at Midland. Their respective generations were of a time when you picked a profession and, if you were lucky enough to be offered a job, you then dedicated your working life to one company until you reached retirement age.
Read moreThoughts on the IHIF 2017 – Talking Talent Profiling, Brexit and Labour Shortage
"Some of the CEOs and leaders of big lodging brands today are not professional hoteliers. Is this a disadvantage or an advantage to the groups they are leading?" On the one hand, working your way up within the same industry across a number of different functions and positions can clearly add value and credibility to any aspiring business leader. Those CEOs will be intricately familiar with the nuances and pressure points of the business, and they will probably be able to relate more easily to staff. On the other hand, an industry outsider can offer a different perspective – challenging group thinking, fostering fresh thinking and driving innovation. Synergies can come from similar business dynamics and overlaps regarding the importance of customer service or comparable growth models (via franchising, acquisition, etc.).
Read moreThe Uberisation of Employment
My father worked for the Midland Bank (better known today as HSBC) for 33 years. His brother, too, had been employed by the same bank. In addition, their father had similarly spent the majority of his professional life at Midland. Their respective generations were of a time when you picked a profession and, if you were lucky enough to be offered a job, you then dedicated your working life to one company until you reached retirement age.
Read moreIntroducing the “FAIR” Interview: Four Traits Critical for Success in a Meritocracy
Whether through social media, internal referral systems or recruiters, companies searching for top talent consistently ask me and other Aethos™ partners for advice and guidance on interviewing people to determine whether they will likely thrive in a meritocracy. That’s the name of the game in today’s hospitality industry – though not everyone is equally equipped to excel in such an environment.
Read moreThoughts on the IHIF 2017 – Talking Talent Profiling, Brexit and Labour Shortage
"Some of the CEOs and leaders of big lodging brands today are not professional hoteliers. Is this a disadvantage or an advantage to the groups they are leading?" On the one hand, working your way up within the same industry across a number of different functions and positions can clearly add value and credibility to any aspiring business leader. Those CEOs will be intricately familiar with the nuances and pressure points of the business, and they will probably be able to relate more easily to staff. On the other hand, an industry outsider can offer a different perspective – challenging group thinking, fostering fresh thinking and driving innovation. Synergies can come from similar business dynamics and overlaps regarding the importance of customer service or comparable growth models (via franchising, acquisition, etc.).
Read moreIntroducing the “Psychometric SWOT” Exercise for Effective Team Development
Many businesses are projected to double, even triple, in size over a short time frame, and the pressure this puts on all aspects of the current operation is extreme. One area of particularly potent stress can be the company’s leadership. For example, is the management team that has been running 10 hotels equipped to suddenly manage 20 hotels in the next 12 months? Does the management team have the necessary capabilities to manage new layers of organization, to integrate new accountabilities and to adjust to new lines of authority?
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