What Are The Retention Of Employees

1000 Words4 Pages
Introduction Employees are the backbone of any organisation. They are the human capital that operates the functions of the organisation. Employees enable an organisation to function with its day to day operations. According to the Global Talent Trends and Issues for the Travel & Tourism Sector report by World Travel & Tourism Council (WTTC), global employment in hospitality is over 100 million jobs. This figure is expected to rise 2% yearly. Hospitality industry will grow faster in upcoming years. Global and national employee demand and supply pool will be affected. More hospitality industry employees will be needed to fulfil the demand. Therefore, retention of employees for a stable workforce in an organisation is important. Thesis Statement This essay will discuss the current trend…show more content…
This will give us an insight of the current situation of Singapore’s workforce. We can then mitigate the problem whether it’s a workforce growth or decline. Singapore will be one of the 12 countries to have intense loss of talent where demand will overgrow supply by more than 1% (WTTC, 2015). This means in the future the Singapore’s hospitality industry will need more employees. Singapore currently has industries nearing to full employment. This shows the current workforce has low unemployment and are mostly working. However, in the future there will be more demand of employees than supply. This would mean the current workforce is not sufficient for the growing hospitality industry. There will be more hospitality establishments and growth. However, there will be a lack of employees in the hospitality industry to fill those job positions, causing an imbalance of understaffing. This will be an issue for hospitality employers in the future to maximise their understaffed employees working efficiency. Retaining employees to work in the hospitality industry is thus important due to foresee of labour
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