The hospitality industry is today experiencing a high level of movement across executive roles. Many executives are reassessing their career paths and seeking new opportunities in response to the pandemic’s impact on the industry.
At an event I attended recently, data suggested that 50% of executives are actively seeking new opportunities at this time.
As the industry continues its recovery and adapts to new challenges, this increase in movement is likely to continue.
One of the main reasons is the evolving landscape of our industry. Many hospitality businesses are shifting towards more sustainable and ethical practices, and these require a new and different skill set from executives.
The pandemic has also accelerated the adoption of new technologies and senior management with expertise in this area are in high demand.
Then there is the increasing importance of diversity, equity, and inclusion in the workplace. As companies seek to create environments that meet these requirements, they are also seeking executives with a solid track-record of promoting these values.
Furthermore, the pandemic has forced many executives to reassess their priorities and career goals. While some may be focussed on greater flexibility and work-life balance, others are motivated by new challenges and opportunities for growth.
Overall, the high level of movement across executive roles in hospitality is a reflection of the industry's morphing landscape and the emerging priorities of both businesses and executives. As the industry continues to adapt and grow, we can expect these trends to continue.
Sydney, Melbourne, and Brisbane exemplify the high level of movement across executive roles. These three cities are major hubs for our industry and the search for senior executives in these locations can be intense.
As a result, executives may be drawn to one city over another depending on which best meets their personal preferences and career goals.
With border closures and recent restrictions on international travel, Sydney and Melbourne have suffered a decline in their tourism industries, while Brisbane has seen an increase in domestic tourism. As a result, executives may be more likely to move to Brisbane to take advantage of opportunities in this growing market.
The scale and dynamics of the senior talent movements across Sydney, Melbourne, and Brisbane are leading the way for Australian hospitality. As the industry continues to adapt and evolve, we can expect these trends to see continue.