Global Korn Ferry/Futurestep Study shows discrepancies between priorities for Travel/Tourism Employees and what they believe their employers deliver
Los Angeles, CA. April 28, 2015
LOS ANGELES, April 28, 2015 — Korn Ferry (NYSE:KFY), the preeminent authority on leadership and talent, and Futurestep, a Korn Ferry company specializing in high-impact talent solutions, today released results from a global study highlighting top priorities for employees in the travel/tourism industry.
The study of more than 1,000 employees from 15 global companies within the sector finds significant gaps between what the workers deem as important and what they believe their employers actually provide.
Most of the surveyed employees are millennials (88 percent) who have been on the job between 1 and 5 years (60 percent) and are individual contributors (55 percent).
The respondents were asked to choose five of 24 capabilities they preferred in an ideal employer. In order, the three most preferred capabilities were: 1. Offers a good work-life balance; 2. Encourages and supports employee development; and 3. Personally rewards me for my contribution.
However, when asked, “How does your current employer deliver on these capabilities,” “Offering a good work-life balance” came in at No. 23 and “Personally rewards me for my contribution” came in at No. 24. “Encourages and supports employee development” fared a bit better at No. 7.
Futurestep makes key recommendations for attracting and retaining talent:
- Be more radical – Organizations must be open to taking on ideas from employees, championing internal mobility and creating flexible career paths
- Become the ‘Champion’ or ‘Innovator’ – Support employee development, create brand ambassadors and continue to innovate to attract creative talent that drives further transformation
- Grow responsibly – Empower staff to share ideas, learn and develop so they will go further for customers to facilitate business growth
- Incentivize customer focus – Businesses must reward employees for customer-centric behavior through relevant incentives
“This research comes at a pivotal time for the industry, which according to the latest World Travel and Tourism Council (WTTC) forecast, is set to expand faster than the global economy this year ,” said Bernard Zen-Ruffinen, president, Korn Ferry EMEA. “With talent playing a pivotal role in growing organizations into better, stronger brands, companies must adapt their strategies to attract, engage and retain the talent that will futureproof their business.”
“With media consumption changing drastically during the past few years, the rise of mobile technology and social media has impacted employees’ attitude to the workplace,” said Neil Griffiths, global practice leader, Talent Communications & Employer Brand, Futurestep. “As a result, a more innovative, daring, but rewarding employer is required – one who is willing to be creative in their outlook to best engage the most qualified talent.”
About the research
The global report surveyed 1,036 male (47 percent) and female (53 percent) employees from 15 organizations who held the position of executive (1 percent), people manager (29 percent) or individual contributor (55 percent). These individuals were categorized as Traditionalists (1 percent), Baby Boomers (16 percent), Generation X (10 percent) or Millennials (88 percent) and ranged in tenure from less than one year (19 percent) to 26 years or more (2 percent).
About Korn Ferry
Korn Ferry is the preeminent authority on leadership and talent. For nearly half a century, clients have trusted us to recruit world-class leaders. Today, we are their partner in designing organizational strategy and developing their people to achieve unimaginable success.
Futurestep is the global industry leader in high-impact recruitment solutions; offering fully customised, flexible services to help organisations meet their talent and recruitment needs. Our clients turn to us for proven expertise, a global process and infrastructure, proprietary competency models, innovative sourcing and attraction strategies, and a unique approach to measure and optimize business impact.
As a Korn Ferry Company, Futurestep can meet a variety of workforce requirements; from RPO and project recruitment, to search and consulting, our solutions apply a truly world-class capability to deliver talent with impact, providing the experience and global reach to identify, attract and retain the people who drive business success. To learn more, visit www.futurestep.com.