Issue link: https://resource.opensesame.com/i/1462797
Diversity, Equity & Inclusion | www.opensesame.com | (503) 808-1286 | 3 The impact of the pandemic – on businesses, families, and communities is unprecedented but not the end of the story. Resiliency abounds and with creative adaptation and mitigation strategies, many businesses are persevering and laying the groundwork for the new realities of the marketplace. Businesses that make DEI part of these new operational standards will be better equipped to face a future where innovation, the ability to cultivate different views and problem-solving skills are among the most sought-after talents. Full-scale closures notwithstanding, hospitality industries comprising the "Big Four" – Food and Beverage, Travel and Tourism, Lodging, and Recreation – have historically faced regular, almost cyclical operating challenges. Hiring and retaining quality staff, operational problems, rising costs of consumables, adapting to changes in marketing trends, data security, maintaining online reviews and keeping up with changing technology are just a portion of ongoing considerations for the hospitality provider. 2 And yet, in the one area where many organizations struggle to implement culturally and socially mandated change via Diversity, Equity & Inclusion initiatives, hospitality stands poised to excel. 1 https://wttc.org/ 2 " How to Deal with Common Challenges in Hotel Industry." Sneha Mistry. February 2021. Hiring and retaining staff Changes in marketing trends and guest expectations Operational issues and rising costs of daily consumables Housekeeping issues and requirements Irregular cash inflows Data security challenges and new technology Maintaining online reputation; losing loyal customers The growth of local hospitality hosts and rising competition Restoring business post natural calamities and crisis Top Challenges to the Hospitality Industry For what other industry is by nature more welcoming and inclined to engender a sense of belonging and inclusion than hospitality? This congenial sector, at the very least, projects the impression of warmth and conviviality, whether it is for an intimate dinner, gathering of friends for happy hour, a business flight across country or a stay at one of the country's National Parks. Hospitality at its best is defined by inclusion. The hospitality industry, according to the World Travel & Tourism Council (WTTC), accounts for 10% of global GDP and provides 1 in 10 jobs worldwide. 1 The Current State of Hospitality