Talent management and retention strategies in luxury hotels: Evidence from four countries.

Abstract

Purpose The purpose of this paper is to provide a definition of talent and talent management in the luxury hotel sector with a focus on talent retention strategies. Design/Methodology/Approach A qualitative approach was employed and 27 face-to-face semi-structured interviews were conducted with managers in luxury hotels in four countries (US, UK, Australia, and Greece). Findings Talent refers to those who “go above and beyond”. Talent retention strategies in luxury hotels include a friendly, family-oriented and open access culture, teamwork, compensation, succession planning, and training and development. A hybrid exclusive and inclusive approach to TM is proposed with the implicit engagement of the individuals. Practical implications Luxury hotels should choose talent management practices that fit the organizational culture with a focus on retention strategies that are tailor-made to the individual or groups of individuals. Opportunities to progress, succession planning and employee participation to talent management are valued in the industry. Originality / value This study provides findings from empirical comparative research conducted in four different countries, whereas most published work on talent management focuses on bibliographic reviews. It provides a conceptualization of talent and talent management. This study frames the nature of TM in hotels, and advances the knowledge of talent retention strategies found to be effective in hospitality. Keywords: talent, talent management, retention strategies, luxury hotels Paper type: Research paper