In economics, a recession is a general slowdown in economic activity in a country over a sustained period of time, or a business cycle contraction. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes and business profits all fall during recessions.
Governments usually respond to recessions by increasing money supply, increasing government spending and decreasing taxation.
This fiscal crisis is hardly new to the hospitality and tourism industries. In my career, I can identify at least five major economic downturns that have included energy shortages, high rates of inflation, and negative general global cycles.
For many hotels, that means a change in operational practice - it means embracing the spirit and results of empowerment. What does that word really mean?
The dictionary shows some verbs alluding to "giving authority to somebody" or to give somebody power or authority.
A second definition is to give somebody a greater sense of confidence or self-esteem. By contrast, this second definition appears to be more action oriented but the reality is that is still means extending that sense of trust and belief in others.
Empowerment in the world of hospitality means that staff members at the front line (and hopefully everywhere) have been trained to more clearly understand the reality of the business, and the value of each customer. Everyone can be enthusiastic about the hotel's reputation, profitability and the staff is more motivated to take the initiative to deliver that one extra step.
Thirty-two percent of employees spend at lest twenty hours per month complaining about their bosses. (Probably a lot of those twenty hours are on company time).
More than 66% of employees are actively considering leaving their current job.
Employers suffer losses due to employee dissatisfaction.
Most managers believe their focus should be in bringing in the numbers ... but most get fired because of poor people skills.
three simple but effective techniques can shift the way we manage.
1. Set full-fledged expectations - make sure the employee's efforts are spent doing the right things the right way. Let them know what is expected and how they will be evaluated in the future. Be sure to get agreement and commitment to work toward established goals.
2. Communication that clicks- Too often managers do not communicate enough and only communicate when things go wrong. Observe what employees say, do, and speak openly with them about their work. Communication clicks when it is frequent and in a language everyone understands.
3. Paws on Performance - pay attention to each employee's performance - offer praise as often as constructive feedback. Keep your paws on performance."
Governments usually respond to recessions by increasing money supply, increasing government spending and decreasing taxation.
This fiscal crisis is hardly new to the hospitality and tourism industries. In my career, I can identify at least five major economic downturns that have included energy shortages, high rates of inflation, and negative general global cycles.
For many hotels, that means a change in operational practice - it means embracing the spirit and results of empowerment. What does that word really mean?
The dictionary shows some verbs alluding to "giving authority to somebody" or to give somebody power or authority.
A second definition is to give somebody a greater sense of confidence or self-esteem. By contrast, this second definition appears to be more action oriented but the reality is that is still means extending that sense of trust and belief in others.
Empowerment in the world of hospitality means that staff members at the front line (and hopefully everywhere) have been trained to more clearly understand the reality of the business, and the value of each customer. Everyone can be enthusiastic about the hotel's reputation, profitability and the staff is more motivated to take the initiative to deliver that one extra step.
Thirty-two percent of employees spend at lest twenty hours per month complaining about their bosses. (Probably a lot of those twenty hours are on company time).
More than 66% of employees are actively considering leaving their current job.
Employers suffer losses due to employee dissatisfaction.
Most managers believe their focus should be in bringing in the numbers ... but most get fired because of poor people skills.
three simple but effective techniques can shift the way we manage.
1. Set full-fledged expectations - make sure the employee's efforts are spent doing the right things the right way. Let them know what is expected and how they will be evaluated in the future. Be sure to get agreement and commitment to work toward established goals.
2. Communication that clicks- Too often managers do not communicate enough and only communicate when things go wrong. Observe what employees say, do, and speak openly with them about their work. Communication clicks when it is frequent and in a language everyone understands.
3. Paws on Performance - pay attention to each employee's performance - offer praise as often as constructive feedback. Keep your paws on performance."
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