Human Resource Management at Hyatt Hotels
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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HRM is the process through which the manager of an organization recruits, selects, trains, and develops an effective employee team for the business. Human resource management involves employees’ features and performance in an organization or a business. It may also be defined as the strategic approach used in procuring, developing, and maintaining a highly skilled workforce to effectively attain an organization's goals through a distinctive set of integrated employment policies, programs, and practices. This paper examined human resource management at Hyatt Hotels.
Hyatt Hotels believes that its human resource management practices are essential for its success and sustainability. By taking care of its employees, Hyatt Hotels ensures that it takes care of its guests, owners, and communities.
Hyatt Hotels is known for its strong focus on human resource management. They prioritize employee development, engagement, and well-being. Hyatt Hotels invests in training programs to enhance employee skills and knowledge. They offer various learning opportunities, including online courses, workshops, and mentorship programs. This helps employees grow both personally and professionally.
Hyatt also values diversity and inclusion. They promote a work environment that respects and celebrates different backgrounds, cultures, and perspectives. They believe that diverse teams lead to better innovation and customer service.
Employee engagement is a priority at Hyatt. They encourage open communication, provide recognition for achievements, and foster a positive work culture. This helps create a motivated and dedicated workforce.
Additionally, Hyatt Hotels offers competitive compensation and benefits packages to attract and retain top talent. They also prioritize work-life balance and provide resources to support employee well-being. Overall, Hyatt Hotels places a strong emphasis on HRM, recognizing that their employees are integral to their success.
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Human Resource Management at Hyatt Hotels Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the concept of Human Resource Management and its significance to any organization
- Understand how Human Resources is managed at Hyatt Hotels
- Demonstrate your understanding and deep knowledge of the various aspects of Human Resource Management
1.0 INTRODUCTION
Human resource management refers to the process of managing the people who work for an organization. HRM involves planning, recruiting, selecting, training, developing, rewarding, and retaining employees. HRM also deals with issues such as employee relations, performance management, health and safety, diversity and inclusion, and ethics.
Hyatt Hotels is one of the leading hospitality brands in the world. As of December 31, 2021, Hyatt’s portfolio included more than 1,150 hotel and all-inclusive properties in 70 countries across six continents. (Statista, 2022). Hyatt Hotels strives to deliver exceptional experiences to its guests, employees, owners, and communities. To achieve this vision, Hyatt Hotels relies on its human resource management (HRM) practices, which aim to attract, develop, and retain the best talent in the industry.
Hyatt Hotels' HRM practices are based on four core values: respect, integrity, humility, and empathy. These values guide the way Hyatt Hotels treats its employees and create a culture of care and inclusion. Some of the key HRM practices that reflect these values are:
Recruitment and selection: Hyatt Hotels uses a variety of methods to recruit and select candidates who share its values and passion for hospitality. These methods include online platforms, social media, referrals, campus visits, career fairs, and internships. Hyatt Hotels also partners with local organizations and educational institutions to promote diversity and inclusion in its workforce.
Training and development: Hyatt Hotels invests heavily in training and development programs for its employees, both at the corporate and property levels. These programs include orientation, on-the-job training, coaching, mentoring, feedback, e-learning, workshops, seminars, and leadership development. Hyatt Hotels also offers tuition reimbursement, scholarships, and career advancement opportunities for its employees who want to pursue higher education or professional certifications.
Performance management: Hyatt Hotels uses a performance management system that aligns the goals of the organization, the properties, and the employees. The system involves setting SMART (specific, measurable, achievable, relevant, and timely) objectives, monitoring progress, providing feedback and recognition, conducting appraisals, and rewarding performance. Hyatt Hotels also encourages a culture of continuous improvement and innovation among its employees.
Compensation and benefits: Hyatt Hotels offers competitive compensation and benefits packages to its employees, based on their roles, skills, experience, and performance. The compensation package includes base salary, incentives, bonuses, and commissions. The benefits package includes health insurance, dental insurance, vision insurance, life insurance, disability insurance, a retirement plan, paid time off, an employee assistance program, employee discounts, and recognition programs.
Employee relations: Hyatt Hotels fosters positive employee relations by creating a work environment that is safe, healthy, respectful, and supportive. Hyatt Hotels has policies and procedures that ensure fair treatment, equal opportunity, non-discrimination, and non-harassment of its employees. Hyatt Hotels also has an open-door policy that allows employees to communicate their concerns or suggestions to their managers or HR representatives. Hyatt Hotels also organizes various events and activities that promote employee engagement, teamwork, and fun.
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