Then, of course, there are the leaders who get it. In the effort to drive change, it must seem like no one could possibly meet our leadership standards. While far from the truth, we do believe that a clear understanding of the real value of Human Capital is a critical component of the new mindset. Solid examples are hard to come by. Boom times come and go.
Labor markets expand and contract.
But more lasting forces are converging today to permanently elevate the premium on human capital. It is now the central ingredient of economic output. Workers' minds and attitudes are as important to satisfied customers as materials and machines used to be. And thus recruitment and retention are now indispensable skills across every industry, from hospitality to high-tech. After all, like software, recruiting, engineering, legal, medical and other knowledge professions, the hotel business is the people who work there.