Hcareers recently released its Hospitality Employment Trend Report for Q2 2018. As usual, the anticipated report identifies some important employment trends currently affecting the hospitality industry.

Let’s take a quick look at some of the noteworthy revelations from the report, and what they mean for industry employers.

Hospitality Is an Industry of Job Opportunity

Employment opportunities in the hospitality industry continued to grow in the beginning of 2018. In the first quarter of the year, the sector had 16,256,000 employees, a three percent jump up from the previous year. In January 2018, there was a strong 24 percent year-over-year growth in job openings. Also encouraging, the industry’s unemployment rate hit a new low in March 2018 at 5.8 percent.

What Does It Mean for Hospitality Industry Employers?

Overall, this is a sure sign that the hospitality industry is healthy. But competition for the best employees has certainly been heating up. More job openings and fewer job candidates puts pressure on employers to make their positions and their brands more attractive to applicants, and to act quickly to snatch up top talent. It’s also increasingly important to be mindful of how the hiring processes affects employee retention.

Hospitality Positions Are Going Unfilled a Little Longer

The average time to hire in the industry reached a new peak in early 2018. Over the first quarter, the mean job vacancy was 21 business days. That is significantly lower than the 30-day time-to-hire average for jobs overall in the U.S., but it is seven percent higher than the hospitality sector’s 2017 number.

What Does It Mean for Hospitality Industry Employers?

Considering the trend mentioned above, this indicates employers are having more difficulty finding and securing that perfect candidate. It also suggests applicants are taking a little more time to explore their options before accepting an offer. Employers must stay competitive with factors like salary, benefits, brand reputation, and the hiring process experience. Increased focus on creating highly appealing but also accurate, informative job descriptions is in order, too.

Hourly Job Wages Continue to Rise in Hospitality

Hourly wages in the hospitality industry have been gradually trending upward for a long time, so it comes as no surprise they’ve continued to do so in 2018. Marking a three percent increase over 2017, the average hourly rate for hospitality employees in the U.S. was $15.81 during Q1 of 2018.

What Does It Mean for Hospitality Industry Employers?

This, too, goes right along with the previously mentioned trends. With more job opportunities and fewer candidates, it naturally follows that wages will rise. Offering a competitive salary is, of course, one of the primary ways to draw top talent, so it’s important to keep up with current numbers. It’s also critical to hone the recruitment process to align the right people with the right jobs, and to regard new hires as long-term investments who should be paid a fair rate.

The Recruitment Process Is More Important than Ever

Competition for great employees is tougher than ever. At Gecko Hospitality, we have a knack for perfectly aligning people, positions and hospitality brands. Contact our top hospitality recruiters to discuss how we can help with all your staffing and recruitment needs. 

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