On the occasion of the commemoration of Labor Day and within the framework of the fourteenth edition of the Dominican Annual Tourism Exchange (DATE) in Punta Cana, it is important to analyze the new context in the talent-company relationship within the Dominican tourism industry and its challenges.
We are currently experiencing a paradigm shift in which it is no longer the companies that choose the people, but the people who choose the companies, and the Dominican Republic’s tourism industry is not exempt from this.
We find ourselves in a new context in the talent-company relationship, marked by global phenomena such as the great resignation, which has raised turnover rates in companies, or the silent resignation, which has reformulated the meaning of commitment within organizations. According to some studies, the cost of replacing a person is up to one year’s salary, in the case of middle management.
In addition to the above, the pandemic’s boost to digitalization has brought concepts such as flexibility to the center of the debate. For their part, mental health, work-life balance, ethics and sustainability are among the priorities of professionals who have definitely changed. They increasingly behave at work in the same way they do as consumers, customers or citizens.
In this regard, Iban Campo, CEO of LLYC Santo Domingo said: “today the transformation of organizations is more than ever an eminently human transformation. And this has placed the challenges of talent at the center of business decisions. These are challenges that are challenging even traditional business models, because the problems of attracting and connecting with people are compromising the sustainability of companies in the medium term”.
In that sense, given the significant acceleration of the Dominican tourism industry compared to pre-pandemic and pandemic years, today more than ever companies in the sector need to understand how to attract and capture the profiles they need, how to improve the commitment of the team to meet the challenges of the organization, how to curb the turnover that does not stop growing and that is directly affecting the economic balance sheets, among other questions.
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