STREAMLINING BUSINESS THE HR WAY

Industry experts walk us through some of the crucial business and employee-centric HR policies adopted by hotels to tide over the COVID-19 economic crisis

- NISHA SHUKLA

The COVID-19 pandemic has resulted in the loss of livelihood across the spectrum. Of all the sectors, travel & tourism and hospitality have been severely impacted due to travel bans and the lockdown induced by the global pandemic.

The data by World Travel and Tourism Council (WTTC) (see box) reveals that in 2019 the tourism industry in India contributed Rs 194 billion to India’s GDP. The industry also supported 87.5 million jobs, 12.75% of total employment in 2018-19.

However, due to the impact of the pandemic on the global economy, the WTTC is estimating losses of up to USD 2.7 trillion, with up to 100 million jobs at risk. The travel and tourism industry in India is looking at up to 40 million job losses (both direct and indirect) and about USD 17 billion in revenue loss in the next one year.

Owing to crisis, major hospitality brands across the globe are either shutting down permanently, some are struggling, while others are resorting to cost-saving measures such as layoffs, furloughing of employees and pay cuts. However, certain hotels are taking various short-and long-term human resource (HR) measures to tide over the crisis.

Furloughs and cost-cutting

Many hospitality groups across the globe have been forced to take harsh measures such as layoffs, pay cuts and furloughing of employees to keep their businesses afloat.