Like the world stock-markets, salaries and opportunities peak and valley based on similar criteria. Trends in compensation and available jobs are affected by civil disruption, cost of living, overbuilding, unique events i.e. Olympics or religious holidays i.e. Christmas. Renard International tracks global fluctuations as we serve the worldwide hospitality industry.
In 2015 Renard International completed searches in 48 countries. In our 46 year history we have successfully completed assignments in all major countries. We enclose two sample trend reports below; add your name and company to our Twitter account and receive Renard Trends as often as they are published.
“Renard Trends” also takes into consideration the movement of people or opportunities in or out of regions and compensation offered. We especially monitor middle and senior management roles. “Renard Trends” reports started in 2008, which was the year after the worldwide deflation of 2007. For example in 2008 Dubai and S.E. Asia salaries, compensation, cost of living and opportunities ratio was 35 for the UAE, and 36 for S.E. Asia respectively. This is on the Renard criteria based on number opportunities and compensation offered. 100 is the maximum possible (but never ever reached) based on open opportunities in all key management roles combined with low cost of living and an employer attitude of “we will pay whatever takes to hire”. See both graphs in this newsletter and your comment and input are most welcome and invited.
DISRUPTORS ARE EVERYWHERE WATCH OUT!
DISRUPTORS – have become a new everyday discussion in the hoteliers jargon like ROI and an everyday happening globally these days.
What are disruptors? They are OTA’s, Airbnb, mergers, family feuds, Brexit, re-organizations in preparation for sale, or kids taking over the company…Does not anything go as planned is anyone job really safe??
How you should handle disruptors is a big question with a small answer…you can do it in two ways. 1. Wait and see if you have a job, if no, collect your severance and look ahead then. Or 2. Plan now and control your future!
Let’s talk about it by email or on my next visit in October, I enclose my itinerary:
October 18th – 22nd: HICAP in Hong Kong
October 22nd – 27th: Singapore
October 27th – 31st: Shanghai
Articles in this newsletter worth sharing:
- People Matters / Innovation in Leadership
- Revised International Salary Surveys
- Select Hard / Manage Easy
- Brands are more than a Promise: they are a Guarantee
- Job Disruptions for Important Hires
…plus many more…
At Renard, customer service is not a "Department" it's an "Attitude"!
Stephen J. Renard
RENARD INTERNATIONAL HOSPITALITY SEARCH CONSULTANTS
121 Richmond Street West, Suite 500
Toronto, Ontario, Canada, M5H 2K1
Tel: (1) 416 364 8325, ext. 228
Mobile: (1) 416 890 0903
Fax: (1) 416 364 4924
Web site: www.renardinternational.com www.renardglobalmanagement.com
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