Talent Factory Essay Example | Topics and Well Written Essays - 750 words

Talent Factory - Essay Example Here we look on those organizations that are well prepared for the future and have a strategy that is suitable to groom future leaders. These organizations have talent factories working internally or we can say they groom people for future so they can take up bigger responsibilities. They do this by merging two important things these are functionality and vitality. These people who are being groomed tend to become future leaders for the organizations. In this article the reader has looked upon the two top talent factories Procter & Gamble and the HSBC group both have different approaches to groom people for future but have been successfully grooming future leaders for some time. Functionality basically refers to the processes, tools, and the systems that allow any firm to put the right people at the right positions; this helps in linking the processes of the company to its objectives. HSBC follows the motive of giving people the feel of a local bank when they operate internationally, and link it with their daily processes to make it possible. HSBC keeps track of the people that are performing well at lower positions all over the world in their organization. ... The people of higher management in HSBC usually know their counterparts in other countries this builds a network of HSBC which enables them to collaborate in an easier way. Procter and Gamble on the other hand follows another strategy for talent hunt. P & G conduct its talent hunt through their growth plans; the organization hires new recruits from the local markets of the country they are operating in. For example hiring officers in China hire Chinese locals. This way the organization exploits talent from the country they are operating in. The new recruits are considered to be future leaders in the market they are working, but the higher level managers are still hired globally meaning that the executives decide of their hiring. P & G conduct training programs to train new recruits, special training programs outside the resident's country are also conducted. The organization helps new hires through mentors and special cross functional teams. The new employees are constantly given dif ferent opportunities to prove themselves, for example in 3 to 4 years of his or her hiring an employee has worked on more than 5 products with different people and in different scenarios. The organization has a very efficient system of hiring and pays close attention to it. The talent hunt system is conducted through a proper procedure with a program that keeps track of middle and upper middle managers. Their performances and successful projects in the past and the projects they are working on in the future. The managers are then promoted appropriately, according to their merit. Now coming to Vitality that is the other part of the combination of talent factories.

Loyalty Programmes in Hotels Essay Example | Topics and Well Written Essays - 19000 words

Loyalty Programmes in Hotels - Essay Example This research attempts to achieve an insight into the value of loyalty programmes to businesses and more specifically examine the value of loyalty programmes to hotels. Review of secondary data is applied to understand the value of loyalty programmes to businesses while a survey among hotels is conducted to examine its value to the hotels. Loyalty Programmes are defined as â€Å"schemes offering delayed, accumulating economic benefits to consumers who buy the brand†. Satisfaction does not equal loyalty. A customer can be very satisfied with the product, but still be not loyal towards it. In order to encourage loyalty, firms develop loyalty programs. Typically, in a Loyalty Program, customers accumulate assets, points or rewards by accumulating their purchases from a local firm which is either exchanged for goods or the services, though not always associated with the firm. This generally adopts the system of points wherein the points can be exchanged for a variety of benefits s uch as free flyer points, gifts, trips, etc. â€Å"Airline frequent-flier programs have been a prototype for many of the schemes†. Such schemes are based on the concept of repeat purchase, and in most businesses today, a large part of sales results from repeat purchase. This fact is being increasingly recognized by enterprises that are implementing loyalty programmes to encourage such purchase pattern.  ... The literature in general helped in understanding various factors and concepts associated with loyalty programme and then those had to be applied to the hotel industry for the research. 34 3.4 Research Approach 36 3.5 Research Strategy 38 3.6 Sample selection 41 3.6.1 Administering the questionnaire 41 3.6.2 Analyzing the responses 43 3.7 Time Horizon 43 3.9.1 Reliability 47 3.9.2 Validity 48 Limitations 49 50 Ethical Considerations 50 4. Analysis and Discussion of Findings 51 4.1 Hotels' definition of loyal customers 52 4.2 Reason for launching loyalty programme 53 4.3 Target segment and benefits offered 55 4.4 Designing loyalty program for corporate segment 58 4.5 Loyalty programmes that attract maximum guests and justify expenses 59 4.6 Objective of loyalty programs 61 4.7 Managing loyalty programme 63 4.8 Delivery mechanism 64 4.9 Involving staff 65 4.10 Assessing the success of loyalty programme 66 4.11 Failure of loyalty programme 70 5. Recommendations 72 Introduction Brief overview and background This research attempts to achieve an insight into the value of loyalty programmes to businesses and more specifically examine the value of loyalty programmes to hotels. Review of secondary data is applied to understand the value of loyalty programmes to businesses while a survey among hotels is conducted to examine its value to the hotels. Loyalty Programmes are defined as "schemes offering delayed, accumulating economic benefits to consumers who buy the brand". Satisfaction does not equal loyalty. A customer can be very satisfied with the product, but still be not loyal towards it (Charles and Lamb, 2008).In order to encourage loyalty, firms