logo

HR Life Cycle in Hospitality Business Toolkit

   

Added on  2021-01-02

21 Pages4635 Words498 Views
Hospitality BusinessToolkit
HR Life Cycle in Hospitality Business Toolkit_1
Table of ContentsINTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................4Investigate principles of managing and monitoring financial performance................................4TASK 2............................................................................................................................................7Different stages of HR cycle applied to specific hospitality job role and their importance forretaining and developing talent...................................................................................................7Evaluate the importance of HR life cycle in relation to strategic talent management................8Valid judgement and recommendation on how HR processes and documents can be improved.....................................................................................................................................................9Performance management plan for specific hospitality job role applying techniques toresolved.....................................................................................................................................10TASK 3..........................................................................................................................................11Identify specific legislation that hospitality organisation has to comply and adhere................11Using specific examples illustrate how company, employment and contract law has impact onbusiness decision making..........................................................................................................11Examine the potential implications of regulations, standards and legislation upon decisionmaking in hospitality organisation............................................................................................12Critically reflect on potential impact of regulations, legislation and ethical principles upondecision making........................................................................................................................12TASK 4..........................................................................................................................................13Explore how different functional roles within hospitality sector interrelate.............................13Explain different methods of communication, coordination and monitoring applied withindepartment of hospitality organisation......................................................................................16
HR Life Cycle in Hospitality Business Toolkit_2
Analyse how different methods of communication, coordination and monitoring within aspecific department achieve organisational objectives.............................................................17Critically analyse different methods of communication, coordination and monitoring within aspecific department of hospitality organisation........................................................................18CONCLUSION..............................................................................................................................18INTRODUCTIONHospitality industry is a very broad term and many types of services such as lodging,theme parking, transportation and travelling are included in it. Hospitality industry focuses ongiving best services to their consumers. This sector majorly focuses on serving consumers bygiving desirable things and attributes. This report is based on hospitality industry that concernover building tactics with strategies to reach at larger consumer base to grab large market share.This report is based on Care all hotel that is situated in London and provides all services relatedto food and beverages, transportation and other services. This report focuses on differentprinciples for managing the financial analysis with help of double entry system in ledger. Furtherit also elaborates stages or cycle of HR to appoint suitable candidate's in hospitality industry.TASK 1Investigate principles of managing and monitoring financial performance.(a) Recording of income and expenditure by using table:IncomingsOutgoingsWagesWeekly food shoppingGiftsClothesBenefitsGiftsAllowancesHousehold utility billsdrinksLunch purchases(b) Explanation of following terms in perspective of hospitality industry:There are many terms that are described as follows:Input cost:
HR Life Cycle in Hospitality Business Toolkit_3
Input cost is direct material cost, labour cost and overhead things or items that should be devoted in production of goods and services (Bowie and et.al ., 2016). In case of care all while they produce products and services they occur many types of expenses to get best services to their consumers. Types of cost:There are different types of cost that should be incur while produce goods and services to give best outcome to their consumers. Here is list of costs that incurs while operate a business that is fixed and variable cost, direct and indirect cost, product and period cost, controllable and uncontrollable cost and at last out of pocket and sunk cost (Emery, 2011.). These all types of cost should be incur while operate a business to get effective results.Double entry bookkeeping system for debit and credit terms:In double entry bookkeeping system transactions and data are recorded in terms of debit and credit. In which debit is offset in one account and credit in another and sum should be equal of debit side to credit side (Fairley and Zipp, 2010). It helps in keeping and prepare data and information safe and away from errors. Care all hotel avail that system to know each and every aspect to collect best results.ParticularsDebitCreditCash in hand (Overdraft)10700Petty cash expenses750Cash sales3350Credit card sales14795Free issues575New kitchen equipments6540Food purchase7900Beverage purchases12970Purchase return200Discount received2300Credit notes190Rent2850Utilities475Functions and events (Income)5967
HR Life Cycle in Hospitality Business Toolkit_4
Wages4590Debtors700Till shortage1523750237502Balance off rule:At end of every accounting period it is obligatory to find out balance of ledger account in order to trial balance can be extract from part of accounting cycle. Balance off rule also known as balancing the ledger (Griffiths and Crescenzo, 2012..). In case of care all they use balancing of accounts to collect all data and information to get desirable outcomes. Main function of balance off is to match with journal and ledger to judge accuracy level. It is very obligatory for every organisation to get results in proper way to reach at large consumer base.ParticularsDebitCreditBank loan12000Cash in hand11700Capital13000Rates1880Trade creditors11200Purchases12400Sales14600Sundry creditors1620Debtors12000bank loan interest1400Other expenses11020Vehicles20205242052420ParticularsDebitCreditTransaction amountWages1648916489
HR Life Cycle in Hospitality Business Toolkit_5
Gifts2400024000Benefits2500025000Allowances1590015900Weekly food shopping2641526415Clothes1780917809Gifts1500015000Household utility bills36783678Drinks1003210032Lunch purchases845584558138981389162778TASK 2Different stages of HR cycle applied to specific hospitality job role and their importance forretaining and developing talent.Human resource there are different types of stages of HR cycle exist that plays major rolein perform functions and attributes in well manner. There are different stages of HR life cyclethat are as follows:Box 1:In case of Care all hotel manager of that organisation publish their advertisement ondifferent modes in which social media, various websites of company and many more.Box 2:In that phrase, potential candidates should be judged by HR manager by evaluatingdifferent aspects such as skills, talent and knowledge according to their designation ( Hickey,Williams and Nader, 2011). In that perspective they contributes in giving their majorcontribution in organisational growth and enhancement.Box 3: Good QuestionsTell me about yourself.What you know about that industry?What is your salary expectation according to job role?Bad questions.Shortcomings in you which directly influence the business?Reason to quit the previous job?
HR Life Cycle in Hospitality Business Toolkit_6

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Hospitality Business Toolkit Principle
|15
|3753
|469

Sample Hospitality Business Toolkit Assignment PDF
|20
|4377
|342

Hospitality Business Toolkit in Hospitality Industry
|18
|4265
|330

Assignment on Hospitality Business Toolkit - Doc
|13
|2891
|81

Hospitality Business Toolkit: Managing Finance, HR Life Cycle, Regulations, and Integration
|19
|4351
|467

Hospitality Business Toolkit Assignment - sweet and sour restaurant
|22
|4378
|478