Stages of HR Life Cycle in Travel and Tourism Industry

INTTRODUCTION
Human resource mangement can be defined as handling thehuman assets in an organization so that
productivity and profitability ca be raised at a large scale. Every small and large and organization carries
out HRM in their working premises. It plays a vital role in the growth and success of the businessin the
cut throat competituve world. This report is based on Marriott which is serving it’s services across the
globe. This the fastest growing travel and tourism industry in UK. This assignmment is based on various
stages of HR life cyacle and how they help in reatining talet in the firm. Also, a management paln is
designed so that staff retention problems can be resolved. However, several legislation realed to travel
and tourism is discussed so that goodwill can be raised in the eyes of the customer. Additionally,
throwlight on how, employment an contract law affect the decision making process in travel and
tourism. Moreover discuss budget in order to control firm performance and to discover variances.
P1) Discuss rational and principles of revenue management for travel and tourism industry.
Reveue mangement can be defined as the appliciantions by which consumer behaviour can be studied
at the micro level and product avialbility and prices are designed acordingly.It assist the administartion
to grow and flourish in the global market. This palys a viatl role in travel ad tourism sector as this helps
to maximize huge profit in the cut thraot competituve world.
Human resource mangement is the corre tassk which need to be carried out effectively in an
organization.it can be sated as the process of recuriting, traning, developing, providing compensation,
hiring, firing etc. are manged by HRM deaprtment of the administartion. By doing so workforce
management of the enterprise can be improved. Due to which profitability and productivity can be
raised on continious basis in the ct thraot competitive vworld. The rational and principles of revenue
mangement for travel and tourism industry are discussed are as follows:
The revenue mangement is divided ino three parts which are vdiscussed as follows:
Pricing: The prces of the product vare discussed according to the market sceanrio in the global market.
As per the needs and deamd of the customers prics of the product and services are designed so that
hugecustomer base for the services can bev raised accordingly. This dirrectly or indirecly raisse the
revenue mangement of Marriott atta large sacle . Affordable prices of the services attarct huge potentail
customers du eto which profit can be maximized.
Product distribution: The demand of the product raises when firm come up with innovative product in
the cut thraott competitive world. Marroitt adopts effective product distribution cahnels in order to
meet the emerging neds of the customers. It also, increases the revenue mangement process in the
company due to which det goals are meet on time. Effective product distribution cahnnel aid the
prganization to upgrade the goodwill in the eyes of the customers in the competituve world. By doing so
the competituve advantages can be achieved against arvalry. Also, touf satdards can be craeted in the
same market palce.

Revenue mangeemnt helps the oragnization to grow and flourish in the glaobl market and helps to
genaerate huge profit in the intance market.this palys a sgnifiacnt role in attaning set standards
formualted.
P2) Reach out paricualr sector of travel and tourism industry and apply revenue mangement tools .
Revenue mangement can be exaplined applicaitions of discplined anlytics which assist the firm to
predict consumeer behaviour in the external macro envoronment. By doing so prices oofv the product
or services are designed accordingly in the internaional market. Revenue mangeemnt tools helps the
firm to achieve the sett objective in the set timew frame. It is very necesasry to carry out this in the
enterprise as it dirrectly or indirectly assist the business assocautes to survive for longer time period in
the competttve world. There are various revenue mangement tools which are discussed as follows:
PMS (PROPRTY MANGEMENT SYSTEM): Marriott adopts this revenue mangeemnt tools in their
working premises so that effective results can be acieved accordinglly. By doing positivve image is
careted in the customer eyes so that hugge proofit can be raised. In tshi case reception palys a vital role
in it. As this is the palce where client vist and interecrion take palce. By effectivel handling the proprty
mangementt system directly or indirrectly incaerses the sales ratio in the cut throat competitive wold.
However, administration si ale to meet the set standards in the set time frame.
Booking engine: This is another revenue mangement tool which helps Marriottt to accomplis set
goals.Customers are provided 24 hour booking facilities in travel and tourism industry. By which more
and more potentail customers are pulled towards the services. By doing so market value can be raissed
in the eyes of the csutomers. The facilities of online booking has incaersed the number of travellers for
the services . Which is a positive sign for the oragnization in the competitive world. Advancement in
booking engine has rased the market value of the buwsiness concern in the neck to neck competition.
Channel manger: It is also a part of revenue mangement tool in the cut tharot competitive world. By
running the bsuiness effectively proper fubctioning of channel of manger si must. This helps in
accomplishing set objectuves in the set time frame. In oder to increase the sales volumen in the cut
tharot competitive wold cahnnel of manger need to work effectively and efficiently. They play a
significcant role in reatining skilled and potential customers. Effective cahnnel of manger need to
adopted in the working pemises soa that emerging needs off the csutomers can be fulfilled respectively.
Rate shopper: in this case Marriott comapre the existing prices of the compitiors in the real term. By
doing tactics can be farmed res[rctively and huge markt ratio can be achieved accodingly. The prices are
caomprred on the basis of distinguisged reservaton cahnnels anf room type prevaling in the amrkt.
Organization can comapre the prices of the compitiors by using yieldplanet price shopper. It directly or
indirectlyy affect the sales volume and workforce efficiency in the neck to neck competition. Also, by
using tshis revenue mangement tool employees are motivated to perform better in order to decraese
the swirching eate of customers to other brand.
P3) Review several stages of human resouurce life cycle applicable to travel and tourism as well as study
importance of retaning and developinig talent.

Human resource(HR) life cycle or employee life cycle can be stated as stages of huaman assets in a
particualar bsuiness associates and the shifting roles in distingusiheed satgs are studied briefly. In an
organization each and every has their own huamn resource life cycle. As well as their own challeges
benefitts, drawbacks and opportunities which dirrectly or indirectly help the staff members to grow in
their carrer. Also, benefit the oragization in raising the productivity and profiatbility in the neck to neck
competition. In case of tarvel and tourism the huamn resource life caycle palys a viatal role. This is a
continious processs carried out in the every organization. Here, employees rae benefited by the human
resource life cycle as it enrich the skiils of the workers which directly or indirectly assist in their carrer
growth. The satages of humann resource life cycle of marriott are understood as follows:
Recuritment: Oragnization hiring or recuriting right nominee for the vacant palce directly uplift the
workforce efficiency in the cut throat competitive world. Marriott hires or recurit staff members from
both internal and external recuritment process. By doing best and qualified candiate is choosen for the
vacant job profile. This huamn resource life cyacle motive the existing employees to work effectively
and efficiently in order to meet the desired goals objectives on time. In context to tarvel and tourism
right applicant choosen for the vacany leads to rasie in sales volume of the customers. By dong so
profitability ratio incaersed at a large sacle. Also indirectly it asssit the bsuiness assoacites to reatin the
employees bac in the oragnization . so that productivity and workforce perfomnce uplift on continious
basis. It plays a significant role in order to grow and develop the business gloablly.
Motivation: Marriott conduct various motivation techiques to retain the potential, capable and qualified
staff members in the oragnization.as well as provide several simanrs for workers in order to encourage
the employees to perform better in the competiive market place. Mptivation act as a tonic which
directly upgrades the overall perforamce of the satff workers in the cut tharoat competitive world. It si
another part of Huamn rsource life cycle. Inn travel and tourism industry motivation is the key to
success. Timely encoraging the workers assist to accomplish the desirrd objectives in the market palce.
Education: organizaton tarin and educate their potenatil staff members to reatinn back in the firm. Also,
enrich the existing talent and skills by eduacting them reagrdin their job profile and structure. In order
to grow the business of travel and tourism in the neck to neck competition employees og the buxsiness
assocaitesss need to be educates in every deaprtament so that best outcomecan be received. Marriot
contribute some of the profits in educating the workers which raises the firm’s market value in the
intance competition. As a part og human resource life cycle it directly assist in upgarding the carrer
growth of the stafff members.
Evluation: in order to attain best results in the set time frame evaluation is needed in the open market.
Marriot examine market scenario so that straetegies can be formualtted accordingly in the cut throat
competitive world. By doing so capable and potentail employees can be reatined for lonfer time period
in the open amrket. Timely examining the performance in travel and tourism sector the cahnces of error
can be eliminated and required improvements can be done respectuvely. As a part of huamn resource
life cycle it directly aid in growth og the business at a wider level.