HR and Revenue Management Analysis in the Travel and Tourism Sector

This report provides an overview of the travel and tourism sector, emphasizing its importance in economic growth. It delves into the HR life cycle, detailing the role of HR in each stage, from recruiting and onboarding to career development. The report highlights challenges in talent acquisition and retention within the airline industry, such as finding skilled applicants and the effectiveness of training programs. It also explores the role of a revenue manager, including monitoring revenue management strategies, conducting analysis, and developing performance management plans. The report offers recommendations for improving HR practices and concludes with a summary of the key principles of revenue management for British Airways and the design of a performance management plan. References are provided to support the analysis.

The Travel and Tourism Business Toolkit

TABLE OF CONTENT
 INTRODUCTION
 Overview
 HR life cycle
 Role of revenue manager
 Performance Management Plan
 CONCLUSION

INTRODUCTION
 Travel and tourism are the most important sector that contributes the
biggest part for the growth of economy and tourism is travel for business
and a practise of touring in which their business is to attract wide range of
visitors.
 Report describe the HR life cycle and the importance of HR plays in each
stage and then it develops the performance management plan in order to
support the job role.

Overview:
 The talent acquisition and retention in airline industry also faces some
issues such as finding new talent in quite a bigger challenge than
dealing with the retirements.
 Even the biggest recruitment challenge is the availability of an
applicant with a right skill level and the qualifications.
 Apart from this the current training initiatives are not also enough
effective and even the quality of training programs is also not good
enough.
 Moreover, in airline industry, the technology is also changing but this
is still not adopted by the industry specially in customer service role

HR Life cycle
HR life cycle:
 It is one of the most simple HR process that provide global
standardization in order to eliminate the errors and reduce
the cost.
 There are basically four stages of HR life cycle which are
described below:

Continued...
 Recruiting and Onboarding:
 It is the process of hiring new employees and the main role of HR
is to help in hiring by placing the job ads, select those candidates
whose resumes look promising, conduct an interview and choose
the best applicants.
 Moreover, it is a process of getting the successful applicant in
order to set up in a system as a new employee.

Continued....
 Orientation and Career Planning:
 It is the next stage in which the employee become the member of a company and they are now at
learning stage win which being a revenue manager, it is the duty to support the HR of the firm in
order to make the new employee comfortable and also establish the relationship with co- workers.
 Further, at this stage HR also make additional use if personality profile testing in order to determine
the best career option in a company.

Continue..
 Career Development:
 This helps to keep engaged the employees within a company and when they set in working environment
of the company then HR of the firm also help to meet out those goals.
 Such that they provide training session in order to raise the employee performance and assign more
responsibilities to perform better.

Role of revenue manager:
 Monitoring the revenue management and distribution strategy of British Airways and
also manages day to day operations.
 Daily pick- up analysis adjustment and reporting.
 They have to perform competitive benchmark studies and follow market trends.
 Provide weekly dynamic forecast for some expected results, variance and budgets.
 Make sure that the system are perform well and have working to full capacity.
 Conduct quarterly property performance review and develop tactical action.

Performance Management Plan
Specific Measurable Achievable Resources Time
bounded
Revenue
manager have
the skills to
attain the goals
of the company
i.e. increases the
sales up to 20%
The aim of the
company will be
achieved within
2 years by
measuring the
performance of
the company.
The goals will
be achieve
within particular
time and by
providing proper
training sessions
to the
employees, the
goals will be
achieved.
The performance
and the progress
of the goal is
reviewed
regularly by
Revenue
manger.
The action of the
revenue manager
are such that
they can be
achieved in
prescribe time.

Recommendation:
 In order to improve the first stage, HR of the quoted firm should creates a staffing plan
which includes the position that needs to be filled and also analyze the compensation and
benefits package in order to lead a business in competitive edge.
 To improve the second stage, they should provide proper training sessions to their
employees so that they will be easily improve their working efficiency and also helps to
attain the goals.
 In third stage, the HR motivate them and even appreciate their working performance to
make the business more successful.
 In last stage, they also hire some candidate and they should also evaluate the performance
of their employees and then again provide training sessions to motivate them.

CONCLUSION
 By summing up above report it has been concluded that travel and tourism have their
own importance in the growth of economy.
 In the same way, the report also concluded some principles of revenue management for
British Airways and different pricing strategies which are used by the firm in order to
generate more revenue.
 Further report concluded through Hr life cycle the role of revenue manager and also
design the performance management plan.