Compensation and Benefits Management of Hotel Industry in India

(Compensation and Benefits Management of Hotel Industry in India) (FLAME School of BusinessTrimester 6Compensation and Benefits Management4/11/2015) (Aditya Mokashi Bhoomi Bhatt Shaurya Deep)

Contents

Sr. no.

Title

Page no.

1.

Introduction

2

2.

Background

6

3.

Objective

11

4.

Methodology

12

5.

Presentation of Data and Analysis

13

6.

Observations

21

7.

Conclusion

24

8.

References

25

Introduction

Size of the Industry

Indian Hotel Industry has supply of 110,000 rooms and about 150000 room in pipeline to come up

Geographical distribution (According to most revenue generation)

Mumbai, Delhi, Banglore, Goa, Hyderabad, Kerala, Jammu and Kashmir, Madhya Pradesh ,Lucknow

Output per annum

The industry is set to grow 15% per year

Brief Introduction

Over the last decade business opportunities in India had intensified and elevated room rates occupancy levels in India. Even budget hotels are charging USD 250 per day. 'Hotel Industry in India' success story is only second to China in Asia Pacific[footnoteRef:1]. The World Travel and Tourism Council, says that India ranks 18th in business travel and will be among the top 5 very soon[footnoteRef:2]. India's big success stories includes the new model for development and growth; a model that is uniquely made. [1: http://www.financialexpress.com/article/travel/management-travel/asian-show-of-strength/18920/] [2: http://en.wikipedia.org/wiki/User:Ktripathi39/sandbox]

Indian Hotel Industry's room rates are most likely to rise 25% annually and occupancy to rise by 80%, over the next two years[footnoteRef:3]. 'Hotel Industry in India is gaining its competitiveness as a cost effective destination. [3: http://gochihotel.com/market_analysis_12.html]

Size of the industry

Indian Hotel Industry has supply of 110,000 rooms. According to the analysis of tourism ministry, 4.4 million tourists visited India last year and has risen to 10 million in 2010 - to accommodate 350 million domestic travelers. The Hotel Industry in India is at the verge of making 150,000 rooms fueling hotel room rates across India[footnoteRef:4]. There is tremendous opportunity for India as a destination for hotel chains looking for growth. [4: http://www.academia.edu/8120825/Over]

Categorization of Hotels in India

The basic division in India according to the location is as follows[footnoteRef:5]: [5: http://tourism.gov.in/TourismDivision/AboutDivision.aspx?Name=Hotels%20and%20Restaurants]

Heritage HotelsThese types of hotels reflect the old glory and grandeur of India, they are mostly the old havelis and mansions of ancient times which have been turned into Heritage Hotels, these provide tourists with an opportunity to experience royal pleasure in traditional ambiance. They mostly concentrate in the princely states of Rajasthan, Delhi, and Madhya Pradesh

Luxury HotelsThese Hotels are equipped with world class infrastructural amenities, they offer the tourists with a fine lodging and dinning experience. They extend a warm welcome to the customers catering primarily to the upper class executives.

Budget HotelsThese kinds of Hotels are like home away from home, they accommodate customers from upper middle and middle class. Mostly named as Economy Class Hotel, Business Hotels and Discount Hotels, the Budget Hotels supports the modern infrastructural facilities for a comfortable and pleasant stay.

ResortsResort hotels in India are mostly found in hill stations and sea side tourist destinations. These are located amidst natural scenic beauty, they are the ideal place to enjoy some valuable time with family and friends or in solitude.

Important Hotel Groups in India

Indian Hotel Industry has been booming business and has also given a boast to tourism business in the country. Radisson Hotels India, Taj Group of Hotels, Park Group of Hotels and ITC Hotels are some of the known hotels in the hotel industry that are famous for unique amenities and superb accommodation arrangements.

There are also the ITC Maurya Delhi, ITC Maratha Mumbai, and Fort Radisson of Radisson Group in Kolkata, Radisson Jass Hotel Shimla, The Taj Westend, Bangalore, Taj Coromandel, Chennai. The major cities like Bangalore, Hyderabad, Chennai, Gurgaon, Pune and the suburbs of Mumbai are the areas most attractive for the international investment and as expected these are the cities with the largest development pipelines. Combined these cities account for 89 of the 161 projects in the pipeline and 16,734 guestrooms, which is 68% of the rooms in India's total pipeline[footnoteRef:6]. [6: http://www.hotel-online.com/News/PR2006_4th/Oct06_AsiaPipeline.html]

Employment Opportunities

Career's diversity of experience in hotel management is greater than in any other profession. The Hotel industry involves combination of various skills sets like management, food and beverage service, housekeeping, front office operation, sales and marketing, accounting. The rise in corporate activity today like travelling for business and even a holiday has made the hotel industry a very competitive one.

Eligibility: One can pursue his/ her career in this field by direct entry or through hotel management institutes. For directly getting into the companies the vacancies are generally advertised in the newspapers and the minimum prescribed qualification is graduation with 50% marks[footnoteRef:7]. [7: http://acmeprofessionalsindia.com/industry-focus/hotel-industry/]

Career Options

There are innumerable openings in hotel management career like the following:

Hospitality Executives

Kitchen Management

House and Institutional Catering Supervisors/Assistants

Faculty in Hotel Management/Food Craft Institutes

Cabin Crew in National and International Airlines

Catering Officers in Cruise lines/Ships

Marketing/Sales Executives in Hotel/Multinational Companies

Customer Service Executives in Banking /Insurance and other Service Sectors

Managers/Supervisors in Tourism Development Corporations

Entrepreneurship opportunities

Background

Compensation and Benefit Scenario in hotel Industry

Defining Total Compensation

It is important to note the many different terms used for total compensation because it encompasses more than just monetary payment for work. Total compensation or compensation is the total of all rewards provided employees in return for their services (Mondy, 2008)

Total Compensation is the combination of four core elements: pay, benefits, financial incentives, and non-financial compensation. It has also been termed total pay (Zingheim and Schuster, 2008), compensation package (Sturman, 2001) and direct and indirect compensation (Namasivayam, Miao, & Zhao, 2006; Heneman & Schwab, 1985).

Namasivayam et al. (2006) noted that compensation satisfaction varies depending on employee position, manager or hourly employee. Total compensation satisfaction must be evaluated for each level of the organization. They concluded that the hospitality industry relies on hourly employees to deliver guest satisfaction, so hotels must understand what motivates these employees. Sturman (2001) felt that the hospitality was losing quality employees because their compensation for high-level jobs was not competitive. He suggested the employers should not just compare compensation levels of other hotels but must consider the employees education, training, and experience. Sturman does counter the adage that hotels cannot afford to pay higher wages. He argues that since the hospitality industry relies on employees to deliver quality service in order to obtain higher revenues, then attracting and retaining the best talent through better compensation practices would benefit employers.

Pay

Pay refers to base wages or salary for work (Kline and Hsieh, 2007). They described two important factors when considering pay, the job description and the importance of the job within the company. When considering pay, they also emphasized market data must also be considered when factoring pay. Guthrie (2000) defines pay or wages that are attached to the jobs that employees perform. Employee position and length of employment were traditionally what determined wages in most companies. Employees would receive annual merit increase. Guthrie felt that the employees skill and job knowledge needed to factor in to pay. Guthries study suggested that companies should invest in human capital in order to reduce turnover. He recommended that increased pay should occur when an employee gained job specific certification. This personbased system meant that the overall company was stronger because its employee based was multi-talented and much more flexible in job abilities. Guthrie also concluded that this system. encouraged and rewarded employees for gaining more in depth knowledge in their jobs and reduced turnover. Since companies are investing in their employees, there is an expected rate of return. Employers might fear that their investment might leave the hotel. Guthrie felt that if the certification and pay were company specific then employees would realize that they were not only valued in their job but that other companies would not give them similar pay in the same jobs.

Benefits

Heneman and Schwab (1985) defined benefits as indirect pay or payment for time not worked such as health care, retirement account, and insurance. They remarked that traditionally companies viewed the value of benefits separate from pay. The study concluded that benefits and pay must be viewed together otherwise; employees would be dissatisfied with their total compensation. Their study also found that most employees did not differentiate between pay and benefits. Employees expected them both to come with the job. They commented that there were not many studies on pay and benefits. Most studies they found only focused on pay satisfaction. Williams, McDaniel, and Ford (2007) similarly concluded that many employees considered benefits as an integral part of their compensation package or saw them as entitlements. Their study on benefits focused on age and job satisfaction. They found that older, more educated workers were more likely to be in higher positions in the organization, thus having higher wages and benefits. These employees had higher expectations of being treated fairly and could have lower job satisfaction when they felt they were not treated fairly. They recommended that companies look at increasing benefits if they could not increase pay in order to increase job satisfaction.

Namasivayam et al. (2007) advised that if benefits are offered to the managerial employees, they should be offered to all employees. They found that non-managerial employees were highly motivated by benefits. They even recommended that in order to increase job satisfaction and retention with part time workers, that companies should provide benefits. Popkin (2005) found that vacation leave was the most common form of benefits and pension plans were the least common in companies of all sizes. The study also found that younger organization also offered fewer benefits then more established companies. Due to the higher costs for smaller businesses, this Small Business Association study recommended that the government should allow small businesses more access to pool their resources together, so they could obtain less expensive benefits.

Financial incentives

Financial incentives are defined as variable pay (Zingheim and Schuster, 2008). Some examples of financial incentives are pay for performance, bonuses, commissions, profit sharing and gain-sharing (Guthrie, 2000). They generally apply to managers. Moncarz, Zhao, and Kay (2008) concluded that hotels could reduce turnover if they gave incentive pay to non-managerial employees. Moncarz et al. (2008) felt that hotels could have higher employee retention rates if they offered financial incentives. Sturman (2005) researched if financial incentives influenced employee performance. He found that bonus appeared to be the most effective financial incentive. He used three different theories to describe why employees were influenced by financial incentives: economic theory, equity theory, and expectancy theory. In economic theory, Sturman theorized that employees worked harder to be paid more. In his equity theory, Sturman explained that employees reacted and changed their performance with the understanding of an increase in rewards. Lastly, Sturman describes expectancy theory as when employees understand that as their performance increases their performance ratings increase, which can then lead to higher financial incentives. Sturman concluded that though companies must analyze the costs associated with providing financial incentives, financial incentives vary from year to year and are not a permanent wage like a merit increase. If companies want to maintain or increase employee satisfaction but do not want to increase base pay, they should consider financial incentives.

Non-financial compensation

According to Moody (2008), non-financial compensation is defined as satisfaction that a person receives from the job itself or from the psychological and/or physical environment in which the person works. Under Moodys definition, this would include congenial co-workers or positive feedback. It should be noted that non-financial compensation could cost companies money. Patton (2009) added that other non-financial compensation rewards could include an employee recognition program or training and development opportunities. Something as simple as a verbal attaboy would be considered non-financial compensation according to Tahmincioglu (2004). Walsh and Taylor (2007) stressed that the key to retaining hospitality professionals was to develop them with in-house training programs and to offer growth opportunities. Their study found that managers wanted challenging jobs that were interesting, allowed them to be involved in decision-making, and provided them with opportunities to develop new skills. They concluded that for younger managers, total compensation was important. Lack of opportunity caused turnover. Chen and Choi (2008) conducted research on hospitality managers to find out if there were generational differences in work value. They concluded that while there are some differences in work value among all three generations surveyed, (Baby Boomers, Generation X, and Millennials) supervisory relationship, achievement, and way of life were the most valued. Their study detailed how employers must look at different non-financial ways to motivate employees in order to retain them.

Recommendations by various studies on hotel industry compensation

Objective

Based on the study of related research findings, this project attempts to explore the following in Indian context:

To study the pay/compensation & benefits/rewards policies and practices prevailing in hotel industry in the Indian context.

Methodology

The type of research that was used in this study was qualitative. Qualitative research aimed to gather an in-depth understanding of compensation and benefits management in hotel industry in India.

Various research papers were referred to, in order to understand the work that has been done in this field so far. Online articles and blogs were also referred to understand the current scenario. Articles, web journals, research papers, case studies were also referred.

On the basis of findings, suggestions were offered and the conclusion was drawn.

Presentation of Data and Analysis

Government Initiative

The Government of India and the Ministry of Tourism have contributed significantly to the growth and development of the industry by providing various policy measures, tax incentives and infrastructural support such as[footnoteRef:8]: [8: http://www.google.com/url?q=http%3A%2F%2Finfo.shine.com%2Findustry%2Fhotels-hospitality%2F12.html&sa=D&sntz=1&usg=AFQjCNHPpphtbCP8WKZSl7WQoUo0_xh8jQ]

Promotion of rural tourism by Ministry of Tourism in collaboration with the United Nations Development Programme

Availability of Medical Visa for tourists coming into the country for medical treatment

100 percent FDI allowed through automatic route in hotel and tourism sector

Insurance of visa on arrival for tourists from select countries like Finland, Japan and New Zealand

Capital subsidy programmes for budget hotels

Elimination of customs duty for import of raw materials, equipment, liquor etc.

Five-year income tax holidays for 2-4 star hotels established in specified districts having UNESCO-declared 'World Heritage Sites'

Average salary for Hotel Industry in India

Taj Hotels

Employees Benefits

These needs are the basic needs of food, clothing, shelter, etc., which have to be fulfilled by an individual. An individual will be able to fulfill these needs only if he has adequate money with him. Taj helps to satisfy these needs in the following ways: - Taj provides employment to more than 1,500 people (including people employed on permanent and temporary basis) and gives them a good pay depending upon their post. Most of the employees working in TAJ come from different parts of the country and find it difficult and expensive to get accommodation, TAJ provides them with housing facilities by just deducting a small amount from their salary. The houses provided are decently sized and well maintained and also differ from post to post. Taj also provides uniform (blazers) to all its employees.

They are given a new set of uniform every six months. Since the employees have a shift of 8 hours a day, Taj also provides them with meals depending upon which shifts they work on. The quality of the food is equivalent to the food provided to the guests. In case of job security an employees job is not secured for the first year. However if the management is satisfied with his job, an employees job might be secured even before he completes 12 months.

In case of a trainee there is no job security provided. But if the management is satisfied with his job they might offer him a job in their hotel. In case of physical security they provide them with benefits like medical insurance, life insurance at the discretion of the employee. This is because to avail these facilities a minimum pay is deducted from their salary.

The employees are allowed to have their meals in groups, for example if there are ten people working on a shift there may be groups of 4 who lunch at one given time. This helps them to form informal groups. However these informal groups are made amongst the employees of the same level. In Taj there is also an annual social gathering where all the employees from the top to the bottom are invited. Also each and every employee is given a gift when they leave, and the gift differs from post to post.

PROMOTION:-In Taj, promotion is strictly given on the basis of merit. Here the things like experience and influence doesnt come into account. If one is capable then he will be promoted.

RECOGNITION: - Employees are considered important in Taj, and are recognized for their job. In case, if an employees performance is exceptionally good in the past year he is awarded a certificate along with some cash incentives. Also if an employee has given long years of service he is given a momentum from Taj.

In March 2001, the Taj Grouplaunched an employee recognition program called the 'Special Thanks and Recognition System' (STARS). STARS was an initiative aimed at motivating and recognizing the high performer employees. This program also acknowledged and rewarded hard working employees who had done excellent work.

The Taj Group had always believed that their employees were their greatest assets and the very reason for the survival of their business. In 2000, to show its commitment to and belief in employees, the Taj Group developed the 'Taj People Philosophy' (TPP), which covered all the people practices of the group. TPP considered every aspect of employees' organizational career planning, right from their induction into the company till their superannuation. TPP offered many benefits to the Taj Group. It helped the company boost the morale of its employees and improve service standards, which in turn resulted in repeat customers for many hotels in the group. The STAR system also led to global recognition of the Taj Group of hotels in 2002 when the group bagged the 'Hermes Award' for 'Best Innovation in Human Resources' in the global hospitality industry.

Salary range for TAJ hotel

The Taj Group of Hotels

Designation

Salary Range

Duty Manager

Basic Salary - INR 1.8 lakh - INR 4.5 lakh per yearBonus-INR 2,000 - INR 58,000 per yearTotal Salary - INR 2 lakh - INR 5 lakh per year

General Manager

Basic Salary - INR 3 lakh - INR 20 lakh per yearBonus-INR 10,000 - INR 5 lakh per yearTotal Salary - INR 3.1 lakh - INR 25 lakh per year

Executive Chef

Basic Salary - INR 2.6 lakh - INR 20 lakh per yearBonus-INR 3,000 - INR 2.25 lakh per yearTotal Salary - INR 2.63 lakh - INR 22.25 lakh per year

Restaurant Manager

Basic Salary - INR 1.75 lakh - INR 6 lakh per yearBonus-INR 4,000 - INR 1 lakh per yearTotal Salary - INR 1.80 lakh - INR 7 lakh per year

The Oberoi group of hotels

The Oberoi Group takes pride in having the best service professionals in the industry. We

know that it has taken dedication and hard work from our employees to make our company

what it is today. Through the year we stimulate and rewards exceptional performance that

best exemplifies great service.

Some of the ways in which we reward our employees to make them aware of what their

efforts and commitment mean to the company are:

Outstanding Performance Awards

Employee in spotlight

Peer Recognition Program

Star of the month

Champion Program

Roll of honor

WOW Awards

Payscale for Oberoi group of Hotels

Wage & Salary Administration In Oberoi Hotels

1. Wage survey, wage plans and job evaluation are the three important methods used for this purpose

2. The aim of a wage and salary policy is to recognize the value of each job, provide stability in earning, allow individuals to reach full earning potential and to ensure that all staff share in the organizations prosperity

3. Fixing the compensations levels taking into consideration various factors like experience, identical industry knowledge, qualifications and proven skills.

System to achieve the objectives

a. Job Evaluation

It includes selecting suitable job evaluation techniques, classifying jobs into various categories and determining relative value of jobs in various categories

b. Wage, Benefits and Salary Range

Each job grade will be assigned a salary range

b.1. As Manager The median expected salary for a typical Hotel Manager in the Oberoi Hotels is $95,156

b.2. As a STEP Trainee A starting stipend of Rs 3,500 in Year 1, which increases in subsequent years 3 weeks of study leave and 3 weeks of home leave coverage under the hotel medical scheme a monthly telephone allowance shared hostel accommodation with security pick-up and drop when safe local transport is not available and meals as required

c. Wage and Salary Adjustments Overall salary grades of the organization may be adjusted based on the data and information collected about the salary levels of similar organizations Wages Policy

4. Principles of Wage and Salary Administration

Wage and salary plans and policies should be sufficiently flexible - Mar 18, 2008: HC asks Oberoi Hotel to pay Rs 60,000 to former employee (Source: The Economics Times)

Wage and salary administration plans must always be consistent with overall organizational plans and program - The Oberoi group of hotels as operated in 5 Countries, the salary structure is almost similar

Wage and salary administration plans and programs should be in conformity with the social and economic objectives of the country like attainment of equality in income distribution and controlling inflationary trends

Challenges faced in Wage and Salary administration

Employee Participation and Pay secrecy are the most important factors. Other than that

Skill Based Pay: Skillbased pay (SBP) is a compensation system that rewards employees with additional pay in exchange for formal certification of the employees mastery of skills, knowledge, and/or competencies. Skill is acquired and observable expertise in performing tasks. Knowledge is acquired information used in performing tasks. Competencies are more general skills or traits needed to perform tasks, often in multiple jobs or roles. In SBP systems, employees receive additional pay only after they demonstrate the skills, knowledge, and/or competencies that the system rewards. Thus, SBP is a personbased system, because it is based on the characteristics of the person rather than the job. In more common jobbased pay systems, pay is based on the job, which employees are entitled to receive even if they are not proficient in their position

Comparable Worth: Comparable worth systems seek to compensate jobs held primarily by women or men more equitably by comparing the educational and skill requirements, task activities, and responsibility in different jobs, and attempting to compensate each job in relation to such factors rather than the traditional pay history of the jobs.

Salary review: Many organizations want to reward top performers with more money and non-performers with little or no money. Creating this pay-for-performance culture requires that employee performance intersects with the salary review process.The key to making the salary review process effective, once the performance review piece is completed, is to compare this performance rating with the employees relative placement in the external market. Once done , one can create a compensation matrix to be used within your organization as a guide for merit increases that is considerate of performance and external market conditions. This compensation matrix will provide a framework for your managers to follow, but allow some discretion on their part for the actual increases.

TAJ and Oberoi Comparative trends

Y-O-Y Trends in Indian Hotel Industry (Position wise)

This basically shows that as the economy is opening up with government interventions and acceptance of FDI even in the hospitality industry (hotels) signifies more and more investment in the sector leading to increase in the tourism. This consequently has lead to the increase in the compensation packages of the employees of Hotels.

For example in case of remuneration of the general manager the difference between the lowest and the highest salary is considerable high as done in comparison year wise i.e. 2011 and 2013. The figures are even higher for the year 2014.

Observations

Factors influencing wage and salary administration

Apart from various pertinent factors like

The prevailing market rate ,

Job requirements

Psychological and sociological factors

Levels of skills available in the market

Other factors (especially in hotel Industry influence compensation administration) , such as

The organizations ability to pay - Labour unions have often demanded an increase in wages on the basis that the firm is prosperous and able to pay. However, the fundamental determinants of the wage rate for the individual firm emanate for supply and demand. If the firm is marginal and cannot afford to pay competitive rates, its employees will generally leave it for better paying jobs. However, this adjustment is neither immediate nor perfect because of problems of labour immobility and lack of perfect knowledge of alternatives. If the firm is highly successful, there is little need to pay for more than the competitive rates to obtain personnel.

Living wage - Another important factor affecting the wage is the cost of living adjustments of wages. This approach tends to vary money wage depending upon the variations in the cost of living index following rise or fall in the general price level and consumer price index. It is an essential ingredient of long term labour contracts unless provision is made to reopen the wage clause periodically.There are measurement problems both in ascertaining productivity and cost of living increases. This problem may lead to lack of understanding and unanimity on the part of the management and the workers

Trade unions bargaining power -The labour unions attempt to work and influence the wages primarily by regulating or affecting the supply of labour. The unions exert their influence for a higher wage and allowances through collective bargaining with the representatives of the management.If they fail in their attempt to raise the wage and other allowances through collective bargaining, they resort to strike and other methods where by the supply of labour is restricted. This exerts a kind of influence on the employees to concerned test partially the demands of the labour unions.

Supply and demand of labor - As stated earlier, the wage is a price for the services rendered by a worker or employee. The firm desires these services, and it must pay a price that will bring forth the supply, which is controlled by the individual worker or by a group of workers acting together through their unions. The practical result of the operation of this law of supply and demand is the creation of going- wage rate.

It is not practicable to draw demand and supply curves for each job in an organisation even though, theoretically, a separate curve exists for each job. But, in general, if anything works to decrease the supply of labour such as restriction by a particular labour union, there will be a tendency to increase the wage. The reverse of each situation is likely to result in a decrease in employee wage, provided other factors, such is those discussed below, do not intervene.

Conclusion

Hotels must realize that satisfied human resource is a valuable asset for the organization. An organization pay must be competitive and equitable. This will not only ensure the cooperation of their managerial and non-managerial personnel but also reduce the percentage of labor turn-out besides maintaining industrial peace. If an organization fails to do so, it attracts criticism from social reformers and trade unions. Therefore the business organization must develop a balanced package of wage and salary administration in a most appropriate and effective manner.

Total compensation satisfaction can lead to increased profits because motivated managers and employees help to increase hotel sales, customer satisfaction, and overall condition and cleanliness of the hotel. Inequitable total compensation can create turnover, which costs hotels money not only in recruitment and replacement costs but also in lost business while the position is vacant.

A well-trained manager or employee can take several years to develop and to be successful in their position. In order for hotel owners to recruit well-trained and successful managers and employees, they must have competitive total compensation packages in place. when creating a compensation plan, hospitality companies must make sure their total compensation package is competitive not only within the industry but also within other industries that hospitality companies compete for employees. Employees will be able to compare compensation on their own. In order to hire the most qualified employees, companies must do their homework first. Compensation planning does not end once an employee is hired or quits. Every year, the hotel should re-evaluate their compensation plan. Compensation planning is not easy. It can at times be quite complicated to determine true turnover costs and to gauge employee satisfaction. Compensation planning must be conducted as often as hotels conduct revenue meetings or sales and marketing plans.

References

Carroll, W.J. & Sturman, M.C. (2009). The job compatibility index: A new approach to defining the hospitality labor market. Cornell Hospitality Report, (9)1.

Chen, P. & Choi, Y. (2008). Generational differences in work values: A study of hospitality management. International Journal of Contemporary Hospitality Management, 20(6), 595-615.

Namasivayam, K., Miao, L., & Zhao, X. (2006). An investigation of the relationship between compensation practices and firm performance in the us hotel industry. International Journal of Hospitality Management, 26, 574-587.

Salary.com. (2009). Job satisfaction and retention in a challenging economy. Salary.com. Retrieved on January 28, 2009, from http://solutions.salary.com/jobsatisfaction2009/

Sturman, M.C. (2001). The compensation conundrum: Does the hospitality industry shortchange its employees and itself? The Cornell Hotel and Restaurant Administration Quarterly, 47, 70-76.

Tracey, J.B. & Hinkin, T. R. (2006). The costs of employee turnover: When the devil is in the details. Cornell Hospitality Report, 6(15), 1-13.

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