Contemporary Issues in the Labor Market: The Case of the Hospitality Industry

 
Executive summary
This report is based on contemporary issues in the hospitality industry which are affecting the labor market. The report analyses three issues out of the many affecting the industry. These include labor shortages, diversity and inclusion, and low wages. The report also offers recommendations to organizations in the industry based on diversity management, leadership, and training and development.

Introduction
The hospitality industry is a large and growing sector in the world and a contributor to the growth of various economies. According to Statista Research Department (2021a), as of 2020, the global hospitality industry market grew by 3486.77 billion USD. Leading organizations in this industry and significant contributors to its growth are Hilton Hotels, Marriot Hotels, Holiday Inn, and Hyatt Hotels (Statista Research Department, 2021a). The sector has organizations operating in the capacity of hotels, lodgings, restaurants, and other organizations offering food and accommodation. However, this industry has faced some contemporary issues in the recent past, affecting its operations and determining the progression of performance. Such problems are also direct aspects such as sustainability and profitability for organizations in the industry.

Literature review