Travel Industry Consolidation and Restructure: What does this mean for senior professionals?
Integrations have their challenges; from systems, strategies, branding, operational changes, travel companies will always face these after an acquisition. A number of companies going through restructuring will make their teams leaner and more efficient. Great for business, but what of your employees? Recently, there has been a flood in the market of candidates being let go because when it boils down to it, it’s just not necessary to double up on teams in mergers, or have large numbers in the team itself. So what challenges do senior professionals face in this industry?
With the lack of movement in the top ranks of the organisation, it will inevitably be harder to find a that particular role that someone else isn’t already doing. Focusing on one type of role narrows your search further, and will restrict your chances of finding the right company for you. You may have been a hotel veteran for 20 years, but can you certainly transfer your skills to other industries; airlines, retail, consumer goods, technology. Getting out of your comfort zone will be challenging but most rewarding, not only for you but also a fresh new perspective for the hiring company as well. In addition to this, applying for a different role may give you a higher chance to interview with the hiring managers, not only to find out the scope of the role, but also to ask whether you would best be placed in other teams as well.
Perhaps, the next step up in your career in your current company will have you move from the regional office to their headquarters in another country. More so now than ever, senior professionals need to be more flexible and agile with finding the right role for them and traveling becomes a huge part of that. Deciding on relocation is a big decision, especially if you are moving your whole family or have ties to a certain area. When considering an opportunity, location should still be one of the last factors, as you don’t want to miss out on the role of a lifetime.
Don’t get bogged down by titles. If, for example, you were looking for your next role to have senior executive exposure, but must have a VP or SVP title…. This is not the best way to go about your search. To exclude yourself from other titles, again reduces your chances of finding an opportunity that will suit you. Finding out as much information as possible from the hiring manager, whether a global or national remit, your team size, strategic transformational projects you’ll be involved with, will be valuable information to evaluating the opportunity.
Travel professionals must now broaden their horizons. There certainly aren’t a lack of jobs in the market, but the demand of new roles with new skills skyrockets. Some senior professionals already established in their career might not think it wouldn’t be for them. And that is certainly not the case. Travel is about change, and so must its professionals.