In a riveting and telling statistic, 39% of surveyed employers – almost half – forecast a skills shortage in securing top-tier venue managers over the next 12 months, according to the 2013/14 Michael Page Australia Salary & Employment Forecast’s Hospitality and Leisure Report.
It’s difficult to pinpoint exactly why first-class, senior venue managers are in such short supply.
It’s possible that business owners are raising the bar and demanding much more from their venue leaders because the role of venue manager is all-encompassing and the hospitality and leisure industry has become increasingly competitive.
What Makes A Venue Manager Truly Special?
The best venue managers should show:
- Solid technical expertise and knowledge
- Strong financial and operational management experience
- Inspiring and influential leadership skills
- The ability to engage local businesses and community groups to proactively drive the top line through increased promotional activity, functions and events.
I’ve Found You. How Do I Keep You?
For those fortunate enough to find talented venue managers, retention becomes the overwhelming challenge.
A reported 66% of employers expect staff turnover among venue managers over the next 12 months, according to survey findings. Two thirds of the industry job market is a lot of new talent to find.
The life span of a venue manager in one role is short: typically, the most talented operators will progress very quickly into larger and higher-profile venues, before taking on multi-site opportunities within the industry.
Survey results show:
- 33% of venue managers are leaving their current role to broaden their experience and opportunity to learn
- 27% of venue managers are likely to leave and find a new job purely to gain more seniority.
Long-Term Relationships Take Work
So how do businesses attract and retain the best venue managers? Consider strategies like:
- Finding venue managers through networks, whether that’s through personal, peer or specialist recruitment networks, as top-tier talent is quickly recognised and word of mouth can be the greatest indicator
- Exploring part-ownership options, particularly in businesses where accelerated career progression is either limited or non-existent
- Awarding staff with a bonus as part of the remuneration package – a strategy that 55% of owners and managers are already rolling out, survey findings show
- Being prepared to offer a top salary for top talent, as simple economics dictates that a short supply of candidates is going to place upwards pressure on pay
- Making sure you have a strong company culture to attract the best venue managers, which more than half of survey respondents (52%) vouch for, mainly because the social nature and long hours of the industry mean you really need to enjoy work to stick it out.
Your return on investment in successfully attracting and retaining a top-tier venue manager can be significant. Investing time and money into securing the right person for your business is going to come back in increased profitability and staff retention. So look after this valued employee, and the benefits to you in this transaction will be achievable and sustainable.
For assistance with your hospitality and leisure job search or hiring requirements, please contact us today to speak to one of our specialist consultants.