Hellenic Open University Conferences, International Conference on Business & Economics of the Hellenic Open University 2015

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The Impact of the Economic Crisis on HRM among Five-Star Hotels in Greece
Vassiliki Staikou, Dimitrios Stergiou

Building: Titania
Room: Omiros
Date: 2015-02-07 04:00 PM – 06:00 PM
Last modified: 2015-01-27

Abstract


This research study examines the impact of the current economic crisis in Greece on human resource management (HRM) practices among five-star hotels in the city of Athens. For the purpose of this case qualitative data were obtained from five hotels, using semi-structured interviews with HR managers. Findings from these interviews indicate that the investigated hotels have reduced their employment level and expenditures in order to absorb the shock of the economic crisis. Paradoxically, however, the chaos of the uncertainty imposed by the crisis allowed the re-establishment of the strategic importance of HRM in each organization and strengthened its status as the key in their survival.


Keywords


Human Resource Management; Economic Crisis, Greece, Hotels