Human Talent Management and its Impact on Organizational Performance of Tourism MSMEs in Latin America

Abstract

Human talent management poses challenges and effects on organizational performance in tourism-related micro, small, and medium-sized enterprises (MSMEs), which are in an intricate position since they are a cluster of firms working within the same environment. The activities of other companies can influence the decisions of a single company. In this sense, human resource management is key to the development and competitiveness of tourism MSMEs in Latin America. This study was done to examine how human talent management has had an impact on the organizational outcomes of these companies in 2019. The methodology used was a quantitative, explanatory, and cross-sectional one, with a sample of 850 directors. Inclusion criteria were: business administrators of five Latin American countries: Mexico, Peru, Argentina, Ecuador, and Colombia, who signed informed consent. The administrators were professionals in the field of tourism, aged 26-60 years. Other Latin American tourism administrators were left out as the exclusion criteria. Validated surveys and statistical analysis were employed in this study, and carried out in SPSS and AMOS. The results show that 40% of the companies have favorable human resources management, although only 20% achieve high organizational results. Human talent management has an effect on the performance of the tourism MSMEs in Latin America. Measurement, result of the model: M1 = 1.000.  The structural model established that the management of human talent contributes a lot to business satisfaction, competitive advantage, and sales performance. It is concluded that enhancing the selection, training, and motivation of staff is the key to enhancing the performance of tourism MSMEs in the region.