What is Exchange Relationship

The fact that new employment relations, which emerge as a result of changing market conditions, have a much higher level of instability, uncertainty, and variability than the traditional employment necessitated the reshaping of the content of the psychological contract according to the needs of the modern world. The concept of employability that emerges in this direction is of importance both in meeting the flexibility required by the industry and in increasing the professional commitment of employees and reducing the perception of job insecurity, especially in the tourism industry which has a fragile and sensitive structure. In this context, the chapter focuses on the theoretical content and necessity of the orientation from the “old psychological contract” to the “employability” paradigm. The information gathered in this context constitutes a source for emphasizing the importance of employability in the development of professional competence and professional commitment in the tourism industry.