employee compensation
CEO Pay in Hospitality 2024
AETHOS | September 3, 2024
With the pandemic largely in the rearview mirror, the last twelve months have been about interest rates, less transactions, and wild presidential election cycles worldwide. The hotel industry will be impacted in significant ways as these issues unfold. On the other hand, operational fundamentals have been strong, contributing to CEO pay marching upward. Average CEO pay in the industry rose to USD $9.8M, from the previous year’s $9.5M. Most of this increase came in the form of short-term incentive pay, making the correlation between stronger operating fundamentals and CEO pay. Interestingly, “other compensation” also increased indicat...
Crafting a Unique Employer Brand for Today’s Talent Market
Veronika Mercier | August 14, 2024
By Veronika Mercier In today’s competitive job market, employer branding has become an essential strategy for attracting and retaining top talent. However, many managers still don’t know what exactly constitutes a strong employer brand. Is it down to company culture, work-life balance, benefits and compensation, or is there some other secret sauce that makes an employer desirable? To find out what makes an employer brand truly effective, we consulted with industry experts and entrepreneurs who have devised proven strategies for creating a unique and strong employer brand. From their experience and diverse roles in renowned companies...
New Labor Challenges Arise in 2023
Robert Mandelbaum | June 6, 2024
By Robert Mandelbaum, Andrea Grigg The scarcity of employees has long been the primary labor concern for U.S. hoteliers, even before the onset of the COVD-19 pandemic. Historically, jobs in the lodging industry have had a negative perception as being too physically demanding, requiring too long of hours, and requiring work on weekends and holidays. The shortage of personnel was exaggerated during 2021 and 2022 as many of the employees that were laid off during the pandemic in 2020 opted not to return to the industry. The difficulty of attracting workers to fill line-level positions within hotels lessened somewhat in 2023. Reductions in ...
Putting People First: Business Success With a Human-Centric Approach
EHL Graduate School | May 13, 2024
It's no secret that many employees feel unappreciated and undervalued in today’s workforce. Competition for good jobs is fierce, AI will replace some jobs in the coming years, and the size and complexity of some businesses makes some employees feel insignificant. Embracing a "people-first culture" has become vital as modern talent won't hesitate to seek better benefits and flexibility elsewhere. What is a people-first culture? Organizations must adopt a human-centric approach to workforce management to counteract today’s uncomfortable, and sometimes even toxic, employment landscape. Many studies show that humanizing the workplace improv...
Proposed DOL Overtime Changes Would Harm Hotels, Hurt Workers
AHLA | August 31, 2023
WASHINGTON (Aug. 31, 2023) – American Hotel & Lodging Association (AHLA) President & CEO Chip Rogers is speaking out today after the Department of Labor (DOL) issued a proposal to increase the minimum salary threshold for employees to qualify as salaried executive, administrative, and professional employees (and therefore exempt from overtime pay requirements) under the Fair Labor Standards Act (FLSA). The proposal also would automatically update the threshold every three years. This would be the second increase imposed by DOL in less than 5 years. Employees who fail to qualify for the FLSA’s “white collar” exemption mu...
6 Great Ways to Reduce Absenteeism and Turnover Rates in the Workplace
Dr. Bertrand Audrin | August 21, 2023
By Dr. Bertrand Audrin Absenteeism and high turnover rates are two of the most common difficulties that leaders are facing in today’s tricky employment market where employees are leaving their jobs more frequently and feeling less committed than ever before. While these phenomena are affecting all industries, the services industry is particularly hard hit. Challenges in the hospitality industry The hospitality industry experiences significant employee turnover and absenteeism, having historically had one of the highest turnover rates among private sectors, even prior to the pandemic. These factors pose a substantial financial burden ...
Hard Rock International and Seminole Gaming Surprise U.S. Workforce With Substantial Wage Increases Nationwide
Seminole Gaming | September 20, 2022
HOLLYWOOD, Fla., Sept. 20, 2022 — Hard Rock International and Seminole Gaming today announced wage increases for half its U.S. workforce. The increases apply to U.S. team members and new hires at company managed Hotel, Casino and Cafe locations nationwide. 95 job classifications, including cooks, housekeepers, security, public space, call center and many more are among the greatest impacted. In some cases, starting wages are increasing by over 60 percent. The new starting wages range between $18 and $21 an hour, with minimal exceptions – more than 2.5 times the Federal minimum wage and exceeding each U.S. state minimum wage. ...
youtip to Host ‘Catch Cash for a Cause’ to Support HFTP Foundation at HITEC Orlando
youtip | June 21, 2022
2nd Annual Digital Donation Drive to feature Cash Grab Money Booth; Proceeds donated to the HFTP Foundation via the youtip digital tipping platform Chicago — June 21, 2022 — Next week at HITEC Orlando in youtip Booth 2007, attendees will have the opportunity to “Catch Cash for a Cause” with all proceeds donated to the HFTP® Foundation (the philanthropic arm of Hospitality Financial and Technology Professionals that helps secure nonprofit funding for hospitality and travel industry-related research, educational projects, and scholarships). As part of its 2nd Annual Digital Donation Drive, youtip will enable participants to catc...
