Hotel Revenue Management Incentives Practice Research Report
A study on incentive compensation design for revenue management professionals.(0)
Member Price: $0.00
Non-Member Price: $795.00
Hotel revenue management teams are accountable for optimizing demand for their properties. But this new study uncovers significant employee dissatisfaction with the current state of incentive compensation plans. This, in turn, poses important risks for a hotel's revenue management talent retention, motivation and overall employee engagement.
That's the conclusion of the Hotel Revenue Management Incentive Practices Research Study by global sales and marketing consultancy ZS and the Hospitality Sales and Marketing Association International (HSMAI) Foundation. In this study of incentive compensation design - the first of its kind for the hotel industry - ZS surveyed HSMAI members in revenue management within the U.S. and Canada. The goal was to better understand the structure of incentive plans today and highlight opportunities for improvement.
In their study of more than 300 incentive plans, ZS and the HSMAI Foundation identified the most common plan structures, metrics and plan administration approaches. They isolated common areas that impact incentive compensation plan satisfaction: overall compensation levels, goal-setting effectiveness and differential pay for low and high performers
topped the list as the biggest drivers. Higher total pay levels are one opportunity, but others exist that don't require much, if any, incremental investment.
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