Vantage Circle
JUNE 9, 2023
You can establish what a ‘competitive’ salary is through a process called ‘salary benchmarking’ Let’s take a look at what salary benchmarking is and how you can use it to bring the best of the best to your business. What is Salary Benchmarking? How to do Salary Benchmarking 1.
Chief Executive
MARCH 1, 2023
A more traditionally structured corporation will have an easier time implementing this approach compared to the hospitality, medical or construction industries, where services can be required at all hours. Reflect upon the nuances of your industry. Determine how you’ll measure success Identify your business goals and how you’ll measure them.
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Chief Executive
SEPTEMBER 14, 2022
Cathy says that whether you want to be a world-class orchestra or a world-class business, you need to benchmark against other world-class organizations, even when they don’t serve the same market as you. These include: • Where Cathy often looks to find the most creative thinking and innovation (hint: it’s not the hospitality industry). •
Walk Me
AUGUST 18, 2022
And then your organization must compete for patients against larger neighboring hospitals, often with more significant financial resources. Operational budgets involve the expenses of the day-to-day running of a hospital or clinic. For example, a small hospital may lose revenue to a neighboring hospital with several MRI scanners.
AIHR
JULY 30, 2024
Conley proved the effectiveness of his approach by saving his company, Joie de Vivre Hospitality, from financial ruin following the dot.com bust. Step 3: Benchmark your model Pay attention to what leading companies are doing right by benchmarking your chosen model against theirs.
AIHR
SEPTEMBER 27, 2023
Decide on the PTO amount Base this decision on industry benchmarks and your company’s capacity to accommodate leaves. For example, in a high-turnover industry like hospitality, offering 75% payment for unused PTO days might reduce abrupt resignations.
Zenefits
JUNE 13, 2022
Limiting networks: 30% of employers plan to limit in-network doctors and hospitals. It’s much better to do competitive benchmarking in your industry and location. A good place to start is with the Zenefits Benefits Benchmark Report. Other companies are adding surcharges for smokers.
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