Rewarding Employee Longevity without Breaking the Bank

By Joyce Gioia CEO, Employer of Choice International, Inc. | February 12, 2012

Though the hospitality industry is clearly in recovery, recent surveys indicate that frequent fliers' spending on airline tickets to enjoy increased comfort has not been matched by their spending on lodging. People expect that after they have been with a property for a period of time that their compensation will increase. However, hoteliers don't always have the extra funds to reward their valued employees with the longevity increases that they want and often expect. What can you do to insure that you minimize your high cost of employee turnover, including training, recruiting and onboarding expenses? Not to mention the high cost of rebuilding the institutional memory that often takes years.

Non-Financial vs. Financial

While it seems an easy solution to throw money at people, that tactic is seldom as effective as investing the time and effort to demonstrate your appreciation in a myriad of ways that will cost very little, if anything. Reaching out to your employees and showing them that you really care will go a long way towards helping you retain your employees without spending funds you may not have in your budget.
Moreover, there are numerous additional non-financial rewards that hoteliers around the world have found to be effective.

Non-Financial Rewards

premium parking. Some non-urban properties set aside a parking place just past the handicapped spots for their employees with over 20 years of service. If there are multiple employees with this longevity, the long-tenured employees rotate who get the spot.

meal with the boss. Another no-cost benefit that has worked elsewhere is breakfast or lunch with the general manager. Wise hotel executives use this valuable time not only to engage their employees, but also to conduct their own intelligence gathering about what's working and what's not. This informal opportunity offers a prime time to discover areas for improvement that won't cost you much, but may make a huge difference in the work lives of your employees.

Choose a Social Network!

The social network you are looking for is not available.

Close

Hotel Newswire Headlines Feed  

Casey Olsen
Casey Olsen
S. Lakshmi Narasimhan
Felicia Hyde
Jeff Slye
Johnna Freud
Robert Mandelbaum
Michelle Wohl
Sam Small
Gini Dietrich
Coming up in May 2019...

Eco-Friendly Practices: Corporate Social Responsibility

The hotel industry has undertaken a long-term effort to build more responsible and socially conscious businesses. What began with small efforts to reduce waste - such as paperless checkouts and refillable soap dispensers - has evolved into an international movement toward implementing sustainable development practices. In addition to establishing themselves as good corporate citizens, adopting eco-friendly practices is sound business for hotels. According to a recent report from Deloitte, 95% of business travelers believe the hotel industry should be undertaking “green” initiatives, and Millennials are twice as likely to support brands with strong management of environmental and social issues. Given these conclusions, hotels are continuing to innovate in the areas of environmental sustainability. For example, one leading hotel chain has designed special elevators that collect kinetic energy from the moving lift and in the process, they have reduced their energy consumption by 50%  over conventional elevators. Also, they installed an advanced air conditioning system which employs a magnetic mechanical system that makes them more energy efficient. Other hotels are installing Intelligent Building Systems which monitor and control temperatures in rooms, common areas and swimming pools, as well as ventilation and cold water systems. Some hotels are installing Electric Vehicle charging stations, planting rooftop gardens, implementing stringent recycling programs, and insisting on the use of biodegradable materials. Another trend is the creation of Green Teams within a hotel's operation that are tasked to implement earth-friendly practices and manage budgets for green projects. Some hotels have even gone so far as to curtail or eliminate room service, believing that keeping the kitchen open 24/7 isn't terribly sustainable. The May issue of the Hotel Business Review will document what some hotels are doing to integrate sustainable practices into their operations and how they are benefiting from them.