The HR Leaders Guide to Industry Benchmarking in Hospitality

Elevating Hospitality Performance Through Data-Driven Insights 

For HR leaders in the hospitality sector, staying competitive and making informed decisions is crucial. This guide introduces industry benchmarking as a powerful tool to compare your organisation's performance against industry standards, identify areas for improvement, and drive strategic planning. 

Understanding the Competitive Hospitality Landscape 

One of the primary benefits of industry benchmarking is the ability to compare your metrics against industry standards to understand where your company stands in the competitive landscape. This comparison enables you to identify strengths, weaknesses, and opportunities. By understanding where you stand, you can make strategic adjustments to improve your organisation's performance. 

Key Areas for Hospitality Benchmarking 

When conducting industry benchmarking, focus on several comparison areas critical to HR management: 

• Pay Rates: Assess the competitiveness of your pay structures against the industry average, ensuring you attract and retain top talent. 

• Turnover: Measure the rate at which employees leave, excluding internal transfers and agency staff, to compare your employee retention with industry standards. 

• Absenteeism: Determine the ratio of missed shifts to total scheduled shifts to gain a snapshot of workforce reliability and address underlying issues. 

• Pay Percentage: See how your salary allocations stack up across roles. 

• Timekeeping: Understand punctuality trends and address issues related to clock-in and clock-out times. 

Data-Driven Decision-Making in Hospitality

Benchmarking empowers HR leaders to make decisions backed by solid data, enhancing the reliability and effectiveness of their strategies. By using real data, you can ensure that your decisions are based on facts rather than assumptions. 

Strategic Insights and Performance Evaluation 

By comparing your organisation's data to industry averages, benchmarking uncovers actionable insights that guide strategic planning and help focus on what matters most. This enables a comprehensive performance evaluation, highlighting successes and pinpointing areas needing attention. 

How Alkimii Insights Can Help 

To streamline your industry benchmarking efforts, Alkimii Insights offers several features designed to provide invaluable insights and simplify data analysis: 

• Benchmark Dashboard: Gain detailed data across all job titles by region, county, and city in key areas. 

• Interactive Dashboards: Engage with your data through visually intuitive dashboards, making analysis simple and insightful. 

Real-Time Data and Automated Reporting for Hospitality

Alkimii Insights uses real-time data, ensuring you're staying ahead and ready to react promptly to new trends. Schedule reports to be automatically generated and sent to your inbox, keeping you informed without additional effort. 

By leveraging industry benchmarking with Alkimii Insights, HR leaders in the hospitality sector can make informed decisions, optimise their workforce, and drive overall business success. Alkimii Insights stands out by using actual, hard metrics from an extensive hospitality people database rather than relying on surveys or manually entered information. This ensures that the insights are timely, impactful and based on reality.

Alkimii Insights ensures that every piece of insight is derived from completely anonymous data, providing comprehensive analytics without compromising privacy. 

Ready to take the next step? 

• Read more about Alkimii Insights here.