Gallagher’s 2018 Benefits Strategy & Benchmarking Survey asked U.S. employers close to 300 questions across the total rewards spectrum. This addendum highlights key findings and implications based on responses from 162 entertainment, hospitality and restaurant employers participating in this year’s research.
Referred to collectively here as “hospitality,” the industry is made up of a multicultural, mobile workforce. Due to high turnover and a tight labor market, talent recruitment and retention is a major priority for employers. Historically low unemployment is placing job seekers in the driver’s seat. In addition to cash compensation, prospective employees consider benefit packages and other people investments — such as work scheduling flexibility, paid time off and community involvement — side-by-side to understand which employer is more heavily invested in their future and overall wellbeing.
As hospitality organizations strive to develop programs that meet budget requirements while providing valuable benefits, they are implementing effective, mobile-friendly
communications and technology to help employees understand and access benefits.
In order to improve employee engagement, it will be important for the hospitality industry to shift from a short-term focus on benefits and compensation planning to a long-term strategic approach. While 61% still manage benefits on a year-to-year basis, hospitality employers have made significant strides over the last three years towards implementing multi-year strategies that can help improve engagement and reduce costs.