In the highly competitive hospitality industry, hotels are increasingly looking for ways to maximize profits and stay ahead of the competition. One way to do this is by implementing workforce management technology as part of their revenue strategy to make informed decisions and maximize profits.
What is workforce management technology?
Workforce management technology refers to software solutions that help hotels manage their staff and resources more efficiently. This technology can include scheduling, timekeeping, and task automation software, as well as analytics tools that help hotels optimize staffing levels and make informed decisions about labor costs. By using workforce management technology, hotels can reduce labor costs, increase employee productivity, and improve customer satisfaction.
Using workforce management technology as part of a revenue strategy:
Hotels can use workforce management technology as part of their revenue strategy in several ways. For example, analytics tools can help revenue managers analyze data to determine when staffing levels need to be increased or decreased based on demand. This information can help hotels reduce labor costs while ensuring that they have enough staff to provide quality service to guests.
Another way hotels can use workforce management technology is by implementing scheduling software that enables managers to create more efficient schedules. For example, scheduling software can help hotels schedule their staff to match demand patterns, ensuring that there are enough staff on hand during peak times while avoiding overstaffing during slower periods. This can help hotels save money on labor costs while still providing excellent service to guests.
Revenue management experts have identified several key factors that have worked well for hotels using workforce management technology as part of their revenue strategy. These include:
- Data-driven decision-making: Revenue managers who use data analytics tools to inform their decisions are better able to optimize staffing levels and reduce labor costs.
- Collaborative decision-making: Effective revenue managers engage with other departments, such as housekeeping and maintenance, to ensure their decisions align with the hotel's overall goals.
- Technology adoption: Revenue managers who embrace technology are better able to stay ahead of the competition and quickly identify new paths to increase revenue.
Conversely, some areas where hotels have missed the mark when it comes to workforce management technology, including:
- Poor data quality: Revenue managers who rely on inaccurate or incomplete data may make poor decisions that hurt the hotel's bottom line.
- Resistance to change: Some hotels may be resistant to adopting new technology, which can put them at a disadvantage compared to competitors who are more willing to innovate.
- Lack of collaboration: Revenue managers who work in silos and do not engage with other departments may miss out on opportunities to optimize revenue and reduce costs.