Uncovering & Fosterings3.amazonaws.com/rdcms-hsmai/files/production... · Median Salary % Change...
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Transcript of Uncovering & Fosterings3.amazonaws.com/rdcms-hsmai/files/production... · Median Salary % Change...
Uncovering & Fostering
Revenue Management Talent
• How Did We Get Here?
• Trends in RM Compensation
• Recruiting and Retaining Strong RM
Talent
– Competency Paths
– Career Mapping
Agenda
Not Enough Talent…
How did We Get Here?
• 80’s: Deregulation of Airline Industry
Yield Management
• Mid-90’s: Application of Yield Management
Principles to Hotel Business
Revenue Management
• RM is a young discipline
Trends in Compensation
Median Salary % Change 2008-2012:
Corporate
Source: HVS North America Lodging Corporate Reports 2008, 2010, 2012
12.0
8.5
11.0
41.4
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
Perc
en
t C
han
ge (
%) VP Revenue Management
VP Operations
VP Sales&Marketing
VP Development
VP Finance
Median Salary % Change 2006-2012:
Property
18.1
2.6
11.7 12.5
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
20.0
Perc
en
t C
han
ge (
%) Director Revenue
Management
Controller
Director Sales&Marketing
General Manager
Source: HVS North America Lodging Corporate Reports 2008, 2010, 2012
Other Trends Influencing Recruiting &
Compensation
• Decentralization Centralization
• Home-based vs. Company Based
• RM as a Service
• Education (Institutional & Corporate)
Recruiting & Retaining RM Talent:
• What other Disciplines/Levels Share
Similar Competency Profiles?
• 10 Competencies
Self-
Efficacy
Execution Skills
Ethical
Awareness Service
Orientation
Loyalty to
Company
Self-
Efficacy
Execution Skills
People Skills
Ethical
Awareness Service
Orientation
Loyalty to
Company
Sensitivity
to Diversity
Sense of
Humor Leadership
Team-
Building
Self-
Efficacy
Execution Skills
People Skills
Cognitive Skills
Ethical
Awareness Service
Orientation
Loyalty to
Company
Sensitivity
to Diversity
Creativity Problem-
Solving
Sense of
Humor Leadership
Team-
Building
Senior level &
Executive Positions
Mid-Management
Positions
Junior-level
Positions
Revenue
Analyst &
Revenue
Manager
Dir RM &
Regional
Dir RM
Regional
VP RM,
SVP RM,
&VP RM
Revenue
Management
Similar Skill Profiles
Possible Skill Profiles
VP
Develop-
ment &
SVP
Develop-
ment
Dir
Feasibility,
Dir
Acquisition
& Dir
Develop-
ment
Develop-
ment
Manager
Development
Senior level &
Executive Positions
Mid-Management
Positions
Junior-level
Positions
Revenue
Analyst &
Revenue
Manager
Dir RM &
Regional
Dir RM
Regional
VP RM,
SVP RM,
&VP RM
Revenue
Management
Similar Skill Profiles
Possible Skill Profiles
Regional
VP
Finance ,
VP
Finance,
SVP
Finance
Corporate
Controller,
& Regional
Dir
Finance
Financial
Analyst,
Controller,
& Dir
Finance
Finance
Senior level &
Executive Positions
Mid-Management
Positions
Junior-level
Positions
Revenue
Analyst &
Revenue
Manager
Dir RM &
Regional
Dir RM
Regional
VP RM,
SVP RM,
&VP RM
Revenue
Management
Similar Skill Profiles
Possible Skill Profiles
SVP/VP
Sales,/
Marketing
Regional
Dir Sales/
Marketing
& Dir
Marketing
Marketing
Mgr & Dir
Sales /
Marketing
Sales & Marketing
Senior level &
Executive Positions
Mid-Management
Positions
Junior-level
Positions
Revenue
Analyst &
Revenue
Manager
Dir RM &
Regional
Dir RM
Regional
VP RM,
SVP RM,
&VP RM
Revenue
Management
Similar Skill Profiles
Possible Skill Profiles
SVP/VP
Operations
Regional
Dir Ops,
Area GM;
GM
Front
Office Mgr,
Guest
Services
Mgr, AGM,
Dir Hotel
Ops
Operations
Senior level &
Executive Positions
Mid-Management
Positions
Junior-level
Positions
Revenue
Analyst &
Revenue
Manager
Dir RM &
Regional
Dir RM
Regional
VP RM,
SVP RM,
&VP RM
Revenue
Management
Similar Skill Profiles
Possible Skill Profiles
SVP/VP
Asset
Mgmt
Dir Asset
Mgmt &
Asset Mgr
Asset Management
VP E-
Commerce
Dir E-
Commerce
E-Commerce
Recruiting from other Disciplines (Based
on Competencies):
• Manager/Junior Level
– Operations (below GM)
– Finance
– Sales/Marketing
• Mid-Level
– Feasibility/Development
– Operations (GM/Area)
Other Ideas for Developing Talent:
• Include RM as a Pre-Requisite for
Advanced Promotions
• Offer RM as a Career Development
Opportunity
