CEO Pay in Hospitality 2023

As part of our study, we aim to identify CEOs who earned their pay and others who were overpaid according to our pay-for-performance model. The model factors stock and EBITDA growth over a three-year period and compares that to company size and CEO total pay. The result is an index that shows if a CEO was over or underpaid relative to their peers.

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Applied Psychometrics, Vol. 2: Supporting Personal Development

It is not always easy to be truly objective about oneself. When discussing career development programs, AETHOS™ often talks about the importance of a personal board of advisors – individuals who know the person in question from different walks of life. They can speak to professional as well as personal strengths or challenges. Besides mentorship programs, organisations can, however, also support their employees through other means.

Read moreThomas Mielke

Applied Psychometrics, Vol. 1: Fostering Employee Loyalty

The current economic and geo-political context is putting refreshed strain on the sentiment across many markets. The question now more frequently being raised by functional leaders is, “How do we as an organisation ensure to keep our workforce that we have so painstakingly rebuilt just months ago? And, “How do we foster loyalty when financial resources are being squeezed?” [...] Psychometrics can be applied to assess cultural fit, to spot development potential for executives, or to identify areas in which an individual is likely to be able to significantly drive performance. Looking at them through the lens of wanting to drive loyalty, the answers for the following five questions should be found [...]

Read moreThomas Mielke

Sustainable Business Practices vs. Business Recovery: HR in the Middle

Hospitality organizations cannot afford to drop the ball on sustainability. Clearly, they have done well in handling the immediate urgencies that have come out of the crisis, while addressing some fundamental sustainability practices and programs. Yet, there are seemingly more resources wished for, and required, to better engrain and align sustainable thinking within the organization and to proactively build sustainable skills. This is not only a question for a company’s HR executives: the onus is on an organization’s leadership team. Specifically, the leadership team must ensure that HR is not bogged down by the tactical implications and roll-out of initiatives that help ‘keep the head above water’ during a crisis. On the other hand, HR should continue to push for the necessary resources, and commitment, to embed sustainability. Whilst the financial and economic implications of the recent past are very real, so are those of the failure to address sustainability.

Read moreThomas Mielke

Managerial Resilience – Not as Clear-Cut as Often Presented

Focusing too much on overcoming a crisis, to returning to normality, runs the risk of losing sight of what the realities are. Do we not always have to somehow overcome one crisis after another? Do we not always have to fight for talent, to overcome an economic crisis, or to review operating costs because of raising food prices, rents, etc.? Do we not have to deal with either the consequences of entering or exiting a political union, a labour union, or some other type of interest groups? Are there not always, somewhere on the globe, some sort of conversations about protectionism as it relates to the local labour market — followed by talks about the need to open up the market to attract and retain people from elsewhere?

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Mobile Technologies to Drive Operational Focus and ROI

Mobile technologies have streamlined data collection more than ever but knowing how to link and act on that business information is the key here. Leaders should therefore not assume that near-instant learnings always entail fast solutions or outcomes. On the contrary, there is a psychological phenomenon known as the "speed-accuracy trade off," which implies that one can do things "quickly" or "correctly" but usually not both simultaneously. This means that organizations are well advised to start thinking early about the feedback loop, the information that they are interested in gathering, how they plan to use it, and the process (and time) it takes to build and develop such data.

Read moreThomas Mielke

Ideas To Overcome The Current US Employment Conundrum

Today’s employment environment is like nothing we have experienced before. The last pandemic happened in 1918, with a very different labour and economic atmosphere. There are no easy answers to a vast number of questions and nuanced circumstances. The travel industry has been particularly hard hit, as so many people were furloughed last year without any real answer about when they would return. As an “academy industry,” a large portion of these furloughed people were in line-level and entry-level management positions – the most vulnerable faction of the American economy.

Read moreKeith Kefgen, Terry Donovan

Hospitality’s Second Act: Capitalising on the Enchantment Economy

Companies that apply new learnings of the enchantment economy only to product offerings or curated experience packages will fail to fully capitalise on the economic rebound and recovery. This is because the most basic component of guest experiences must also be considered, i.e., the people delivering on brand promises. Sadly, many hospitality organisations across the globe continue to struggle with entice employees back to work. It is reasonable to deduce that the economic recovery might be at risk if employees themselves are not ‘enchanted’. The obvious question becomes how businesses can effectively accomplish this.

Read moreThomas Mielke

Loss and Perseverance

Post-pandemics leaders must ensure that their organizations stay intimately connected to a higher purpose and value system that reframes “loss, frustration, isolation, and adversity” as an opportunity to appreciate and model “gratitude, fortitude, humility, and service.”

Read moreKeith Kefgen

A Conversation with Le Cordon Bleu about Talent, Trends, and Entrepreneurship

I recently connected with Dr Thomas Kyritsis, Senior Lecturer at Le Cordon Bleu and Director for the Master and Bachelor programmes which the organisation runs together with Birkbeck College, University of London, Our conversation started on the impact of Brexit on education and the UK hospitality industry but quickly moved to other topics. Are industry executives still ‘taking the plunge’ to pursue their own entrepreneurial endeavours? If so, what trends or shifts in consumer behaviour should individuals keep in mind that might shape the industry …?

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