This survey report details changes in the hospitality staffing and labor markets in 2023, building on annual research completed by Instawork in the past year. Presented by Instawork.
How to Support and Engage SMBs During COVID-19Bredin, Inc.
COVID-19 has been grinding on relentlessly for ten months now, taking a heavy toll on countless small and mid-sized businesses (SMBs). 1.85 million businesses closed completely or temporarily in the second quarter, according to Oxxford; in April, the National Restaurant Association found that four in ten restaurants had already closed. Despite encouraging vaccine news, it will be months before business returns to any semblance of normal. So in the meantime, we wanted to find out how SMBs are coping – and what you can do to support and engage them effectively.
You’ll learn:
• SMB perspectives on the effect of COVID-19 on their business
• How COVID-19 has changed SMB priorities
• How SMB staffing has changed
• When SMBs will return to their workplaces
• What SMBs want vendors like you to do to help them manage through the crisis
• Which vendors have been especially helpful
• How COVID-19 has changed SMB content consumption
• What SMBs want in your content
• The effect of advisory content on acquisition and retention
• The topics SMBs want to learn about from vendors like you
Description: Presentation given by CEO Jeff Weiner, and CFO Steve Sordello, at LinkedIn Q2 2015 Earnings Call. For more information, check out http://investors.linkedin.com/.
How to Support and Engage SMBs During COVID-19Bredin, Inc.
COVID-19 has been grinding on relentlessly for ten months now, taking a heavy toll on countless small and mid-sized businesses (SMBs). 1.85 million businesses closed completely or temporarily in the second quarter, according to Oxxford; in April, the National Restaurant Association found that four in ten restaurants had already closed. Despite encouraging vaccine news, it will be months before business returns to any semblance of normal. So in the meantime, we wanted to find out how SMBs are coping – and what you can do to support and engage them effectively.
You’ll learn:
• SMB perspectives on the effect of COVID-19 on their business
• How COVID-19 has changed SMB priorities
• How SMB staffing has changed
• When SMBs will return to their workplaces
• What SMBs want vendors like you to do to help them manage through the crisis
• Which vendors have been especially helpful
• How COVID-19 has changed SMB content consumption
• What SMBs want in your content
• The effect of advisory content on acquisition and retention
• The topics SMBs want to learn about from vendors like you
Description: Presentation given by CEO Jeff Weiner, and CFO Steve Sordello, at LinkedIn Q2 2015 Earnings Call. For more information, check out http://investors.linkedin.com/.
Our 2020 Survey on Sales Compensation in Israeli SaaS Companies revealed valuable insights about both the matureness of the Israeli industry in the past two years as well as the the effects of COVID-19. We encourage the industry to use this survey as a sanity check tool for CEOs, CROs and CFOs to see where they stand vis-à-vis their peers.
In this fast-paced and informative webcast, you’ll learn:
* The events or triggers prompt SMBs to start investigating new products or services
* Who within the SMB organization initiates product research in key categories
* Which specific information sources SMBs use to learn about products and services for their business
* The publications, newsletters, sites and blogs SMBs look to for product information
* The authors, bloggers, columnists, experts, podcasters, and social media personalities that are the most influential with SMB principals
* The content formats that work best at the awareness stage of the sales cycle
* The awareness tactics that are most likely to generate SMB leads
* The salesperson’s role in new product awareness
* The stage at which SMBs hire different roles, to help with targeting
* Key differences among respondents by company size, country and more
You’ll get actionable insights to put to work right away in your SMB sales and marketing plans.
From ITC Agent Conference 2016...
This breakout will cover the key data points you need to manage in order to improve efficiencies and increase profits within your agency. Today, data comes in multiple facets from websites, management systems, phone systems, rating systems and other sources. You will learn to recognize these key data elements and understand how to use this data to make better decisions that will lead to more profits.
myCPE Webinar: Developing Your First Cost & Price ProposalRobert E Jones
Contracts subject to the submission of cost or pricing data, (flexibly-priced contracts), require an acceptable basis of estimate including hours and dollars by line item, time-phased to match the project schedule, and sufficient detail to support the effort proposed. This course will dive into the complexity of those details and show you how to maximize profit and ensure regulatory compliance by preparing an adequate basis of estimate for every contract, regardless of type, when developing your cost and price proposal.
Nicola Wealth Presents Share the Pie: The Art of Building a Winning CultureNicola Wealth
John Nicola, Chairman and CEO of Nicola Wealth, joined Vanessa Flockton, Senior Vice President Advisory Services at Nicola Wealth to explain the art of building a winning company culture through the Share the Pie business model.
What do SMBs plan to buy in 2020? How do they make purchase decisions – who is involved, and how long does it take in key product categories? What resources do they use to conduct product research, and make a purchase decision? What messaging resonates best with this large and diverse segment? What can vendors do to make it easier for them to buy?
To answer these questions – and more – we recently surveyed 500 U.S. SMB principals. You’ll learn:
• SMB business outlook and challenges
• What SMBs plan to buy in 2020 in major purchase categories such as tech, financial services, travel and more
• Who conducts research, and makes the purchase decision
• How long the decision-making process takes for key product categories
• The role of peers and consultants
• Purchase channel preferences
• The media that work best to engage SMBs across the sales cycle
• The messaging that works best with SMBs
• The role of content in boosting sales
Our 2020 Survey on Sales Compensation in Israeli SaaS Companies revealed valuable insights about both the matureness of the Israeli industry in the past two years as well as the the effects of COVID-19. We encourage the industry to use this survey as a sanity check tool for CEOs, CROs and CFOs to see where they stand vis-à-vis their peers.
In this fast-paced and informative webcast, you’ll learn:
* The events or triggers prompt SMBs to start investigating new products or services
* Who within the SMB organization initiates product research in key categories
* Which specific information sources SMBs use to learn about products and services for their business
* The publications, newsletters, sites and blogs SMBs look to for product information
* The authors, bloggers, columnists, experts, podcasters, and social media personalities that are the most influential with SMB principals
* The content formats that work best at the awareness stage of the sales cycle
* The awareness tactics that are most likely to generate SMB leads
* The salesperson’s role in new product awareness
* The stage at which SMBs hire different roles, to help with targeting
* Key differences among respondents by company size, country and more
You’ll get actionable insights to put to work right away in your SMB sales and marketing plans.
From ITC Agent Conference 2016...
This breakout will cover the key data points you need to manage in order to improve efficiencies and increase profits within your agency. Today, data comes in multiple facets from websites, management systems, phone systems, rating systems and other sources. You will learn to recognize these key data elements and understand how to use this data to make better decisions that will lead to more profits.
myCPE Webinar: Developing Your First Cost & Price ProposalRobert E Jones
Contracts subject to the submission of cost or pricing data, (flexibly-priced contracts), require an acceptable basis of estimate including hours and dollars by line item, time-phased to match the project schedule, and sufficient detail to support the effort proposed. This course will dive into the complexity of those details and show you how to maximize profit and ensure regulatory compliance by preparing an adequate basis of estimate for every contract, regardless of type, when developing your cost and price proposal.
Nicola Wealth Presents Share the Pie: The Art of Building a Winning CultureNicola Wealth
John Nicola, Chairman and CEO of Nicola Wealth, joined Vanessa Flockton, Senior Vice President Advisory Services at Nicola Wealth to explain the art of building a winning company culture through the Share the Pie business model.
What do SMBs plan to buy in 2020? How do they make purchase decisions – who is involved, and how long does it take in key product categories? What resources do they use to conduct product research, and make a purchase decision? What messaging resonates best with this large and diverse segment? What can vendors do to make it easier for them to buy?
To answer these questions – and more – we recently surveyed 500 U.S. SMB principals. You’ll learn:
• SMB business outlook and challenges
• What SMBs plan to buy in 2020 in major purchase categories such as tech, financial services, travel and more
• Who conducts research, and makes the purchase decision
• How long the decision-making process takes for key product categories
• The role of peers and consultants
• Purchase channel preferences
• The media that work best to engage SMBs across the sales cycle
• The messaging that works best with SMBs
• The role of content in boosting sales
Similar to The State of Hospitality Staffing 2023 (20)
2. About the Survey
In November 2022, Instawork conducted a survey to evaluate
the current state of the hospitality industry. We surveyed 180+
hospitality businesses from caterers to hotels to food service
operators. Their industry leaders shared how their businesses
performed over the last year, what challenges they anticipate in
the year ahead, and more. Read on to explore the results.
2
3. What is your role?
5%
9%
13%
18%
22%
34%
Chef and Culinary
HR and Staffing
Owner
Other
Catering
General Manager
, President or COO
3
4. What is your top
business challenge
for this coming year?
(Results are compared to 2022 survey results)
Staffing
Uncertainty
of demand
Rising
supplier costs
Other
Forecasting
labor costs
19%
36%
9%
5%
18%
26%
50
45
40
35
30
20
15
10
0 5 25
32%
5%
6%
45%
2022
2023
4
5. In 2022, how much
revenue did you forgo
because of insufficient
permanent staff?
(e.g. declined business, limited service)
40
35
30
25
20
15
10
5
0
19%
16%
33%
6%
3%
23%
0-5% 20-50%
Over 50%
Not sure
5-10%
10-20%
5
6. Compared to 2022,
what change do you
expect in your revenue
in 2023?
50
45
40
35
30
25
20
15
10
5
0
15%
2% 3%
48%
17%
10% to 25%
Less than 10% change
in either direction
More than 25%
More than 25%
10% to 25%
6
7. In order to attract and
retain your permanent
hourly staff (full-time or
otherwise) in 2022,
did you do any of
the following?
[Select all that apply]
Offer a flexible
schedule
Provide
training
Increase pay
Give rewards
Offer new
benefits
Give title
promotions
0 10 20 30 40 50 60
52%
38%
34%
18%
26%
20%
7
8. What percentage
of your permanent
staff did you retain
throughout all of 2022?
40
35
30
25
20
15
10
5
0
18%
8%
10%
28%
37%
1-25% 76%-99%
100%
26-50%
51-75%
8
9. To attract and retain
your permanent hourly
staff in 2022,
approximately
how much did you
increase hourly rates?
$0 - 1
$1
No Raise
$2
$3-4
$5+
Other or NA
0 5 10 15 20 25 30
2021
2022
8%
12%
2%
0%
17 %
15%
30%
28%
19%
22%
16%
16%
10%
4%
9
(Results are compared to 2022 survey results)
10. In 2022, how did
the amount of flexible/
temporary staffing you
utilize change?
Didn’t use
flexible workers
Used more
flexible workers
Other
Used less
flexible workers
19%
9%
1%
10
72%
11. How difficult do you
think it will be to find
workers in 2023?
Easier The same
Harder
22%
62%
11
16%
12. How much time
does it take for your
business to recruit
for a part-time or
full-time position?
8+ weeks
Less than 1 week 4-6 weeks
6-8 weeks
1-2 weeks
2-4 weeks
40
35
30
25
20
15
10
5
0
5%
11%
24%
34%
20%
7%
12
13. 13
For more information about local labor trends or the
hourly workforce, please contact the Instawork
Economic Research Division at press@instawork.com.
Questions?