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Contributed by RYAN ZARB , VP OF OPERATIONS , CARPEDIA INTERNATIONAL
I t ’ s budget season and for any financial leader in an organization that means juggling numbers to find the perfect balance for the upcoming fiscal year . Perhaps you even have your meticulously crafted budget in hand . So , now what ? If you ’ re entering the home stretch of a successful year , you might be tempted to coast through the fourth quarter or take a breather before diving back into the
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operational improvements that ensure you meet or beat that budget . If your year has not met expectations , you might be considering a reactive , impulsive or even emotional effort to turn things around . Resist these temptations . The final quarter is a prime opportunity to gear up for the year ahead . It ’ s a crucial time for businesses to gain a competitive edge by initiating continuous improvement efforts that seamlessly integrate operational practices with management performance systems — efforts that lead directly to cost savings and revenue growth . To truly thrive , hoteliers must go beyond setting financial targets ; they need to actively observe their teams , assess the tools at their disposal and consistently refine their strategies to close variance gaps or stay ahead of the curve . |
FIRST STEP : OBSERVATION We often talk about how observations are the most useful tool that is not used . Managers may set targets and implement systems , but without a clear view of how employees are engaging with those processes , gaps in efficiency can persist . Observing is crucial for managers to step back and objectively see how their teams are operating — identifying inefficiencies , communication breakdowns and areas where training may be needed .
By observing behaviors , managers can gain insights into :
• Workflow challenges : Identify service or production bottlenecks that slow down operations .
• Staff engagement : Analyze how employees interact with each other , their leaders and guests to reveal areas of improvement and opportunities
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for additional training .
• Real-time problem solving : Recognize patterns in recurring issues to allow managers to address problems before they escalate , saving time and resources .
These observations can provide insights in planning for the year ahead , influencing decisions about whether to allocate the budget differently from the previous year due to identified inefficiencies or opportunities .
EMPHASIS : CONTINUOUS IMPROVEMENT The final quarter of the year is often a period of reflection for many businesses , but the principles used in Q4 planning should be applied year-round . Continuous improvement should be the core focus of every business , driven by a commitment to streamline processes , train staff and
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50 hotelsmag . com Oct / Nov 2024 |