The pandemic changed the way we interacted with one another and more importantly, altered the way we collaborated in a business setting.
Over the years, data has become extremely vital due to its contribution in helping businesses stay on top. They can monitor and record KPIs and thus, boost business performance. However, most people did not anticipate how quickly it would become the basis of collaboration across different stakeholders in a particular organization.
The hospitality industry, too, experienced this phenomenon as people transitioned into the virtual world. Here is some insight into how data has helped the hospitality industry break new ground in terms of collaboration.
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The importance of data transparency during collaboration
Equal access to data is a big prerequisite in any collaborative effort. In fact, data is especially crucial in the era of Zoom meetings and virtual brainstorming sessions. Everyone is in different spaces, scattered across different parts of the world—making data transparency the most important factor to keep everyone on the same page.
Not only that, data should have three distinct qualities for strategic use:
- As close to real-time as possible
People should be able to utilize this data to create one uniform goal and adopt the motto of “one team, one objective.” However, this does not imply that the different departments do not have goals based on their own KPIs. It only needs to serve a common umbrella goal of increasing revenue for the organization at hand.
Empowering team members on their contribution
Being a part of a team is all about empowering one another, acknowledging the work of fellow team members. The hospitality industry particularly thrives on the qualities of empathy, inclusivity and inquisitiveness. Hence, it is expected that leaders in hospitality will take the time to empower their colleagues.
For example, holding regular team meetings bringing people together isn’t only a way to catch up on the week’s progress—it allows individual employees to comprehend the different ways that they contribute to the company. In turn, this helps boost employee morale and even invites volunteers when the time comes.
Here are other ways team leaders can help their crew feel empowered:
1. Offering them a draft
Before there is a final product, there is a draft. It is imperfect and vulnerable and may require a whole range of revisions before it comes to life as a final product. Nevertheless, offering the draft to your employees is an excellent way to make your employees feel valued. It helps them realize that their inputs matter from the first stage to the last.
2. Inviting feedback from all team members
Once this draft has gone out, the next step is usually revisions. Checking off the flaws and reinforcing the pros in a draft is best done in a team full of brains running full-throttle. So, open up the floor and invite employee feedback. Encourage every member to present their opinions and how to better improve the plan.
3. Offer periodic updates
Another great way to ensure that all stakeholders are on the same page is to roll out periodic updates about the project. Send out notifications, host team meetings, and make announcements about the project’s progress. At the end of it, hold a joint conference and provide visibility on the type of impact that the different teams have had on the project.
If certain members have had a massive impact on the project, it is best to let them know. After all, everyone is working towards the same goals, but this was only the result of the varied goals pursued by different teams.
Ensuring that every member has an understanding of the KPIs
The hospitality industry has a wide range of KPIs. Industry leaders often think that it could help to cut some of them out. This is because while KPIs are handy when evaluating progress, not everyone is privy to what each of them implies.
This brings us to the question – “can we really explain KPIs to a wider audience?”
Probably not. The number and jargon-heavy nature of the same make it near-impossible for everyone to discern. Therefore, the primary objective of collaborating across channels is to ensure that every stakeholder knows what each KPI stands for.
It is helpful to remember that while this transparent consolidated database is valuable, it is not everyone’s cup of tea. For example, revenue managers are incredibly receptive to numbers and spreadsheets of data. On the other hand, sales and marketing teams respond more positively to a visualized story of the data.
This is why having an automated system that visualizes KPI numbers onto the screen can be highly beneficial. The different KPIs will tell one story. In turn, members of a relevant team can draw up a hypothesis and hopefully recommend solutions.
Using technology to elevate problem-solving processes
RateGain can transform how the hospitality industry collaborates and communicates between stakeholders. With the goal of revenue maximization at its core, an automated tool like RateGain can help to not only eliminate roadblocks but elevate the whole process.
Moreover, it can help push for better productivity and enhance efficiency. This way, things, and processes are adopted far quicker to the marketplace – an essential requirement in today’s rapidly changing business climate.
In most industries worldwide, fewer than 15% of the managers make it a point to stir engagement among their team members. This is a pitiable number since engagement is the only way to buzz past the stagnation of working remotely between different stakeholders.
Thus, adopting data and its visualization is critical when it comes to picking up the pace of collaboration. It is vital to let your teammates know that they have a far more significant impact on how the organization functions.
Further, it is crucial to involve them every step of the way. This will help boost participation and possibly allow the organization to develop better solutions.
However, the easiest way to ensure successful collaboration is through a tool that simplifies and visualizes a team’s progress. It can help tell a story and empower team members with the knowledge of KPIs, making a profit and higher revenues a reality rather than a pipe dream.