ON DEMAND WEBINAR
Duration: 25 minutes​

It’s never been harder to be in the hotel business. About 67% of hotels report staffing shortages and the industries suffers from a higher than average turnover rate, at 80%. When replacing employees costs 30% to 150% of an annual salary along with operational challenges, every hotel across the country is facing budget challenges due to seasonality, market changes, and inflation.

Generous employee benefits would remedy many of these issues, but only 35% of hotel employees are offered health insurance through work—about half of the national average.

For those hotels that do offer health benefits to boost their recruitment and retention, it’s cost prohibitive, uncontrollable and doesn’t play well with the variety of employee types that comprise a hotel workforce. This doesn’t come as a surprise, with 2024 healthcare costs taking their biggest jump in years, according to the Wall Street Journal.

If you’re like many hotel management leaders, each year you stand powerless as your group health insurance delivers another high renewal. Double digit increases year over year aren’t sustainable for any company no matter the size, so many hospitality companies begin to increase employee contributions, switch to less comprehensive options, or raise deductibles—hardly the consumer-friendly solution we would hope for. For years, hotel leadership have asked why they can’t just give a stipend to employees and have them buy their own health insurance. Now they can.

In this session, learn about a new benefits trend that’s delivering cost control and flexibility to the hospitality industry and choice and personalization to its employees.

Key takeaways

• Learn why the hospitality industry is leading a new benefits trend built on cost control and choice
• Learn how ICHRAs work 
• Hear real life stories from other hoteliers on cost savings switching from group insurance 
• Determine if your hotel is a fit for ICHRA

SPEAKER

Kyle Estep
SVP, Partnerships and Policy
Take Command