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Benefits

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Salary and Bonuses

Salary and Bonuses

Benefit packages for leaders of organizations with budgets exceeding $1 million were slightly more favorable.

• 78% of survey participants revealed they had no car allowance, but 33% of large-budget organization leaders had such an allowance compared to only 18% of leaders employed by smallbudget organizations.

• Even though most differences were minimal in nature, large-budget (over $1M) leaders also had preferable numbers in the following areas:

Vacation/PTO Benefit Accrual

– Vacation/Paid Time Off benefit annual accrual

– Family healthcare plans

– Family dental plans

– Monthly premiums for healthcare and dental plans

– 401k or 403B

“discretionary/profit-sharing”

– Immediate 401k vesting schedule

– Club or other memberships

Minimal over 6 weeks.

Small-budget (under $1M) organizations were more likely (31%) to offer mental health benefits than their large-budget peers (19%).

When asked about additional benefits (not mentioned previously in the survey) respondents overwhelmingly referenced Remote/Hybrid flexibility (64%) as their top choice.

• Small-budget (under $1M) organizations were more likely (31%) to offer mental health benefits than their large-budget peers (19%).

• 1 in 4 organizations offer wellness incentives to their sports tourism leaders, a benefit which ranked third in the “other” category.

1 in 4 organizations offer wellness incentives to their sports tourism leaders.

Key Insights

• In a recent Forbes article, Gary (2021) notes a study by the National Safety Council that found employees experiencing mental distress cost their employers approximately $3,000 more in annual healthcare services than their peers, in addition to additional costs related to missed days and employee turnover. Organizations who proactively address mental health often see a wide range of positive ROI, which is great news since this area is being viewed as more of a necessity post-Covid.

• Expert Insight: “Not surprising as studies from Gallup and Forbes have identified that flexibility is the number one benefit for workers from the front line to the “C” suite, followed closely by Culture. Gallup also reports that employee well-being and balance are here to stay. We find that this is certainly true for the greater travel, tourism, events and sports industries.” – Mike Gamble, President & CEO of SearchWide Global

• Expert Insight: “What we know for sure is that this in not a one size fits all for our industry. To retain the top Gen Z and Millennial workers, we must meet them where they are, and break out of our old and dated paradigms and leadership philosophies. However, this is a two-way street, and the younger generations will need to do the same. Let’s meet in the middle and listen, learn and grow and prosper together.” – Mike Gamble, President & CEO of SearchWide Global

Thank you for taking the time to read the 2023 Sports Destination Leaders Salary, Compensation & Benefits Report!

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