November 2014

Just in time for annual salary and benefit reviews, we're very excited to introduce a new Compensation & Benefits Detail Report we think you (and the club's HR manager) are going to love. We developed a one-click report that gives you extensive position-by-position detail on compensation and benefits, at a glance, for virtually every salaried position in the club. To run your own Comp & Benefits Detail Report, login to your account, navigate to the Reports tab in the Comp & Benefits section and scroll to the bottom of the page. The last item on the reports list is C&B Detail Report - All Positions.
SEE A SAMPLE OF THE NEW REPORT

9 QUESTIONS + 10 MINUTES = MORE INSIGHT

How long will it take to enter the non-financial information in your Club Benchmarking account? Probably a lot less time than you think. Did you know there are just nine questions on the operational metrics tab in the F&B section? Take a minute or two to enter something as simple as cover counts in the F&B Ops section and your F&B report will include "F&B Banquet Revenue per Cover." In the "Clubhouse & Buildings" section, entering the square footage of your clubhouse will add "F&B Revenue per Square Foot of Clubhouse" to that report. Other examples of ratios in the F&B report that bring together financial and non-financial data include "F&B Labor Cost per Cover" and "F&B Revenue per Full Member Equivalent." To make it even faster and easier to enter your non-financial data, we provide worksheets for gathering the information you need so it's at your fingertips when you login to Club Benchmarking to do your update. You'll find those nine F&B Ops metrics on the F&B WORKSHEET. All the other worksheets are available on the Annual Update page.

INCLUDED IN YOUR SUBSCRIPTION: Remember that we take care of the bulk of the update for you via your fiscal year end trial balance file. Email that directly to our Member Services team (trialbalance@clubbenchmarking.com ) and they will notify you when it's been uploaded.

 NEW BOARD ORIENTATION TOOLKIT

Last month we released an F&B Tookit designed to help explain the realities of F&B profitability to the club's board. Response was so positive that we put our heads together and created another one - the Board Orientation Toolkit. This time the idea is to provide you with resources that will help prepare your incoming board members for club governance through targeted education and to introduce four core concepts we believe are essential to their success. 

Labor expenses consume a major portion of a club's budget. Total payroll as a percentage of operating revenue is 55% at the median and at the upper end (at or above the 75th percentile) clubs spend more than 60% of their total operating revenue on payroll. The Club Benchmarking Labor Report is an important tool for understanding the breakdown and impact of labor expense at your club. CB Members are invited to join us for a free 30-minute session on using the Labor Report —Thursday, November 20th at 2:00 PM Eastern.

PEER CLUSTERS: BUILDING COMPARISON GROUPS

When running comparisons and reports in your CB account, you may have noticed a filter option called "Peer Cluster." A Peer Cluster filter allows a club the option of comparing itself to a defined group of other clubs. For example, a group of City/Athletic Club managers who meet annually and network througout the year have access to a Peer Cluster filter that allows them to view their own club relative to all other members of that particular group. An individual club can also request their own Peer Cluster filter which allows comparison to aggragated data from a specific list of 12 or more subscribing clubs. For more information about building your own Peer Cluster, email rconde@clubbenchmarking.com     

CLUB BENCHMARKING EXPANSION CONTINUES

Since October, we've welcomed 18 new clubs and 70 new users to the Club Benchmarking community. That brings us close to 500 subscribing clubs which is great news for you! With each new member club, the CB database grows more robust and our ability to analyze and understand the club industry is enhanced. To see which clubs subscribe, check out the complete MEMBER LIST 

WELCOME ABOARD!