Re: BURN AND TURN. Dealers Please!
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Youre also assuming there's a budget allowed for incentives like this.
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I can argue this easily with upper casino management, I will increase the take by x%. lets set aside Y% of the increase for the performance incentive. This is a found opportunity, its the cost of increasing productivity. This concept comes from the manufacturing floors of factories, and is a proven metric that encourages employees and management to reach the management revenue goals.
pretty convincing, no? Say the projected increase is an overall 1.5 hands/hour at a $3 drop. (fuzzy math coming - ). In a 10 table room thats $45/hour. Lets assume the per-table rev calc is for a 12 hour period (again, fuzzy math but it helps explain the concept simply). Thats $540/day * 350 (we will remove 12 days to show down time), $189k/year projected increase in GROSS revenue through the incentive program. Now lets set asside 25% as the cost of the program - the pool is a theoretical $47,250.
To make the calc more accurate you could make the incentive so the pool becomes 25% of the total over the prior years gross take with some metrics for statistical variance such as holidays, conventions, players/hour, tables in use - all used to provide a measure that doesn't allow the incentive pool to bloat with disclose to the staff how the calc is being made (this is important - communication with staff is key so they don't feel cheated).
Another positive is that encourages staff to remain. The award could happen in January but payment is made in April or something like that so you dont see a mass exodus after the holidays. Or this pool could be developed on a monthly basis.
Keep in mind this is just one idea... there are many ways to increase productivity, accountability, and accuracy. A nice side effect will be that the card room might become the most in-demand job for dealers in your market, which in turn will allow you to replace non-performing employees that are holding back the team from making their goals.
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