---
title: Smart compensation solutions for hospitality providers | Keep Financial
description: There's a smarter way to recruit, retain, and incent your best employees. Learn more about strategic, value-driven compensation solutions from Keep.
image: https://keepfinancial.com/hubfs/KeepSolutions_Hospitality.png
---
NEW!
[**Blog: How Do You Build An Employee Flywheel?**](https://keepfinancial.com/blog/the-employee-flywheel-how-to-build-business-momentum-by-hiring-and-retaining-the-right-talent)
- Why Keep?
Why Keep
- Employers
- [How it Works](https://keepfinancial.com/how-it-works)
- [Keep Benefits](https://keepfinancial.com/benefits)
- [Product Features](https://keepfinancial.com/features)
- Employees
- [Flexible Compensation](https://keepfinancial.com/employee)
- [Using a Keep Bonus](https://keepfinancial.com/blog/top-5-ways-to-leverage-your-keep-bonus)
- Solutions
[Solutions](https://keepfinancial.com/solutions)
- By Use Case
- [Signing Bonus](https://keepfinancial.com/signing-bonuses)
- [Poaching Defense](https://keepfinancial.com/employee-poaching)
- [Annual Bonus](https://keepfinancial.com/annual-bonus)
- [Equity Alternative](https://keepfinancial.com/beyond-equity)
- [Spot Bonus](https://keepfinancial.com/spot-bonuses)
- [M&A](https://keepfinancial.com/ma)
- [Performance Bonus](https://keepfinancial.com/performance-rewards)
- [Tuition Reimbursement](https://keepfinancial.com/tuition-reimbursement)
- [Smarter Severance](https://keepfinancial.com/smarter-severance-that-works)
- By Industry
- [Healthcare](https://keepfinancial.com/healthcare)
- [Construction](https://keepfinancial.com/construction)
- [Logistics + Transportation](https://keepfinancial.com/logistics-transportation)
- [Technology](https://keepfinancial.com/technology)
- [Retail](https://keepfinancial.com/retail)
- [Hospitality](https://keepfinancial.com/hospitality)
- [Manufacturing](https://keepfinancial.com/manufacturing)
- [Automotive](https://keepfinancial.com/auto)
- [Education](https://keepfinancial.com/education)
- [Senior Care](https://keepfinancial.com/senior-care-services)
- By Role
- [Compensation + Total Rewards](https://keepfinancial.com/compensation-total-rewards-solutions)
- [Human Resources](https://keepfinancial.com/human-resources-solutions)
- [Finance Leaders](https://keepfinancial.com/finance-leader-solutions)
- [Executive Leadership](https://keepfinancial.com/executive-leadership-compensation-solutions)
- [Legal Leaders](https://keepfinancial.com/legal-leader-solutions)
- Resources
[Resources](https://keepfinancial.com/resource-library)
- - [Blog](https://keepfinancial.com/blog)
- [Help Center](https://docs.keepfinancial.com/knowledge)
- [Partner Program](https://keepfinancial.com/referral-partner-program)
- [Resource Library](https://keepfinancial.com/resource-library)
- [Integrations](https://keepfinancial.com/integrations)
- Topics
- [Retention](https://keepfinancial.com/employee-retention-and-strategies)
- [Bonuses](https://keepfinancial.com/employee-bonus-structures)
- [Compensation](https://keepfinancial.com/employee-compensation)
- [Engagement](https://keepfinancial.com/employee-engagement)
- [Forgivable Loans](https://keepfinancial.com/smarter-employee-forgivable-loans)
- About Us
[About Us](https://keepfinancial.com/about-us)
- - [About Us](https://keepfinancial.com/about-us)
- [Founding Story](https://keepfinancial.com/our-founding-story)
- [Press Room](https://keepfinancial.com/press-room)
- [Press Kit](https://keepfinancial.com/press-room#press-kit)
[Demo](https://keepfinancial.com/request-a-demo)
[Sign Up / Log In](https://app.keepfinancial.com/sign-in)
- Why Keep?
Why Keep
- Employers
- [How it Works](https://keepfinancial.com/how-it-works)
- [Keep Benefits](https://keepfinancial.com/benefits)
- [Product Features](https://keepfinancial.com/features)
- Employees
- [Flexible Compensation](https://keepfinancial.com/employee)
- [Using a Keep Bonus](https://keepfinancial.com/blog/top-5-ways-to-leverage-your-keep-bonus)
- Solutions
[Solutions](https://keepfinancial.com/solutions)
- By Use Case
- [Signing Bonus](https://keepfinancial.com/signing-bonuses)
- [Poaching Defense](https://keepfinancial.com/employee-poaching)
- [Annual Bonus](https://keepfinancial.com/annual-bonus)
- [Equity Alternative](https://keepfinancial.com/beyond-equity)
- [Spot Bonus](https://keepfinancial.com/spot-bonuses)
- [M&A](https://keepfinancial.com/ma)
- [Performance Bonus](https://keepfinancial.com/performance-rewards)
- [Tuition Reimbursement](https://keepfinancial.com/tuition-reimbursement)
- [Smarter Severance](https://keepfinancial.com/smarter-severance-that-works)
- By Industry
- [Healthcare](https://keepfinancial.com/healthcare)
- [Construction](https://keepfinancial.com/construction)
- [Logistics + Transportation](https://keepfinancial.com/logistics-transportation)
- [Technology](https://keepfinancial.com/technology)
- [Retail](https://keepfinancial.com/retail)
- [Hospitality](https://keepfinancial.com/hospitality)
- [Manufacturing](https://keepfinancial.com/manufacturing)
- [Automotive](https://keepfinancial.com/auto)
- [Education](https://keepfinancial.com/education)
- [Senior Care](https://keepfinancial.com/senior-care-services)
- By Role
- [Compensation + Total Rewards](https://keepfinancial.com/compensation-total-rewards-solutions)
- [Human Resources](https://keepfinancial.com/human-resources-solutions)
- [Finance Leaders](https://keepfinancial.com/finance-leader-solutions)
- [Executive Leadership](https://keepfinancial.com/executive-leadership-compensation-solutions)
- [Legal Leaders](https://keepfinancial.com/legal-leader-solutions)
- Resources
[Resources](https://keepfinancial.com/resource-library)
- - [Blog](https://keepfinancial.com/blog)
- [Help Center](https://docs.keepfinancial.com/knowledge)
- [Partner Program](https://keepfinancial.com/referral-partner-program)
- [Resource Library](https://keepfinancial.com/resource-library)
- [Integrations](https://keepfinancial.com/integrations)
- Topics
- [Retention](https://keepfinancial.com/employee-retention-and-strategies)
- [Bonuses](https://keepfinancial.com/employee-bonus-structures)
- [Compensation](https://keepfinancial.com/employee-compensation)
- [Engagement](https://keepfinancial.com/employee-engagement)
- [Forgivable Loans](https://keepfinancial.com/smarter-employee-forgivable-loans)
- About Us
[About Us](https://keepfinancial.com/about-us)
- - [About Us](https://keepfinancial.com/about-us)
- [Founding Story](https://keepfinancial.com/our-founding-story)
- [Press Room](https://keepfinancial.com/press-room)
- [Press Kit](https://keepfinancial.com/press-room#press-kit)
[Demo](https://keepfinancial.com/request-a-demo)
[Sign Up / Log In](https://app.keepfinancial.com/sign-in)
##### Hospitality
# Elevate guest experiences by retaining your best employees - Discover the power of smart compensation.
Traditional sign-on and retention bonuses aren’t working to attract and retain your top talent, but they could. With Keep, expect 4X the results of your current practices.
[Book a Demo](https://keepfinancial.com/hospitality#HospitalityForm)
##### The challenge
## Traditional compensation is no longer attracting and retaining talent
Today’s business environments – *with rapidly changing employee behavior, unprecedented resignations and evolving socio-economic conditions* – have rendered traditional recruiting and retention methods ineffective.
Many companies are competing for the same pool of candidates, leading to increased competition and difficulty securing workers.
It’s time for an innovative approach to recruiting, engagement, and retention.
#### High Turnover
In 2020, the overall turnover rate in the accommodation and food services sector was approximately 74%, as reported by the Bureau of Labor Statistics.
A survey conducted by Gallup revealed that the turnover rate for hourly employees in the hospitality industry reached 146% in 2020.
#### Low Engagement
Job satisfaction and feeling valued is crucial to both attracting and retaining the right talent while reducing turnover – and the lack of productivity and costs associated with it.
Low-engagement teams experience turnover rates up to 43% higher than highly engaged teams.
#### Competition
The U.S. Bureau of Labor Statistics reported that the leisure and hospitality sector had the highest job opening rate among all industries in April 2021, indicating the difficulty in filling positions.
86% of restaurant operators reported a staffing shortage in April 2021 (National Restaurant Association)
## Traditional retention-based compensation creates administrative headaches and unnecessary expense
#### Collections
Clawbacks are expensive to enforce and many end up unenforceable.
#### Tax Complexities
Paying taxes up front leads to countless hours wasted on preventable W2 corrections.
#### Manual Tracking
Many track sign-on and retention bonuses manually, making automation and scalable edits difficult.
#### 55% of hospitality employers reported difficulties in finding skilled candidates.
PeopleScout
##### The solution
## Custom, scalable sign-on and retention bonuses
**Keep Financial gives you a flexible compensation platform to offer, send, and manage your sign-on, retention, and performance-based bonuses.** With Keep, you can improve your recruiting, retention, and performance through a fully digital, automated platform to deliver upfront compensation earned over time.
#### Automate compensation
A fully automated system to deliver upfront compensation tied to **time-based and performance-based vesting**
#### Track milestones
Enable employees and employers to track & celebrate milestones
#### Improve finances
Improve providers’ credit and help remove their financial roadblocks
#### Flexible and modifiable
Include flexible components like performance challenges, easily modify arrangements
#### Optimize cash flow
Optimize cash flow & AR management, defer taxes & automate collections
#### Reduce manual effort
Save time and money by automating manual tasks like bonus tracking, clawbacks, W2 corrections, and more.
## Keep Financial features
- Turn-key product and no IT support required
- Bonus dashboard with employer and employee views
- Employee self-service portal to view milestones and withdraw bonus
- Governance and compliance built-in
- Finance-friendly, with robust auditing and reconciliation features
### “Keep has been an important tool in our employee retention program at Bestow, and we’re eager to utilize Keep Performing to better align performance objectives with significant compensation events.”
#### Claire Martin | CFO at Bestow Inc.
## See Keep in action.
- [info@keepfinancial.com](mailto:info@keepfinancial.com)
- [Blog](https://keepfinancial.com/blog)
- [Solutions](https://keepfinancial.com/solutions)
- [Help Center](https://docs.keepfinancial.com/knowledge)
- [Contact Us](https://keepfinancial.com/contact-sales)
- [Resource Library](https://keepfinancial.com/resource-library)
- [About Keep Financial](https://keepfinancial.com/about-us)
[Get Started](https://app.keepfinancial.com/sign-in)
[Request a Demo](https://keepfinancial.com/request-a-demo)
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