According to an analysis of Disneyland Paris’ financial statements, employee productivity reached a ten-year high in 2022, with each park employee making an average of 119,676 euros.
Revenue per employee is a key indicator of productivity and the higher the score, the better, as it indicates that employees are performing at their best. It is not a measure of how much each employee generates directly, but is calculated simply by dividing the company’s revenue by its total number of employees.
The ideal scenario for any business is to achieve the highest turnover with as few employees as possible, although this has nothing to do with profit, which depends on the wages of the workers. If a few employees generate a huge amount of turnover but receive a lot of money, the company risks becoming loss-making.
Likewise, this data has nothing to do with satisfying employees, who can be satisfied if they receive a generous bonus, no matter how much turnover the company generates. On the contrary, they may be dissatisfied even if (or sometimes even because) they have achieved a large turnover, but feel that they are not being adequately paid by the company for which they work.
However, Disneyland Paris has been in the grip of strikes for a month. More than 1,000 protesters marched through the resort’s two parks on multiple occasions, leading to cancellations of performances and entertainment. The next demonstration is scheduled for Monday, June 19, according to the social media channel DLP report.
For decades, observers have tried to determine what sets Disney’s theme parks apart from their competitors. Currently, it is the quality of personnel, known as ” Cast Because of the role you play in a themed environment, which is crucial. the Cast It attracts visitors and the happier the customers are, the more they spend and the more they want to return, allowing the company to achieve greater turnover. The contrast is amazing with the sights of a video The latest video released by DLP Report that went viral shows a crowd of visitors outside Sleeping Beauty’s castle booing when the evening show was canceled by strikers.
Amusement park strikes are the worst case scenario for any operator. So keeping employees satisfied seems to come naturally to Disneyland Paris, especially since its operating company, Euro Disney Associates, has an operating profit of $51 million last year.
He said, “You see the numbers and the profits generated and the wealth that the Walt Disney Company has imparted.” Ahmed is pleasedone of Cast Disappointed, lately interview awarded to Ops. “Visitors, sometimes, argue with us and with us:” You’re right, we don’t understand why the ticket has increased, why all the products in Disneyland have increased, starting with parking, while you and the employees your salary does not follow. ” So it’s just a simple equation: let’s share fairly wealth.”
according to DLP reportDuring a video address to employees earlier this month, the president of Disneyland Paris, Natasha RafalskiHe said that although the company had recently become profitable, it had to be careful and therefore would not negotiate wages before the review scheduled for August.
There is no doubt that Disneyland Paris’ earnings of $51 million is just a drop in the ocean compared to $7.9 billion Disney earned last year from its world-class theme parks, experiences and product business. However, this appears to be sufficient to cover the demands of the strikers.
Their demands relate in particular to an improvement in seniority bonus, an increase in pay for Sunday work and an increase in the monthly salary by 200 euros. It will not represent No more than $3 million per month For all of the company’s 15,000 employees, so an annual profit of $51 million should be enough to cover that amount. However, this could only be the beginning.
As reported by Forbes, Disneyland Paris has it Staff expenses increased by 40.1% Over the past decade, it has reached a record number of 761 million euros In 2022. And that’s not all: Disneyland Paris employees would have received a new 5.5% salary increase at the start of this year.
This was not enough for them, as accelerating inflation cast a dark spell on France. According to a recent report by the Business Journal BarronSince Russia invaded Ukraine last year, the cost of electricity in France has nearly quadrupled, while flour, butter and eggs are about 50% more expensive.
Whatever the reason, the real impact is the same for employees: salaries that were once adequate are no longer sufficient. There is no doubt that the business owner is responsible for this, but inflation is completely outside his control and therefore he has no vision as to if and when it will rise again. If Disneyland Paris raises wages every time inflation rises, the company could become loss-making, putting its future and the jobs of its employees at risk. Therefore, their strikes can backfire.
In the decade ending in 2022, Disneyland Paris finished the year in the red seven times, with a total operating loss. 1.2 billion euros. Its track record is even bleaker, with the company posting a net profit of just twice as much and posting total losses of 2.2 billion euros. This partly explains why the park chief says finances are shaky after only one year of earnings.
When most companies lose money, they manage it by laying off employees and cutting wages. Not Disneyland Paris. Euro Disney Associates’ financial statements show that for the decade ending in 2022, the workforce has been by 9.2% to reach 15,450 peopleWhile the company’s expenses on its employees witnessed a An amazing 40.1% increase.
When Disneyland Paris was in the red, it would have been perfectly reasonable to tighten its belts by laying off employees and cutting salaries, but instead the company hired more workers and increased its spending on them.
However, Disneyland Paris now has a similar number of employees to 2017 (later decreased due to the pandemic), but each employee produces on average 27.7% of turnover in more. the Cast So it should be rewarded accordingly. However, Disneyland Paris is a for-profit organization rather than a social enterprise, so this argument does not hold up. However, the data shows that the company’s expenses are on its employees by 18.5% Between 2017 and 2022, and crucially, the company was incurring losses at the beginning of that period, so employees at most other companies were at risk. This situation is clearly not desirable for employees, which is why the comparison between 2017 and today is not relevant.
And so the Disneyland Paris parks find themselves in the position of making a profit while the employees desperately need a new pay raise, even if they got one a few months ago. This is a difficult dilemma. However, Disneyland Paris can draw inspiration from its peers, and that’s where measuring revenue per employee alone comes in.
Investopedia’s definition of revenue per employee says that the metric “is most useful when looking at historical changes in a company’s ratio or when comparing it to other companies in the same sector.” The most logical comparison is Parc Astérix, which is the most visited theme park in France after the two parks in Disneyland Paris.
Parc Astérix is also located on the outskirts of Paris and has attracted 2.6 million visitors last year, according to Global Presence Report affiliate Themed Entertainment Association and AECOM. This attendance must be compared 5.3 million visitors to Walt Disney Studios in Paris and l 9.9 million visitors to the nearby Disneyland park. Parc Astérix is operated by Grévin et Compagnie and has a much smaller number of Disneyland Paris employees (1,246 compared to 15,450). However, it is possible to compare the two parks identically by looking at the revenue per employee and the company’s expenses per employee.
Grévin et Compagnie is spending 19.5% less per employee than Disneyland Paris and that amount is growing, but it’s less than half of Disneyland Paris’s increase over the past five years. Above all, Parc Astérix employees generate 15.1% more revenue than Disneyland Paris. In conclusion, Parc Astérix spends less on each of its employees than Disneyland Paris and its employees generate more turnover for the company than Disneyland Paris.
Translated article from the American magazine Forbes – Author: Caroline Reed
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