Am I a good yield manager?

I recently took my first Wing foil lesson. I had been dreaming about it. The first question Cédric, the instructor, asked me was: “Have you ever done Wing? What about sailing in general? More specifically, do you already know how to Kite-Surf or Windsurf? What is your level?” These questions allowed him to assess my level. The type of my answers gave him guidance on the language to use and the training directions he could take quickly or more slowly.

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Clearly, I am a much better yield manager than a wing foiler!

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And you, when was the last time you evaluated yourself in yield management?

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When I ask this question to my interlocutors in car rental, the answer is “never” in most cases. And it's often the same thing when I ask about the last training of the revenue management teams.

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However, it may seem essential to evaluate oneself regularly to monitor the level of knowledge. There are all sorts of professions (such as pilot in transport) that are regularly monitored by their company via their instructors. But in car rental, never! For a manager, wouldn't it be interesting to have a mapping of his organization's strengths and weaknesses in terms of optimization? This assessment provides visibility on what needs to be improved internally to continue to progress.

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What is this Yield assessment questionnaire?

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The knowledge assessment by the WeYield Learning Center team offers a three-step assessment process:

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1. The self-assessment of each of the team members who are concerned with yield management from near or far.

Each person answers a questionnaire of 60 questions. It is not an exam with right or wrong answers. Faced with a given situation, it is a question of choosing the answer that is closest to what is done on a daily basis in the company.

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2. The review of the answers with an expert consultant from WeYield.

In a one-on-one interview with each of the respondents, the expert consultant will review the answers and ask them to explain why they checked such an answer. They must then explain what they do internally that illustrates and proves their choice.

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This approach avoids biased answers. Indeed, when reading the choices offered, one or the other could check an option presenting their work or method as more efficient or effective than what they actually do on a daily basis. We often find that some accommodate themselves to manual processes that are not very rigorous, but it is often due to lack of time, tools, knowledge or desire... But the problem is when they accommodate themselves to it. It therefore often happens that the answer chosen by the respondent is readjusted to a lower level by the expert consultant due to the absence of "proof" provided to support the initial choice.

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3. The presentation of WeYield's findings.

At the end of these two phases, the WeYield Learning Center team produces a mapping of the company's Yield knowledge. The chosen form is the radar map with 7 axes: pricing, market and competitors, information system, fleet, demand and reporting and the company. Two curves per collaborator are displayed: one concerns the self-assessment and the other the correction made after the consultant's review.

Who is this for?

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This assessment of yield management knowledge is designed for all those who are in charge of revenue optimization from near or far. First and foremost, the yield and pricing manager in place but also the reservation manager, sales manager. The scope can be extended to operational managers and anyone involved in the decision.

We recommend that the head of the company pass this knowledge assessment. Their position as the ultimate decision-maker and conductor gives them a special role. Their individual results could possibly remain confidential, not shared with other employees.

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What do you get at the end?

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A snapshot of the organization's strengths and weaknesses in terms of Yield Management. This mapping helps guide future actions. For all new clients in management at WeYield, this knowledge assessment is a required step in the onboarding process. For others, it is an option that clients or non-clients can activate to assess where the company stands in its daily optimization practice.This text discusses the importance of self-assessment in yield management. It introduces a Yield assessment questionnaire offered by WeYield Learning Center, which is a three-step process that includes self-assessment, review with an expert consultant, and presentation of findings.

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At WeYield, we believe that effective Revenue Management is not just about tools but also about fostering continuous improvement through knowledge and self-awareness. Our methodology combines structured self-assessment, expert review, and actionable insights to provide a holistic evaluation of your team's yield management proficiency. By leveraging our knowledge assessment, organizations can pinpoint their strengths, uncover hidden gaps, and create tailored strategies for growth.

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WeYield's approach is built on collaboration, ensuring that every participant—from Revenue Managers to operational leaders—gains valuable feedback and guidance. This process not only optimizes individual performance but also enhances the overall efficiency and competitiveness of the organization. With our expert consultants and proven techniques, we are committed to empowering car rental companies to achieve sustained excellence in yield management.

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Let WeYield's expertise be the catalyst for your team's evolution and success.