As an incentive travel agency, we get asked a lot of questions about how incentive travel really works. Business owners ask us what a weekend in Rio de Janeiro has to do with their employee performance rates, or how their company can benefit from sending their sales team to Cape Town, South Africa for a few days. The answers to these questions is rooted in what incentive travel is and how it works to benefit businesses and their employees.
Answering the Question: What Is Incentive Travel?
In order to fully answer the question regarding incentive travel, we must take a step back and define incentive programs as a whole. Incentive travel is one of several sub-categories that can be selected for a business’ incentive program.
From employers to employees, an incentive program is a set of business goals established by management to motivate their employees to meet. The reward for meeting these goals is what motivates employees to increase productivity, teamwork, and coordination. These programs are also capable of reducing turnover and increasing employee loyalty and morale.
There are different kinds of incentive programs available. Merchandise, cash, or certificates are popular reward options. But one of the most powerful and effective rewards is the opportunity to travel. Incentive travel programs are uniquely equipped to offer employees memorable experiences instead of simple goods, while still increasing business activity, profit, and employee engagement.
Why Invest In An Incentive Travel Program?
After surveying the estimated costs involved in various travel programs, many businesses question the value of investing in incentive programs at all. The short answer is simple: they work.
Over the past several years, business owners have discovered that having an incentive program in place for their employees greatly benefits the work environment and business growth. With a team united around a common purpose, companies have recognized an increase in communication, teamwork, and production. The business flourishes, product quality improves, and the employees are satisfied.
A common concern with many businesses is the financial aspect. Many companies pass up the chance at incentive travel simply because the process of finding quality locations at reasonable prices is tedious and difficult. With the assistance of an incentive travel agency, businesses have been able to find exciting and memorable locations without having to break their budget.
Necessary Components for a Successful Program
When it comes to creating and planning for a successful incentive travel program, there are a few key elements that must be included in order for the program to be successful from start to finish.
Anticipation: There must be clear and frequent conversation about plans and strategies to meet the program goal in the given time period. This prompts anticipation of the reward and motivates employees.
Records: It is important that detailed and accurate records are collected during the course of the program to track the company’s productivity and financial performance.
Location: The travel destination set for the program is in a fun or exciting location that offers opportunity for leisure time and interactive sessions.
Objectives: Every criteria surrounding the program is linked to business objectives. This promises that increased employee production results in improved business conditions.
Hosts: Executives and leaders of the company should act as hosts of the travel program and demonstrate appreciation for those employees that perform exceptionally.
Adjusting your business goals and finances to allow for an incentive travel program may seem like a sacrifice. However, with the assistance of a professional incentive travel agency, your entire team can unite around a common goal that will send your business soaring to new heights of productivity while guaranteeing a high return on investment.