Incentive travel became an unspoken term among business environments as a dwindling economy caused financial cutbacks within organizations. A recovering economy along with the recognized need for heightened employee motivation has brought this concept back full force. Recent surveys have reported an expected rise in use of this motivational tool in the next three years. Incentive travel is slightly different than previously applied programs seen a few years ago. If you have been considering new ways to inspire employees to perform better, a few facts must be covered to provide the complete view of what this motivational program has become today.
These programs, previously viewed as simply fun, have transformed into a more serious type of incentive approach where companies are focused on factors such as accountability, bottom line spending, execution, and promotional aspects. They want to make certain dollars are dispersed appropriately and that the program remains centered on the achieved goal from implementation all the way through trip completion. What caused incentive travel to take such a dip only a few years ago? You might remember the issue of a particular insurance company spending a large sum of money on a reward while on the verge of receiving government bailout funding. The resulting outrage of shareholders and the general public caused many companies to drop these inspirational tools altogether.
How Are These Programs Making Their Way Back Into the Workplace?
Incentive travel has taken center stage again as the economy stabilizes and the smoke has finally blown over; however, the event caused the outlook of these programs to be a little different. Proposals must include hard data showing the value of implementation in order to justify the expense. Chief Financial Officers want to be capable of justifying such a program to ensure organizational interests are the top priority. Budgeting, financial requirements, and goal oriented itineraries are essential for this justification. If it cannot be justified, then the odds of approval are far less. Adding a business meeting to the itinerary is one way to better justify this type of reward. Authentic experiences offering insight on the uniqueness of a location are another justification method being applied by companies. Some destinations offer the chance to incorporate social responsibility projects as part of the getaway by holding charitable events where visitors can partake on behalf of the company.
Various changes such as the above mentioned have caused a surge in the popularity of incentive travel and a professional can help with the planning aspects of a program to make certain the right impression is provided. Incorporation of supportive business features has caused these programs to become increasingly rigorous to gain the offered reward. The investment is being justified long before it is offered and each program is tailored to specific objectives. Incentive travel provides the experience individuals need to strive toward achievement. It offers a longer lasting effect than alternative motivational methods and can be used to promote the success of numerous organizational goals. Recent changes have furthermore improved an already affective approach and allow an organization to maintain a desired reputation while rewarding employees for their good work.