Retaining Top Talent with Exclusive Incentive Travel
An incentive travel trip is unlike anything you could plan yourself. It takes an expert with global knowledge who creates a trip that includes the best foods, activities, hotel, atmosphere, entertainment, interest, and experiences. Experiences that leave travelers with a feeling they’ve done something they never thought existed. Experiences so memorable they secretly smile at every reminiscence. The type of trip that retains top talent and forges bonds between employer and employee.
While it would be nice if employees continued to work hard for the same amount of compensation year after year, that’s not how it works. People want to be valued for their work and one way is compensation. Top performers are motivated to reach new heights by more than just a passion for their profession. The prospect of receiving pay raises and bonuses also motivates them to break last year’s revenue targets, but these traditional types of compensation aren’t the only ones that motivate employees to perform.
Using Non-Monetary Incentives
Pay raises and bonuses are the most common forms of compensation for top business performers. As the old saying goes, “money talks”. However, some companies prefer to get creative, and offer non-monetary incentives, too, such as new luxury vehicles, luxury watches, and a variety of other unique gifts that are well off the beaten path of incentive-based rewards.
Some companies assume that offering the direct financial incentives of bonuses and raises is the best way to motivate top performers to translate their talent into business goals achieved. However, over time, non-monetary rewards, especially incentive travel trips, have proven to be quite effective, as well. Consider the following statistics from the Incentive Research Foundation.
- Companies that offer non-cash rewards, such as incentive travel trips, experience average annual revenue increases that are three times higher than companies that don’t.
- 100 percent of companies that are “best in class” offer incentive travel trips at year’s end to recognize the achievement of annual sales success and dynamic revenue growth.
- Well-designed and skillfully deployed incentive travel trips can boost sales productivity by nearly 18 percent and yield a return on investment (ROI) of up to 112 percent.
- Nearly 50 percent of U.S. businesses use incentive travel to motivate and reward various types of workers, including: salespeople, channel partners, and managers.
Need Help Planning an Exclusive Incentive Travel Trip?
If your company would like to make an incentive travel trip a part of its compensation package for top performing employees, Incentive Travel Solutions will help you plan your travels from start to finish. We handle the complexities of coordinating precisely the type of trip you desire, so you can focus on core business in the meantime, and then embark on your travels with leisure. From scheduling travel options to providing on site travel staff, we offer everything you need.
For assistance making your exclusive incentive travel plans a reality, call us today at (704) 540-1482, or fill out the contact form on our website. We look forward to helping you compensate your hard working team of business personnel in a way that they will remember forever!