Travel Incentives Motivate Employees over Most Other Employee Incentives

Incentive programs are used to inspire a set of desired behaviors or accomplish defined objectives in a specified time frame. Travel incentives deliver businesses with the opportunity to encourage individuals to heighten performance, increase sales, or provide enhanced service to customers. A variety of options are available to aid an organization in receiving the right results including:

  • Monetary
  • Gift Cards
  • Certificates
  • Merchandise
  • Travel

Not all forms of compensation will provide the same degree of motivation and numerous companies are beginning to step away from traditional monetary rewards to gain desired outcomes. These rewards do not have the high trophy value offered by travel alternatives. They are often viewed by participants as part of their compensation package rather than as a reward program. The lift supplied by this type of compensation disappears quickly as the awarded participant uses the cash to pay bills or buy something they have been putting off due to lack of funds. Studies show merchandise programs involving items such as high-end electronics to be far more effective over monetary choices. Travel incentives deliver the most memorable experience and have begun to take the lead among businesses desiring to receive long term results.

Why Do Trips Make the Perfect Inspirational Tool?

Travel incentives supply the opportunity to have a memorable experience in a location many do not have the time or money to visit. The reward can consist of destinations throughout the world such as Italy or France. Companies are easily able to incorporate the incentive as part of business objectives by scheduling a meeting during the trip or adding a charitable event to the roster. The right destination, time frame, and promotion tactics make it possible for a company to:

  • Heighten Staff Performance
  • Engage Personnel
  • Draw In High Quality Employees
  • Increase  Perceived Job Value
  • Encourage Desire Behaviors

A carefully planned travel incentive is capable of increasing performance by a minimum of twenty percent. This number is boosted when a trip oriented reward is applied to a team setting. The initial offering of a program results in an immediate spike of productivity and raises interest among personnel. A company can expect to see continued increases in productivity if the award is promoted correctly.

The decision to incorporate travel incentives as part of a compensation program makes it easier to attract highly skilled individuals. Additionally, studies have found that long term programs supply better results over short term choices like cash or merchandise. Employees love to feel valued and while a monetary choice does allow them to remove a little stress, it does not provide the sense of accomplishment or loyalty seen after receiving a once in a lifetime trip. These experiences stay with the winning participants, encourage them to try harder for the next opportunity, and boost workforce loyalty to the company. By choosing travel incentives over alternative options, a business will be able to retain quality staff members and receive continued performance spikes. Trip incentives are the perfect tool for motivating individual employees or departments to meet objectives and provide a memorable award for a job well done.

Travel Incentives: Generating a Plan to Boost Organizational Achievement

Objectives are the first and foremost item of assessment as an organization begins to develop a travel incentive package. Selected goals must be specific, achievable, measurable, appropriately timed, and support the culture of an organization. Difficult to achieve objectives or those of ambitious nature are exciting, but can often lead to disappointment for everyone involved. While the criteria should be challenging, every determined goal must be reachable by applying a valid amount of effort. Objectives that cannot be measured or are not timed right make it highly difficult for anyone to earn the reward. This creates a level of discouragement capable of harming any future trip oriented efforts. For example, putting a program in place for boosting profits at the slowest time of the year is a good idea; however, goals should be set in accordance with average profits in order to avoid requiring participants to try to reach unreasonable sales totals. Timing has to be in sync with the desired goal to receive the most optimal results.

The Basics of Reward Program Design

A trip oriented reward program is frequently open-ended or close-ended; however, a company can set up a package falling between the two. Open programs consist of a planned set of objectives where a precise result has been laid out. They target the largest percentage of average performers, but also make it difficult to budget due to an unknown number or earners. Close-ended programs set an exact number of individuals who can qualify for the award and are easier to budget. The biggest drawback of this choice is the possibility of alienating certain people within a company. A good example is someone making the sales quota, but not being given the opportunity to receive the award. These programs also allow the same individuals to consistently win the offered trip. Resentment among coworkers is common when the same person is awarded the prize. A policy limiting the number of repeat wins is a good idea when a close-ended program will be used. Multi-level approaches with a mix of both basic types allow everyone to have a chance at the opportunity and still supply the recognition repeat earners need to continue performing above par.

Trip awards pay for themselves when a company carefully plans out and budgets the event. Administration costs typically fluctuate between five and fifteen percent depending on the travel incentives intricacy along with the amount of required analysis. Communication, promotion, and given awards additionally contribute to the total package cost. The time period designated for participants to earn the reward must align with the objectives. Diminishing sales might require a short term plan while quarterly improvements during a healthy profit era are ideal for a long term reward program. It is important to remember that federal government regulations view the reward as a form of income. Market value, program type, and merchandise costs could be required to be reported as part of each earners income. These factors must be taken into consideration and remain a priority as a company starts planning their travel package.

Using Travel Incentives for Employee Performance Improvements

Reward programs have become a typical corporate approach to encouraging a team, department, or individuals to reach a determined objective. While these tools are used quite frequently, numerous organizations do not fully understand how a desirable reward such as travel incentives affects employee performance. A staff is motivated by both the offered trip and the recognition received for meeting a defined goal. Organizations utilizing this type of program have a better chance of remaining strong against their competition. Incentives help employees continue to be engaged, inspired, and feel valued. In return for the staff investment, a company is better able to retain their most skilled employees and maintain a productive work atmosphere.

What Components Serve as the Successful Foundation?

Trip award selection criteria must be based on desired business objectives in order to create a beneficial program. A package has to be clearly communicated in regards to how it can be earned, desired goals, and each individual’s progress. Events or videos should be considered to increase anticipation of the possible reward and a well-designed package boosts generated excitement. An enticing package will have these elements:

  • Intriguing Destination
  • Interactive Sessions
  • Interesting Itinerary
  • Detailed Record Keeping
  • Clear Objectives
  • Measurable
  • Solid Promotional Plan

Managers perform all actions necessary to reinforce the company’s dedication to the incentives success. Record keeping allows the organization to track each person’s progress and contribution to company financial or productivity goals.

Planning is the Most Important Step

While the work behind planning a travel package can seem extensive, the supplied results are well worth the effort. A company must first sit down to determine what goals participants will work toward and the time frame of achievement. Time frames can range from a single month to an entire year depending on the objectives. Goals should remain on track with a single area of business or issue rather than be spaced across several departments or company problems. For example, an organization will have a higher rate of success if the objectives are based on increasing sales, morale, or individual performance rather than a mixture of these items. Once the foundation has been laid out, it is time to choose an intriguing destination for promoting the travel incentive employee performance program. This destination will need to be centered on the company background, set goals, and individual desires.

The itinerary will be more rewarding if it includes a charitable or business session event. This inclusion makes the approach justifiable to an organization while supplying a unique experience to awarded individuals or teams. It is common for planners in this scenario to focus on their own personal desires; however, the best approach is to evaluate certain background factors regarding the targeted individuals. The end prize should be centered on the demographic features of award winners and what drives them to work hard toward the goal. Any company deciding to use travel rewards to accomplish productivity, morale, or business specific objectives is capable of creating an effective program when time is taken to properly choose, plan out, and promote the offered incentive. Professional assistance is an option for improving the planning of such an award and ensuring satisfactory results.