Work & Fun: How Can a CEO Deliver This Winning Combination?
From permitting beer drinking in the workplace to allowing employees to work from home, employee-friendly CEOs have tried about everything to make work feel less like work and more like fun. While most employees are gracious enough to accept whatever concessions a CEO throws their way, the fact remains: Some types of rewards are more effective than others at combining work and fun in a manner in which the latter doesn’t detract from the former.
Incentive-Based Trips Are a Great Option
Incentive-based trips are exactly what they sound like: travel opportunities that employees receive when they meet the requirements to receive them. At most companies, incentive-based trips are based on financial objectives. For example, a CEO might offer an incentive-based golf trip to his or her sales team if they exceed last year’s sales goals by 20 percent, or offer the same trip to members of management if they reduce annual operating costs by a similar margin.
Unlike wacky types of fun that could decrease business productivity, such as permitting drinking in the workplace, offering employees an incentive-based trip makes perfect sense from a business perspective, both for employees and the company for which they work. If you are a CEO who is looking for a way to deliver a winning combination of work and fun that improves workplace morale, below are four important reasons to consider offering an incentive-based trip.
- The Reward is Tangible
As a reward for hard work, there is nothing subjective about an incentive-based trip. Employees know that, if they meet the stated goal, they will be golfing in Ireland, snorkeling in Key West, soaking up spa treatments in Malibu, or enjoying a similarly fun type of trip. As they work toward the goal, they can continually envision the reward to help them stay motivated to succeed.
- Employees Know What to Expect
Employees at thriving companies know they’ll receive raises and bonuses for working hard. However, exactly what those raises and bonuses amount to is often unknown, until employees see it at year’s end on paper. An incentive-based trip doesn’t involve any guesswork. Employees know what they will receive, which can make them more motivated to receive it.
- Encourages Business Productivity
One of the problems of combining work activities and fun activities in the same environment is that the spirit of fun can usurp the commitment to productivity. Often, it is a better idea to make “fun” a reward for hard work instead of combining fun activities with work processes. Ultimately, the goal is to boost productivity in a capacity that increases the bottom line. Making an incentive-based trip the light at the end of the yearly work tunnel helps promote productivity.
- Can be Highly Cost Effective
Incentive-based trips can be a cost effective way to reward employees. For example, say you have a sales team of 25 people that would receive raises and bonuses totaling $1 million at year’s end based on their current performance. Now, imagine offering a group trip that would cost $250,000 and reducing raises and bonuses by a total of $350,000. That’s an easy way to add six figures to your company’s bottom line by using a trip as a performance-based reward.
Contact Us Today
If you are a CEO who would like to add more fun to the work environment, offering employees an incentive-based trip is a good option for the reasons above. However, to make the trip a success, you may need some assistance from a professional facilitator of incentive-based trips. If so, the experienced specialists at Incentive Travel Solutions are here to help.
We have assisted many businesses and organizations with planning captivating trips to desirable destinations worldwide. From helping you choose a destination, to negotiating the best travel prices, to handling web-based registration processes, we can facilitate almost any aspect of an incentive-based trip. Simply put, we handle the legwork while you focus on business.
For more information about our services, call us today at (704) 540-1482, or fill out our contact form. We look forward to helping you plan an amazing trip to remember!