How to Motivate Your Employees With Incentive Travel
If you really want to motivate your employees and make them feel inspired, consider rewarding them with incentive travel.
Offering travel experiences has been found to be more engaging than cash rewards. A study by BI Worldwide found that although 64% of employees indicated a preference for cash incentives, there are other top choices. Research argues that the brain views cash as cold and valueless while experiential rewards stimulated emotion and imagination.
According to the recent study “Does Incentive Travel Improve Productivity?” the Incentive Research Foundation found that incentive travel was a very effective tool for raising sales productivity. In the company studied, productivity increase by 18% on average after implementing an incentive travel program. Based on another study, “Measuring the ROI of Sales Incentive Programs,” the sample ROI of a program was 112%.
This means that investing in a travel incentive program can be a very effective way to motivate your employees. Even if have a small budget, there can be a lot of advantages to offering your employees travel incentives. You don’t have to send them away on a private jet to Paris to offer them a unique experience they will enjoy. You can send them on a city break a few hours away, a glamping trip or even a resort retreat.
Any type of company, in every industry, can use an incentive travel program to encourage employees to work towards specific goals. Of course, the success of such a program will depend significantly on how it is executed. When it comes to planning yours, what can you do to make sure it is as successful as possible?
Here are some tips that can help you create the perfect corporate travel incentive initiative.
Sign up for blog updates
Tips for An Effective Corporate Travel Incentive Program
Developing the Program
Clearly outline the goals for the program. What do you want to accomplish? Decide on the target group for the program. Who will be receiving the travel incentives?
Use surveys or interviews to learn more about the preferences, values and interests of your target group. What sort of travel incentives are most important to them?
Then, figure out a budget for the travel incentive program. Is it realistic, yet generous enough to be significant?
Clarifying the Benefits
Determine the achievements that your employees must reach in order to earn the travel incentives. Are the goals and rewards laid out clearly, so employees know what to aim for?
Then, decide whether you plan to manage the travel incentive program internally, or outsource it to an agency. The key is to make sure any communication surrounding the program is clear and informative. Keep detailed records of the productivity of program participants and how they contribute to the financial performance of the company.
Be creative! Don’t just go for the same travel incentives every company is offering. Look for opportunities to send your employees to unique accommodations such as a treehouse in the forest, an ice hotel or a yoga retreat in the desert.
Consider adding in “edutainment” travel for a more authentic experience. Examples could be taking a historic tour, visiting an aboriginal community or taking part in an ecological project.
Implementing the Program
The next step is to implement the program and measure how it performs. Don’t forget to focus on ways the travel experience could be more interactive. When your employees are more engaged, these trips will be more memorable and enjoyable.
Look into how you can use the sharing economy to make travel incentives more affordable. This could include Uber, Airbnb and other options.
Stay up-to-date on the current trends for incentive travel, so you are always offering something new and exciting. Think about how you can make the trips better over time. (Check out our blog post, 7 Ways You Can Improve Business Travel For Your Employees.)
DOWNLOAD A COPY OF our INFOGRAPHIC:
KEYS TO BUSINESS TRAVEL SATISFACTION
Once you’ve designed your incentive travel program, ask your employees for their feedback. This will make your program even more valuable and will help you make improvements to ensure it’s more effective in the future.
After all, there is no such thing as one perfect travel incentive program – only the one that is best for your company. Putting together an incentive program like this takes time and may have to be refined as you go. However, it’s certainly worth putting the effort in. Strong employee travel incentive programs can have a huge impact on the morale of your team.
Need help planning your travel incentive program?
Planning a travel incentive program can involve a lot of work. If you need an expert on your side to help you plan it effectively and within budget, let us know. We design dozens of travel incentive programs for companies worldwide each year. We’d be happy to help you create a program that is the perfect fit for your business as well.
Contact us for more information or to chat with a member of our team today!