Corporate incentive travel is an excellent strategy to motivate and reward your valuable employees. Incentive travel may be group or individual, along with the destination might be local or international. But every successful incentive travel program commences with meticulous planning.
Listed below are tips to help you plan a corporate travel program which fits your company’s culture, size and available budget:
* Determine your corporate incentive program goals. In specific terms, establish what the incentive program should accomplish. This may be an increase in sales, rise in production output or profits, or possibly a decline in defective products, sales returns or lost contracts. Be sure you assign a price for the improvement or reduction – a part, absolute number of units or contracts, or even a amount.
* Choose the target group to the program. This can be management, employees, salespeople, or even customers.
* Discover what the target’s values, interests and preferences through paper surveys or interviews. Then browse our corporate incentives guide to match up preferences with available packages in your budget.
* Considering past performance and employee behavior, establish reasonable tasks for the target group.
* Ensure you possess a performance tracking system in position which has a clear method to measure incentive program results.
* Brainstorm what obstacles may exist to the success from the incentive travel company. This could be current employee morale, organizational structure or market conditions.
* Decide if the program will likely be managed internally or outsourced for an agency.
* Understand applicable tax implications. Travel could be taxable to recipients under certain conditions, and special tax forms are usually necesary.
* When choosing a business incentive travel company, ensure it agrees to fulfill what exactly is promised for your budgeted cost, so that you understand its cancellation policies.
* After your program, survey winners and non-winners to discover whether the program was successful in meeting the goal.
Corporate Travel on the Smaller Budget
Even if you can’t afford to whisk your top performers off to Europe on a private jet, you can still reward the employees with incentive travel that they can enjoy.
When you can find the money to send your team away over a teambuilding retreat, this doesn’t happen need to be far. Campsites and resorts, even a day on the chartered boat can produce a memorable experience. For individuals, it’s a better idea to deliver your recipient somewhere exotic enough being memorable. When possible, allowing a spouse or children to accompany your employee is a good idea.
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