What Is Incentive Travel?

Incentive travel boosts employee loyalty and productivity by awarding top performers with an all-expenses-paid travel reward. Incentive travel programs exist to motivate employees and increase productivity and sales.

What Does an Incentive Travel Company Do?

Incentive travel companies work with your business to create a travel incentive that meets your unique needs and goals. They will determine what kind of plan will motivate your employees and implement that plan. Selecting the perfect destination is just one factor. An incentive travel company will also arrange lodging and take care of logistical and administrative matters. They can craft kick-off announcements and promotional campaigns as well. What’s more, an incentive travel company will have people on-site during the trip to make sure everything runs smoothly.

Why Incentive Travel?

There are different kinds of incentive programs, but travel incentives are unique. Cash rewards are often unmemorable and can lead to feelings of entitlement and expectation. It can be difficult for employees to receive monetary awards as part of an incentive plan reward rather than as part of their compensation package.

Travel incentives, however, provide unique opportunities and memorable experiences. These trips stand out as rewards, prizes earned only by the highest performers. Travel opportunities provide actual incentives, motivating employees and building excitement. Furthermore, travel is the most preferred reward for high-producing employees¹. Not only that, a good travel incentive program can increase productivity by 18% and produce a 112% ROI². If you’re looking for an incentive program, incentive travel is by far the most memorable and productive option.

What are Current Travel Incentive Trends?

The incentive travel industry is currently booming, with increased budgets, growing lead times, and an expanding pool of incentive travel destinations¹. Here are some key trends in this blossoming industry.

• Unforgettable Experiences:  It is increasingly important that incentive travel provides unique opportunities. People want an experience that they cannot get elsewhere, something new and exciting. Incentive travel destinations must create enthusiasm, and incentive winners need to make lasting memories.
• Freedom and Flexibility:  While many enjoy a travel experience with unique activities planned, others prefer a more flexible schedule. These people want the freedom to explore their new surroundings, choose their own opportunities, or have some down time in the hotel.
• Wellness Travel:  It is increasingly common for employees to desire an incentive that leaves them healthier and more refreshed. Whether it’s outdoor adventures, fitness and wellness classes, or spa days, some employees will value the attention to their health.
• Networking Opportunities:  For some, a company getaway isn’t all about relaxation. There are those who still want a business aspect, an opportunity to grow. Providing opportunities for employees to interact with other business professionals, then, could be greatly appreciated. A chance to do some networking would be exactly what some employees are looking for.

If you have any additional questions about incentive travel, contact Gavel International.

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SOURCES:

¹ http://theirf.org/research/2015-landmark-study-participant-award-experience-preferences/1619/
² http://theirf.org/research/measuring-the-roi-of-sales-incentive-programs/175/