5 Key Ingredients for Successful Implementation of Corporate Incentive Travel Programs
Planning. Design. Execution. For practically every endeavor, you need to pay attention to these three areas to bolster your chances of success. This is especially true with the implementation of corporate incentive travel programs.
Perhaps, you have read somewhere about the immense benefits of incentive travel programs and you wish to implement this scheme within your own company. Whether you are doing all the tasks involved in-house or you are thinking of getting the aid of specialists, here are five crucial things to remember.
Decide what success looks like
Before proceeding with the planning and design, you should know beforehand the objectives and goals to set for your organization’s incentive travel program. This is one thing that you should decide for yourself as you know exactly what success would look like. It can be generating 10 percent sales growth or getting more qualified leads.
Set a budget
Apart from the actual budget for the reward and the awarding ceremony, business organizations should also set aside sufficient money for the promotion of the program. Ideally, that allotment should be somewhere between 10 to 30 percent of the overall budget.
Take account of the participants’ desires
In implementing an incentive scheme, it is worthwhile to remember that the program is all about the participants. As such, your intended audience should have a say on a wide variety of program elements, including program duration, travel destinations, activities involved, and even whether family members should be included. Failure to get the inputs from your intended audience will lower the engagement rate.
Upon hearing what your intended audience has to say, you should use their feedback in order to design a program that is fair, sets an attainable goal, and has an appealing reward.Sometimes, employees do not put much of a premium on the exclusivity of the events or the budget set aside by the company. Instead, many find the idea of taking time off from their busy schedules, and visiting locations that are attractive to them, more important.
Before planning and designing the program, you have set goals and objectives, the attainment of which spells success. But how exactly do you ascertain success? Apart from examining financial metrics, it is also worthwhile to focus on behavioral aspects. The best way to do this is to observe the social media postings of winners which can offer an unfiltered glimpse into their perceptions.