Tips for Setting up Cost Effective Travel Incentive Programs for Your Employees
More and more people are choosing to save money for travel and leisure purposes. You won’t have a hard time looking for at least a dozen people in one company who are saving a part of their monthly pay checks to go into their future travel funds.
Since many people in general are fascinated by the idea of traveling abroad or even locally, it makes sense that this would be a great additional perk to offer to your employees. By providing exciting travel incentives, your employees don’t have to save too much from their income to have the opportunity to travel. And you can definitely expect all your staff to work harder and go the extra mile to reach and surpass their target quotas.
As a business owner, it is definitely worth thinking about and coming up with travel incentive programs for your company today. This is because hotel and resort room rates are lower today compared to several years ago, and especially during off-peak seasons. Various hotels and resorts also offer add-ones and special offers that are simply hard to resist yet still quite affordable.
Of course, offering a travel incentive program for your employees can still create a dent on your company’s annual budget. This is simply to be expected. But if you plan and set it up properly and strategically, you won’t have to set aside a considerably large sum of money for this new reward system.
An incentive program should be planned and implemented carefully. The allocation, targets and profit margins have to be considered when setting it up. And to make the program more cost-effective and budget-friendly, there are certain tips you can follow.
When coming up with the offered get-away incentive, be flexible with the destination options. This a highly useful tip to keep in mind so that you can know more about and take advantage of the different hotel and resort special offers, and you can also cut back on dining and entertainment expenses.
Another cost-effective tip you can follow when coming up with the program is to select destinations that are closer to home.You can save some money on airfares when you choose places that are nearer.
Do not choose places that are known to be too extravagant or for having high-cost-of-living standards as well. You and your rewarded employees will just end up paying more for the accommodation, food and other expenses that come with going on a vacation in such areas.
Finally, choose economy or premium flights instead of business class. The differences in these rates are quite large, and if your employees want to travel via business class, they have to know that the upgrade expenses will have to come from their own pockets.