Many companies today understand that when it comes to motivating top talent, cash alone just won’t cut it. If you want to encourage your employees toward higher productivity and to reward good performance, then you have to be prepared to invest in a solid incentive program that is tailored to the needs, culture and values of your organization. Since it has been proven time and again that cash as incentive may not produce results (some studies say that it may even be harmful to employee growth and development), companies learned to be creative in crafting the incentives they offer. There are now several new strategies for incentives delivery, from gamification to online rewards to the use of social media as platform for talent recognition. Despite the emergence of these new incentives platforms, a few of the classic ones are still considered as the most powerful and effective. For businesses all over the world, company incentive trips remain to be the preferred strategy for recognizing the contributions of employees to the success of the business. When designing your travel incentives program, it can be easy to get lost in the details, but it’s important to always remember the big picture.To ensure success of your program, make sure to avoid the following mistakes:
- Wrong or inaccurate evaluation framework. Consider both the qualitative and quantitative factors when deciding who to reward or incentivize. It can be easy to single out the top performers in the sales team, but think about how you should also recognize the contribution of other members, such as the ones who did research or created the marketing that made the sale possible. Or, you may have been rightfully rewarding the brightest performers, but don’t neglect the other employees as well who can do better with just the right motivation.
- Disconnect with the business strategy. Every piece of your incentive strategy should be connected to the overall goals and objectives of the business. Travel as incentive should not stand alone, but rather should be part of the entire value system of your company. Make sure that every component, from the selection of winners to the destination and itinerary of the trip, can all be rooted toward measurable goals that you have set.
- Unjustified cost. With the fickle economy today, every single business expense should have a clear target ROI. Travel has become more affordable through the years, but it can be an expensive burden if not planned well. Work with reputable corporate travel incentives specialists who can help you develop the right program for you.