The year’s well underway, but there’s still plenty of time to incorporate incentive travel into your employee rewards program. With HR specialists now present more often at upper echelon conference tables, it’s clear that the value of incentive travel programs is hitting corporate consciousness at the executive level. Incentives are exactly what they say they are – motivators which inspire employees to reach your organizational goals, offering exceptional ROI for even the most lavish among them. If your company isn’t yet on the incentive travel bandwagon, perhaps these 4 irrefutable reasons to use incentive travel in 2017 will get you on board!
This isn’t an empty claim. The Incentive Research Foundation’s recent study indicates that travel incentives boost employee performance by almost 50%. Employees who experience incentive travel as a group forge strong bonds. Those bonds, in turn, serve your organization’s goals. Workplaces are rapidly transformed when travel incentives are in play. When they’re experienced, the effect is twofold, with teams built to last and inspired to perform.
Many remember the first dollar they ever made, but few were inspired by the experience. And experience is the key word here. People’s memories are linked to experiences. When you offer your people quality experiences, they’re going to associate them with your organization and their role in it. Parasailing in Puerto Vallarta is a peak experience few forget, especially when it’s part of an excursion your employees take as part of a travel incentive. Sharing one-of-a-kind experiences is another team-building tool which provides your people with shared life events that translate into loyalty. Your employees will not only perform with greater dedication, you’ll improve retention, keeping your best and brightest.
Return on investment is a key factor when companies are considering incentive travel. With budgets per person for employee travel incentives now edging $4K, ROI matters. Site International reports an ROI of $12.50 for every dollar spent on incentive travel. This is our favorite of the 4 irrefutable reasons to use incentive travel in 2017, because we know that organizations like yours are minding the bottom line. But with incentive travel, it’s proven that your ROI is seen in increased revenues.
This is one of the best reasons to use incentive travel, because the satisfaction of your employees is a key indicator in the success of your enterprise. Satisfied employees are motivated, happy and more likely to stay with you. Behavioral scientist and author, Dan Ariely, ran a study on motivation with a select group of employees. His findings will surprise those of you continuing to place cash incentives over all others. When asked which type of incentive they’d prefer, the control group overwhelmingly rejected cash. They were far more interested in an experiential reward than they were a monetary one. We hope these 4 irrefutable reasons to use incentive travel in 2017 have given you food for thought. Building a quality travel incentive program is as easy as contacting Incentive Travel Group.