There's a good reason why the incentive travel industry has burgeoned into a multi-billion dollar industry: incentives schemes work and deliver results.
That, however, does not mean that a group incentive travel program is the magic formula that you are looking for to elevate the performance of your employees and make your business grow further.
In order to fully reap the benefits of a travel incentive program, there are several crucial factors that need to be considered.
Inclusiveness and motivation
Businesses that have successfully implemented incentive programs and gained several benefits from these understand that the overall goal is not to simply see a few people turn in outstanding performance. Rather, these businesses saw that in order to sustain long-term performance, it is necessary to create a program that recognizes and rewards not only the top performers, but even other employees who have contributed greatly to the company’s ability to achieve its desired results.
But how do you achieve this? The best approach toward making an incentive program more inclusive is to structure it to become multi-tiered. This means that the year's top performers get bigger rewards. Other key performers and their contributions are not ignored. Rather, they are rewarded, albeit with lesser prizes. The goal here is to recognize every member of the organization as a valuable member who has the capacity to contribute.
Equipping your personnel
Incentive programs often require members of the organization to put more effort into achieving a specific goal, to operate beyond the proverbial box.
But sometimes, employees cannot achieve the goals set out for them by simply relying on the tools that are currently available to them. Thus, the organization, for its part, should provide team members with the necessary tools that will allow them to elevate their performance.
Choosing the right type of incentive
Choosing the right reward for your employees is a crucial ingredient for success. One key mistake business organizations make is to opt for rewards that may seem economical but actually undermine the program itself and, in turn, the reception of team members.
The best work-around here is to involve employees right from the start. If cost is an issue, the program can be structured in such a way that it pays for itself by generating additional income which can be used for the incentive scheme.
Getting expert help
It may be tempting to do everything in-house. However, designing, planning and implementing an incentive scheme can be a complex and time-consuming endeavor. Furthermore, the wrong decisions and actions can potentially undermine your team’s effort and even defeat the purpose of implementing such a program.