Incentive travel is a good way of recognizing the top performers in your company. The recognition can encourage better performance, which always leads to better results for your business. The Incentive Research Foundation reveals that one result could mean 112.5 percent in generated ROI, provided you have a well-designed incentive program.
A well-designed incentive travel program isn’t going to cost more than it’s worth. With expertise and guidance from travel incentive companies, you could explore savings opportunities. Here’s how they do it:
They help develop measurable programs through satisfaction surveys and retention analysis.
Before you can make decisions on spending, you need to know how your existing incentive travel program is working. Travel incentive firms can help you discover if, for example, the expensive quarterly sales meeting overseas has delivered on satisfaction, engagement, and retention.
If it’s only slightly improved sales targets or if participation has gone down progressively, you might need to change the location or how the incentive is promoted. Knowing the impact of your incentive travel program will guide you toward making the strategic changes it needs.
The right incentive travel agency can leverage its connections to suppliers and negotiate better rates.
Hotels, airlines, tour services, and other suppliers related to your incentive travel program will eat into your budget. You want to offer the best accommodations and activities but without breaking the bank. And you don’t necessarily want to choose the cheapest options because they might not yield the ideal experiences.
An incentive travel agency can negotiate better rates on your behalf. The incentive travel experts may get your company complimentary items for your trip, like free Wi-Fi and A/V equipment for your meetings. The negotiation may also lead to discounts for food and beverage or tours included in your trip.
Incentive travel agencies are up-to-date on the best practices.
Should your incentive travel have a business component or not? Would you get more results out of your employees if you upgraded their trips to include families? Every incentive travel program is different; what works for another company, in terms of cost savings, might not work for your company.
The right incentive travel company will guide you toward the ideal solution for your business.
Incentive trips will cost a lot of money. But they will deliver great returns, as long as your incentive travel program is designed for savings and success. Don’t leave any of it to chance. Hire the experts. Hire an incentive travel agency.