If you feel that your employees urgently need a major motivation boost, you’re not alone. Across the world, companies and their people are suffering from sagging employee motivation. A McKinsey survey even showed that employee morale has gone down for almost half of the businesses respondents.
If unaddressed, the situation can cause significant damage to affected companies, especially now that the economic downturns and increasing competition in the market can deliver more than the usual challenges to businesses.
So the question that every company (regardless of size, industry, location and stature) should ask themselves today is: What are the most effective ways to increase employee motivation? Group incentive travel may be able to help.
As you know by now, cold cash is probably not the right and long-term answer. The types of incentives that work best are those that offer experiences instead of financial rewards. But for the incentives to deliver measurable results, the company has to choose the experience incentives that will really be relevant and meaningful for its people.
Travel, statistics say, is actually the most effective form of incentiveof all. Group incentive travel programs can be a way for your key employees to bond and strengthen group dynamics. At the same time, a well-chosen destination is also an opportunity for them to relax, unwind or go on once-in-a-lifetime adventures. That’s why it’s often considered a win-win solution for both employee and employer.
Companies that were able to establish a solid, strategy-aligned and cost-efficient group incentive travel program report the following returns:
It is important, however, to ensure that the incentives program you carry out is backed by a solid structure. While group travels have produced great results for many companies, poorly managed travel incentive programs have also led to serious financial losses and even dismal morale in the workforce. Make sure to work with trusted corporate travel consultants, so you can choose the solutions that will truly work for you and your valued employees.