Incentive travel rewards are the best ways to show your leadership team that you appreciate their hard work and dedication to your company's success.
However, many sales teams struggle with how to sell incentive travel programs to their leadership, especially when competing with other companies offering highly competitive perks like merchandise or cash bonuses.
Here are a few tips to help you successfully sell incentive travel to your leadership.
Making your sales reps travel across a country or a continent can be daunting, but it's also an effective way to drive business growth.
If you are considering incentive travel to push your salespeople over that revenue-growth hurdle, there are some things you should know first. What is incentive travel? Who travels on incentive trips? How do I make sure my sales team enjoys their rewards trip instead of dreading it? And how do I keep costs under control? We have answers to all these questions and more.
Let us dive in!
Why do we have incentive travel?
We might have a few ideas. The first is that people love rewards and recognition.
Even if you never get on a plane, just thinking about some fun activity—and all those business-related incentives—can be motivating.
When it comes time to sit down and work, your brain is excited by everything that awaits you at your destination.
And as anyone who has done an incentive trip knows, there are plenty of ways to make sure that everyone stays focused while away from home.
But even if there were no such thing as an incentive trip, it would still be essential to recognize top performers with something tangible.
A simple thank-you note can go a long way; so, can lunch with your boss or dinner out with colleagues.
What are our organization's priorities?
It's important to remember that incentive travel is a tool, like all rewards and recognition. If you don't have clear sales goals at your organization, it will be hard to argue why you should invest in an incentive trip or program.
So, before you start selling your ideas internally, make sure your top leadership understands what they want out of an incentive trip—is it better performance? Better business relationships? A more significant share of the wallet?
Have their support behind using incentive travel as a key part of getting there. Then show them how incentives align with those priorities and ask them if they think that might be something they want in their plan. Chances are, they will.
How can incentive travel align with our goals?
To determine whether incentive travel is a good fit, ask yourself how it aligns with your goals. If you're trying to bring a team together and encourage collaboration, incentive travel can be a great way to do that. Are you trying to help leadership become more aware of what's happening on their teams? That's a good reason for incentive travel, too. Does your organization have specific goals tied in with revenue or financial targets? You might find that making corporate-level leaders experience first-hand why hitting those goals is essential could be an effective strategy. The key is to make sure incentive travel complements your overall goals—if not, it may not be worth doing.
How will incentive travel benefit my business area?
Whether you're trying to grow sales or improve customer retention, incentive travel can drive positive change.
This is especially true if your business area has never used incentives before. Remember that it's in your company's best interest to sell your leadership on incentive travel.
It would help if you had their support—and, ultimately, their money—to pull off a successful event. Before approaching them with an incentive trip idea, explain how incentives benefit your business area and why it's worth investing in it now.
For example, say you have an underperforming sales team that makes up 20 percent of total revenue—incentives could be an excellent way to boost those numbers without spending much money.
Use these ideas as inspiration to help your leadership understand incentive travel benefits:
Understanding and Assessing Risk Section
The first thing you have to understand about incentive travel is that it's a significant expense, but it can reap huge rewards if executed correctly.
Assess your company's risk tolerance before making any decisions. Some companies don't allow incentive travel; others take advantage of it, implementing tighter controls on spending and documentation.
If your company doesn't enable incentive travel, keep an eye out: Policies change over time, and they may loosen up to keep employees engaged and committed.
If there's resistance from management, suggest an experimental project with a small number of employees first.
This will allow everyone involved to see how incentive travel impacts performance without risking too much money or too many resources.
It also gives you time to get feedback from participants to make changes ahead of larger projects. And remember: Everyone has their own opinion on incentive travel—but only yours matters when trying to sell them!
Be prepared with data and statistics showing why incentive travel helps productivity, retention rates, and other essential business metrics. Even better?
Show them how their employees feel about incentive trips—many managers are surprised by how much positive feedback they receive after sending their teams away for work!
Just like the name suggests, a President's Club refers to one of the highest levels of ranks one can receive.
This achievement showcases the top-most salespeople in a particular organization.
The concept for President's Club, aka Achiever's Club or Winner's Circle, is not a new one. It was introduced to motivate the top-performing representatives and has spread out to the entire corporate world.
When the stakes are worthwhile to be administered into the Club, it can propel high performing and highly compensated representatives and allow them to go even further than their average performances.
Moreover, when these stakes are utilized well, they can significantly impact the organization's overall performance, providing all the representations, not just the high-performing ones, and an objective to achieve.
The question then arises: When and why should a President's Club be introduced? Well,
A short answer is that it depends on the company's environment and how much focus you want to place on the betterment of the sales team.
However, it is best not to introduce one unless the company has a sales team of at least 30 employees.
Developing a President's Club program for the sales teams will allow you to recognize the achievements of your employees, cultivate a healthy environment in your organization and establish a long-lasting tradition.
If this is your first time creating a President's Club Sales Incentive Program, here are the step-by-step instructions you should follow to develop and execute a program:
These programs are not one-size-fits-all; thus, specific ones are implemented to achieve any number of different goals: motivating the under-performing personnel, subjugating a more significant share of the market, and accelerating sales of particular products.
Such programs are beneficial. They
President's Club can motivate your high-achieving employees by recognizing them as such. They are your earning points, so buying a car or a new TV probably isn't enough to satisfy them. That is why an exciting incentive travel experience is most commonly used.
A President's club travel program does not create an elite crowd of unreachable performers if set up correctly. On the contrary, it encourages every employee to give their best output and perform even better.
Nothing feels better than celebrating your hard-earned break being whisked away to a relaxing, calming tropical island through Incentive Travel.
A sales incentive trip consists of the three 'R's – Relaxation, Recognition, and Reward. One must know that sales roles are incredibly strenuous and stressful, no matter the organization.
Sales employees have to prospect, build relationships, manage opportunities, and perform many other tasks to achieve both short-term and long-term revenue aims. The turnover rates for sale employees are enormous and replacing sales representatives cost companies tons of money each year.
To construct and manage successful sales logistics, companies need to perfect their infrastructure, hiring process, and compensation philosophy. There is a magnitude of reasons why a company can use sales incentive travels.
These reasons could be to stimulate sales of their products and services and recognize the top-performing sales representatives and motivate them and others further.
Many organizations have difficulty developing, promoting, and administering these programs to achieve desired results.
So, the primary question is: how do they work? And how can one set up an effective sales incentive travel program?
Well, This framework consists of five essential elements:
1. Alignment: Alignment refers to an opportunity to promote conjunction between the quota-bearing and non-quota-bearing employees in the functional groups that make up the revenue, perhaps by creating multiple versions of the incentive trips.
2. Transparency: Transparency can do this by creating a calendar with information about the trip, strict deadlines, next year's aims, evaluating and reviewing the previous year's incentive trip, and setting qualifications for the employees to go on next year's trip.
3. Accountability: Accountability can create a clear and concise ownership hierarchy and formal charter. The order can consist of executive leadership, sales, and non-sales stakeholders such as HR and the legal team.
4. Fairness: Fairness refers to setting up attainable sales targets. These targets should be achievable and quantifiable.
5. Connectivity: Connectivity refers to the marketing of the trip – presenting data on a monthly and a quarterly leaderboard and spreading posters around the office. Being part of an establishment that uses sales incentive trips can build teamwork and connections.
Sales incentive trips build such a relationship of friendship in which each employee participates in the celebration of every other employee's successes.
This teamwork leads to more efficient business dealings, which benefit the clients and ultimately benefit the owners, investors, and employees.
These sales incentive trips work. And for a myriad of reasons.
Successful salespeople are achievers and are motivated by winning. These non-monetary trips make you feel like a part of a particular elite group.
Achievers get the opportunity to connect. Being in the same space for some time builds camaraderie amongst the team.
We demonstrate a hallmark of our company. These trips show employees' commitment to the work-life balance and that the company cares about the employee – as an individual.
Create a personal connection with the top-sales performers. There is an intimate connection between the team members leading them to work better.
If we look at the psychological reasons why these sales incentive trips work, it is safe to say that they cover all four motivational factors.
Implementing a reward employee program plays a vital role in promoting employee engagement, which eventually leads to various benefits for the organization. For example, it enhances work efficiency, retention, and productivity. According to a survey, employees stated recognition programs for employees as the most effective way a company can motivate their employees to produce better results.
Rewards programs are highly effective because they give employees the message that their efforts are appreciated. In addition, rewarding for performance is a way to recognize employees’ efforts and keep them focused and motivated to improve.
These rewards and recognition programs push employees to set objectives and work efficiently to reach their goals.
Enough of this chit-chat; let’s look into this blog and discuss the importance of rewards programs.
Providing recognition and rewards programs for employees’ efforts will uplift their morale and stay focused on their job responsibilities. Moreover, these rewards programs promote positive workplace culture and teamwork and give employees an objective. Undoubtedly, when employees receive a reward for achieving their goal, they feel their efforts are valued. As a result, they will feel more motivated and keep working efficiently to achieve good results.
The rewards program plays a vital role in the appreciation of staff. Employees’ satisfaction is essential for an organization’s business objectives, and it happens when you appreciate the work they do. By recognizing their efforts and rewarding them, you show that your company appreciates their hard work. It is the perfect example of employee recognition. Furthermore, it gives employees a feeling of satisfaction and value. Employees who receive appreciation work more efficiently and effectively to achieve their tasks and make the company flourish.
The most impactful benefit is that it encourages healthy competition among employees. Staff will start to share their accomplishments which encourages them to work efficiently. Moreover, when they eventually reach the result, they will feel accomplished, and other employees also make an effort to get to the same place. It allows the organization to share the individual or team’s achievement for a friendly competition to encourage staff to give their utmost effort.
Undoubtedly, workers are more committed to their work when their achievements are appreciated in terms of reward. Moreover, employees work efficiently to achieve their objectives and be more productive. They manage time and apply their knowledge and skills to accomplish their objectives and evaluate the desired results. Employees will work dedicatedly and take pride in it. They are authorized to take responsibility for assigned tasks and are more likely to accomplish them on time. Furthermore, they will ensure that the work is completed efficiently. Employees know that they are being evaluated for performance or receive a reward for their services.
In this era, when businesses implement various strategies to compete in the market, it is essential to apply innovative managerial approaches. These approaches motivate the employees to perform more efficiently. According to a recent study by Incentive Federation, the most effective way to motivate your staff for better performance is the individual travel incentives. Conventionally, many companies have implemented cash reward programs. However, the study is completed by the Center for Concept Development revealed some interesting results. In this study, 540 business professionals have filled out questionnaires. Most of the respondents point out that travel incentives were a more influential motivator than cash or merchandise.
Most of the respondents shared their opinion that travel awards are remembered for an extended period than cash awards or merchandise. The study shows that cash awards come in the remuneration package of employees. Moreover, employees perceived it as earned or owed instead of awarded or won.
Incentive travel is the best way to recognize employees’ performance. It gives a feeling of accomplishment that money cannot or won’t buy. It allows employees for exotic adventures on their travel trips. However, mature people will spend cash on something much more wisely in cash rewards. Investing in the most sought-after merchandise can never give a good feeling of visiting a beautiful destination. It gives the employees a break from daily routines when they visit new places.
The most influential and motivational incentives give the receiver a feeling of getting the reward that no one else in the world (or at least only a few selected) can have the opportunity to receive it. It is because everyone has the same currency in their pocket. However, by rewarding with travel incentives, if you are sending a team of employees to the same place, surely every individual will enjoy a unique experience. So, a travel incentive is an incentive that allows your employees to spend some quality time. It will also help in promoting teamwork culture in the workplace.
Undoubtedly, incentive programs are helpful only if they promote friendly competition in the organization. For example, individuals compete with individuals; teams compete with other teams, or salespeople compete with those who achieve good targets.
Whatever the scenario is; every incentive comes with bragging rights. Therefore, it is essential to implement a truly balance incentive award. Cash and merchandise are lacking because everyone can easily achieve them via ways other than increased productivity.
Group incentive travel promotes a friendly competition that motivates employees to work more efficiently and harder in a team. Moreover, it allows you to make a perfect team of qualifiers. Group travel experience allows top performers to sit with top executives and spend some quality time out-of-office premises. Furthermore, it allows employees to participate in group activities that bring every member closer to a team. This sort of incentive encourages experience and provides an opportunity to celebrate their achievements with their colleagues and executives. Finally, it establishes a bond between the team members that improve the office environment when they return to their job responsibilities.
In today's date, many organizations employ incentive travel programs because these programs motivate the employees and increase their productivity. In fact, according to research by the Incentive Travel Council and Site International Foundation, 96% of employees express travel incentives motivate them. Travel incentives motivate your employees to help achieve business objectives by increasing productivity, enhancing performance, increasing sales, and achieving targets. Moreover, these corporate incentives provide numerous other benefits as well. Generally, companies use travel incentives to motivate their sales force to achieve sales targets.
Let's look into this blog; we will discuss the significance of travel incentive and how it provides ROI for your organization.
Travel incentive is used to support and appreciate the employees. According to the studies, it is one of the significant incentives to motivate staff and increase their productivity to achieve objectives. Giving employees incentive trip work as a motivation for them. It gives the satisfaction to staff that their efforts are appreciated by their organization. Research conducted on 200,000 people, including employees and managers, showed that regarding the question "My company values high performance," the companies that achieve the lowest 25% return on investment of 2.4. However, those in the top 25% had an average return on investment three times high. It shows that the organizations that invest in incentive travel reach higher productivity.
In the United States, businesses suffer the loss of an estimated $11 billion yearly due to staff turnover, according to the stats. 79% of employees who resigned from their jobs mention that "lack of appreciation" is a primary reason for quitting. According to research, travel incentive programs can help to prevent employee turnover. Society for Human Resources Management has revealed in their report that the organizations with recognition programs such as travel incentives have played effectively in retention, engagement, and performance (SHRM/Globoforce, 2012). Furthermore, if employees feel that their company is giving them value and rewards, that will lead to workplace satisfaction. So, it will be a wise decision to invest in travel incentives to appreciate your staff and retain professional employees.
When staff sees that their organization respects and recognizes their efforts, they feel more motivated and become more loyal to the company. Moreover, 72% of staff awarded with travel incentives state they feel more loyal to their organization. In their study, Site International Foundation and the Incentive Travel Council revealed that loyal staff are like ambassadors for your company and will work efficiently to make sure that the organization achieves its objectives.
Travel incentive plays a vital role in relieving the stress of employees. Employees that receive travel incentives feel reduced stress, increased productivity, and more confidence. It will benefit the employees and your organization because your staff will return to work feeling motivated. Moreover, employees will work more efficiently and fulfill their tasks with higher productivity.
When employees go for an incentive trip in a group, it gives an excellent opportunity for teamwork and friendship. During their trip, employees will spend some quality time and memorable experiences together, providing them the opportunity to know each other. After the trip, the employees will have a stronger bond when they start their job responsibilities. Moreover, it will improve the workplace environment, and employees prefer to work as a team. Furthermore, a positive work environment also helps in retaining employees.
In a survey, on a scale of 1 to 10, managers rate the significance of a positive work environment at 8.5. Since the covid-19 pandemic, organizations are now allowing employees to work remotely. Travel incentive gives a chance for employees to meet up with their office colleagues that will help in team-building and bonding.
We have discussed how beneficial it is to provide travel incentives. It can help boost your employees' confidence, increase productivity, and help achieve business objectives. Furthermore, it can also help your organization set productivity standards and adjust strategy according to your business goal. For example, if John achieves the sales target by selling 20 items in a month and Watson only sold 12, John will be eligible for the travel incentive reward. However, now management knows that selling 20 items is an achievable sales target for a month, so it is better to identify John's best strategies and help Watson overcome his weaknesses.
Businesses have to compete with other market players in this challenging work environment. Therefore, it is essential to retain talented employees and increase sales and revenue. Therefore, travel incentive is highly beneficial for companies and worth to invest. Furthermore, travel incentives help you achieve your business objectives and give you a higher return on investment. Moreover, it will motivate employees to boost their confidence and retain skilled staff.
Organizations should make every attempt to retain capable employees and hire those who are proficient in their field as well. Promote a workplace culture that cares for the well-being of staff, and you will see your business flourishing. Moreover, it helps in competing with business rivals with more effective results. Furthermore, nobody wants to leave an organization that appreciates the efforts of its employees. Likewise, everyone wants to join a company that provides incentives to their employees and recognizes their efforts.
Travel Incentive Plans
We are offering travel incentive planning services. From the initial stages to the plan's implementation, we will guide you in every step to implement your desired travel incentive plan. Our travel incentive plans will motivate, engage, and uplift your employees' confidence and boost return on investment for your organization.
Our incentive trips will thrill, engage and inspire your employees and boost long-term ROI for your company. So get our help and opt for the customized incentive plan according to your employees.
We aim to provide the best travel incentive plans designed for the organizations. Contact us today or visit our website incentivetravelgroup.com to learn more about travel incentive programs.
Employee motivation should be your most important goal to sucess. You’ve got a full roster of employees. But do you know who’s doing the heavy lifting?
Not all of them! That’s a sure thing.
It’s tough to keep your staff engaged every minute or every day. Tough. Not impossible. What you need to do to keep all of them as connected as possible to the goal they’re collectively reaching for, is to enhance their motivational instinct.
And that instinct is, primarily, self-interest.
Employee motivation – a veritable gold mine of increased profits – is elusive at times. But with the right strategy, you can get your employees engaged and keep them that way.
Employers can no longer count on fallbacks like pay increases, bonuses and benefits enhancement. Employees don’t get a thrill from those. If you’re a quality employer, your employees are already deriving the monetary benefit of that quality.
It’s no good to tell them they’ll keep their jobs if they perform to expectations. When you’re trying to grow, “doing the minimum” isn’t going to cut it. And this employment market belongs to employees. Their mobility has never been better, especially if they’re highly skilled.
It’s not like they don’t know their value. They’ll head for greener pastures if they’re not getting what they need from your company.
Motivation is speaking to employee self-interest in a more compelling way. That “more compelling way” means putting something on the table to sets off employee pleasure centers.
Travel, for example. Tying your company goals to the dreams and desires of your employees is a proven way to extract from them the kind of top performance and productivity you’re looking for.
The idea of coming out on top and winning an incentive gets the juices flowing, the healthy competition going and motivation sparking.
Employee motivation, when expressly included in company culture as one of its pillars, is an effective model for growing your company by engaging and thus, retaining your star people.
That’s how incentive programs work. When woven into a strong company culture, they send a message of rewards for the kind of work that reaches a little further than what’s expected. When that culture embraces all effort that contributes to growth and success, it becomes a buoyant reality that raises the level of employee engagement and stems turnover.
A quality incentive program which taps into the dreams and desires of employees is where your gold mine of increased profits begins. With exceptional ROIs which leave monetary incentives and rewards in the dust, travel incentives serve to hit employees where they live – offering them something extraordinary in return for their best effort.
With more than 2 decades creating quality incentives and incentive programming for companies like yours, Incentive Travel Group is your outsourced solution to unlocking employee motivation.
We help take your operation to the next level without burying your existing human resources. Instead, we’re an extension of what you’ve got on board, bringing you a professional incentive solution.
Ready to go for gold? Contact us.
If your enterprise is situated in the retail sector, you’ll be aware that almost all your employees (95%) are paid hourly. What’s more, your workforce is diverse, employing people from many different demographics, from high school students to seniors supplementing their pension incomes. So, how do you make everybody happy? How do you inspire your workers with incentive programs for the hourly workforce?
Here are some basic guidelines.
Your best bet with lower cost incentives is to include everyone. Even if you’re a Main Street mom and pop store, you can invite your employees to celebrate a great month by hosting a pizza party, or providing them with gift cards, as a way of thanking them.
A monthly birthday celebration for all employees having a birthday in the same month is another good way to show your appreciation.
Considerate gestures like providing snacks and coffee in the break room is another winning strategy. Instead of giving them one small break at noon, give them a little more time and some great snacks. Instead of going out to buy a bite, they can relax on-site and feel catered to by their employer.
Plan events that will interest your staff. Invite a speaker to talk about the finer points of customer service or display strategies that boost sales at the point of purchase.
Plan meals out together, “just because”. These can be tied to a seasonal event, or just be a picnic in a local park with games for employee families, burgers, and hot dogs. It doesn’t need to be fancy to build team spirit and loyalty.
Get your employees involved in your sponsorship efforts. Give them discounted tickets to local events like hockey games and new film releases. Little gifts like this encourage your employees and show them that you’re thinking of them.
If you can manage this one, bonuses and other fiscal perks never go out of style. Just remember - be fair. Include your entire staff and base your incentives on goals that aren’t too far out or unattainable. And tie those goals to company growth, so they have a purpose that is easily discernable.
To be avoided: favoritism. That’s actionable under the law and awarding bonuses and other money-based rewards this way can land you in hot water.
Base bonuses on yearly, average salary, or choose things like years of service to award bonuses, or sales figures for the year. Also, time off with pay is a highly prized incentive your employees will love you for.
Incentive programs for the hourly workforce don’t need to be unduly complicated. They just need to do their job. Think carefully about who your employees are. A best practice in this regard is to survey them to find out what they’d like to see.
Incentive Travel Group is your source for all kinds of incentive and rewards programs. For over 20 years, we’ve been raising the bar in the sector. Contact us to get the incentives edge.