Travel Incentive Programs : Trends That Work Today

Travel as incentive has become not just a nice-to-have feature of a company rewards program. In the past several years, it has also been counted as an essential component for motivating and rewarding top performance from employees. But as the business and workforce environment experience drastic changes today, travel incentive programs are undergoing a major shift, too. Businesses wanting to develop the right rewards strategy for their team should get to know the prevailing trends and concepts and understand how these can be relevant to their programs. Travel incentives are still as powerful as ever.The concept of being rewarded an experience of a lifetime (via travel) is still a much more motivating offer compared to cold cash. One study reveals that 77% of employees in the U.S. consider a trip to a desirable destination with a loved one as a positive incentive. Research also indicates that there is a return of $3 to $5 on the business bottom line for every dollar spent on incentive travel. Companies have become more cost-conscious about travel incentives.The era of the five-star fancy corporate vacation (especially if the agency is state-owned and funded by taxpayer money) is over. Aside from being criticized for these lavish practices some years ago, companies now also learned that travel doesn’t have to be mindlessly expensive to be memorable and meaningful. More creative itineraries are gaining popularity. While the hotel resort package is still the mainstream, more and more companies are looking at the path less traveled, and their employees are appreciating them for it. Depending on the demographics of your workforce, a food-and-wine tour, a family-oriented stay cation or a yoga retreat can be much more fun for them than staying in a fancy hotel. “Multitasking” incentive trips offer higher potential ROI.Some companies have managed to design incentive trips that are more than just rewards, but also an opportunity for professional development.Just allotting one day of the trip for a relevant activity, such as a day with a well-loved executive or a one-day top-tier leadership or skills development class with certification, can make the trip much more impact-full. Outsourcing the program is now a recommended strategy. Global and local trips may have become more accessible and cheaper, but also more complicated. For many business leaders, getting help from a travel incentive program specialist ensures every trip to be well-organized, within budget and consistently connected to the organization’s strategic plans.

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Testimonials

  • Evan Polin
    Sandler Training

    "I've been working with Bruce and his team on two projects and they've been great to work with. Bruce has helped us set up a referral/incentive program for us to roll out with our clients and strategic partners. Bruce was great to work with. He's set up a 7 tier program that allows for flexibility and he's also helped us to market the program."

  • Kevin O'Keefe
    Vice President World Wide Sales, Maginatics, Inc.

    "Beverly arranged and managed the early Envivio Sales incentive trips for us. Each of our events was an outstanding and motivating experience Our Sales team appreciated the attention to detail and to fun. Qualifying for the "trip" was a motivating factor behind many end of year sales pushes. I will use Beverly again in the future."

  • Mickey Poorman
    Laird Technologies

    "Peak Performance’s attention to detail and personal service made me feel like I had a true corporate meeting planning partner that I could rely on throughout the planning process right up until I was on site. I look forward to doing more meetings with them."

  • Marco Lopez
    C& J Energy Services, Inc

    "I have used your services two years in a row and you all have made my vacation a great one. You have the most helpful and considerate employees. Always very friendly, respectful and willing to make my travel experience a good one. Thank you and keep up the great job."

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