Why Are Organizations Joining In On The Incentive Travel Comeback?
Incentive programs are used by companies to promote organizational values, generate desired behaviors, boost participation, and foster loyalty among individuals or teams. Several companies use this motivational approach as a customer reward program as well. Positive recognition can reinforce certain behaviors and works as a retention technique among employees or customers. Travel options offer these continued benefits:
Increased Profit Margins
Improved Work Atmosphere
A business has two choices when implementing a program to motivate individuals toward a specific goal or action. The reward can be monetary or tangible depending on the frequency of goal achievement and organizational preferences. Monetary awards, while effective over a short time frame, do not provide the extended results experienced with travel alternatives. Small tangible awards such as a coffee mug or leather briefcase do not create the drive needed for enhanced productivity and work ethics. These factors have caused an incentive travel comeback as organizations begin to recognize the lack of motivation among their employees and the need to entice continued consumer loyalty.
Using an Incentive Travel Company to Increase Investment Value
The travel approach was put on the back burner for a while by various businesses due to the heightened negative attitudes created by the AIG incident during the beginnings of the recession. AIG was in the process of requesting government funding as they continued to take an employee retreat costing a large sum of money. The negative publicity resulting from this incident caused programs to be cut back or eliminated altogether by organizations. With the economy coming back and employee motivation still at a low, countless companies are deciding to bring the concept back. An incentive travel company can help in the planning of these trips to make certain the created plan matches the organizational purpose.
Experts assist with meeting cost aspects, setting up an itinerary based on the desired goals, and provide guidance throughout implementation to create a more rewarding experience for everyone involved. How can this type of inspirational approach be put to work for a business? Choosing a unique destination is the first step in making travel awards a success. A location such as Fiji or Tuscany can really entice an individual or team to go the extra mile. These destinations are difficult for many to see due to financial, time, and situational constraints. When a business offers something seen as otherwise unobtainable, individuals are compelled to do what is needed to have the chance of receiving it.
An exceptional itinerary is another must when making this leap toward better motivated employees or loyal customers and is easy to set up with a reputable incentive travel company. The previous events of AIG caused countless businesses to tighten the reins on these programs in an effort to make them justifiable. An itinerary with a charitable occasion, a meeting, or additional event based on the objectives makes it easy to explain this type of investment. The Incentive travel comeback has been proven by multiple studies to generate a greater amount of involvement from participants. An experienced and trustworthy company can be a great resource for guaranteeing program success.