Corporate incentive travel is a good strategy to motivate and reward your valuable employees. Incentive travel could be group or individual, as well as the destination could be local or international. But every successful incentive travel program starts with meticulous planning.
The following are guidelines to help you plan a business travel program that suits your company’s culture, size and available budget:
* Determine your corporate incentive program goals. In specific terms, establish exactly what the incentive program should accomplish. This might be an increase in sales, surge in production output or profits, or perhaps a decline in defective products, sales returns or lost contracts. Make sure you assign something to the improvement or reduction – a percentage, absolute number of units or contracts, or a amount.
* Pick the target group for that program. This might be management, employees, salespeople, and even customers.
* Discover what the target’s values, interests and preferences through paper surveys or interviews. Then browse our corporate incentives help guide to match preferences with available packages with your price range.
* Considering past performance and employee behavior, establish reasonable tasks for the target group.
* Be sure to possess a performance tracking system in place having a clear approach to measure incentive program results.
* Brainstorm what obstacles may exist to the success in the incentive travel agents. This might be current employee morale, organizational structure or market conditions.
* Decide if this system is going to be managed internally or outsourced to an agency.
* Understand applicable tax implications. Travel can be taxable to recipients under certain conditions, and special tax forms are usually necessary.
* When selecting a business incentive local travel agency, be sure it agrees to satisfy precisely what is promised for your budgeted cost, and that you understand its cancellation policies.
* At the conclusion of your program, survey winners and non-winners to discover perhaps the program was successful in meeting the target.
Corporate Travel with a Smaller Budget
Even if you can’t afford to whisk your top performers off to Europe with a private jet, you can still reward the employees with incentive travel that they’ll enjoy.
If you’re able to manage to send your team away on a teambuilding retreat, it doesn’t have to be far. Campsites and resorts, even a day over a chartered boat can certainly produce a memorable experience. For individuals, it’s a better idea to transmit your recipient somewhere exotic enough to get memorable. When possible, allowing a spouse or children to accompany your employee is another good plan.
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