Corporate incentive travel is a good way to motivate and reward your valuable employees. Incentive travel may be group or individual, and the destination could be local or international. But every successful incentive travel program begins with careful planning.
Listed here are ideas to help you plan a corporate travel program which fits your company’s culture, size and available budget:
* Determine your corporate incentive program goals. In specific terms, establish just what the incentive program should accomplish. This can be more sales, surge in production output or profits, or even a reduction in defective products, sales returns or lost contracts. Make sure you assign a price towards the improvement or reduction – a share, absolute quantity of units or contracts, or possibly a amount.
* Find the target group to the program. This might be management, employees, salespeople, as well as customers.
* Find what the target’s values, interests and preferences through paper surveys or interviews. Then browse our corporate incentives self-help guide to go with preferences with available packages with your budget.
* Considering past performance and employee behavior, establish reasonable tasks for your target group.
* Ensure you have a performance tracking system in place with a clear method to measure incentive program results.
* Brainstorm what obstacles may exist to the success with the individual incentive. This can be current employee morale, organizational structure or market conditions.
* Determine whether this system will probably be managed internally or outsourced to an agency.
* Understand applicable tax implications. Travel might be taxable to recipients under certain conditions, and special tax forms are usually necessary.
* When picking a company incentive travel company, be sure it agrees to fulfill what exactly is promised on your budgeted cost, so you understand its cancellation policies.
* Following your program, survey winners and non-winners to find out perhaps the program was successful in meeting the target.
Corporate Travel over a Smaller Budget
In case you can’t afford to whisk your top performers away to Europe with a private jet, you could still reward the employees with incentive travel they can enjoy.
When you can afford to send your team away on a teambuilding retreat, it won’t must be far away. Campsites and resorts, even a day on a chartered boat can produce a memorable experience. For individuals, it is a better idea to deliver your recipient somewhere exotic enough to get memorable. If at all possible, allowing a spouse or children to accompany your employee is also a good option.
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