Corporate incentive travel is a great strategy to motivate and reward your valuable employees. Incentive travel could be group or individual, and the destination could be local or international. But every successful incentive travel program starts with meticulous 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 a boost in sales, surge in production output or profits, or perhaps a decline in defective products, sales returns or lost contracts. Make sure you assign a value to the improvement or reduction – a percentage, absolute amount of units or contracts, or even a amount.
* Pick the target group for that program. This could 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 guide to complement preferences with available packages within your price range.
* Considering past performance and employee behavior, establish reasonable tasks for your target group.
* Ensure you have a performance tracking system available which has a clear method to measure incentive program results.
* Brainstorm what obstacles may exist for the success of the incentive traveller. This might be current employee morale, organizational structure or market conditions.
* See whether this software will likely be managed internally or outsourced for an agency.
* Understand applicable tax implications. Travel can be taxable to recipients under certain conditions, and special tax forms are usually necesary.
* When deciding on a company incentive travel company, ensure it agrees to fulfill what is promised to your budgeted cost, so you understand its cancellation policies.
* At the conclusion of your program, survey winners and non-winners to discover if the program was successful in meeting the objective.
Corporate Travel over a Smaller Budget
Even though you cannot afford to whisk your top performers away to Europe on the private jet, you could still reward your workers with incentive travel they can enjoy.
When you can afford to send your team away on the teambuilding retreat, it does not have to be far. Campsites and resorts, obviously any good day on a chartered boat can produce a memorable experience. For individuals, it is a better idea to deliver your recipient somewhere exotic enough being memorable. If at all possible, allowing a spouse or children to accompany your employee is another good idea.
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