Everything You Need to Know About Incentive Travel

Everything You Need to Know About Incentive Travel 

Previously, employee rewards included just holiday bonuses as a means of providing year-round motivation. But as the times are changing, non-monetary incentives are becoming more popular. Incentive travel plays a major role in most of the big establishments and is seen as an important subset of the meetings, incentives, conferences, and exhibitions. It is directly related to the company goals and top performers and is an effective travel bonus for incentivising or motivating employees or business partners. It is mainly organized to reward effort and showcase individuals who meet or exceed sales or production goals and create company loyalty.

How do incentive travel programs work?

Incentive travel has been used by highly-established organizations as an effective management strategy. But there is much more diversity in its implementation. However, the basic structure revolves around the employees or resellers meeting a pre-defined goal to qualify for a group trip. These incentives can include anything from annual team-building retreats at a mountain resort or exotic European cruises to fully paid family vacations at luxurious beach clubs. Let us see some of the aspects of rewards fulfilment and incentive travel.

·       Durability

In most companies, the program can last from three to seven days and includes team-building activities, professional networking opportunities as well as free personal time to explore the destination.

·       Expenses

The majority of the expenses are funded by the company and the getaway can be offered to all employees, channel partners, specific departments, or VIP clients. Some of the business travel incentive programs may include just employees while the others will extend invitations to spouses and/or children. The logistics are planned and managed by an in-house or outsourced corporate event planner.

Goals of organising incentive travel programs

Incentive travel is one means that help companies to boost employee buy-in, engagement, and productivity. The primary idea behind these programs is that when employees are highly motivated to increase certain activities, there is a possibility that they will be putting extra effort to hit the target that is largely profitable for the company. It also helps the sales teams to become more successful, but this strategy can be leveraged to address the productivity gaps and tackle some of the issues that require major action.

To sum up

Corporate incentive travel and event planners can help the companies to select some of the best incentive travel destinations and can take care of the entire program, along with the logistic needs. These outsourced services also help in organising a program that is the most suitable for your company's budget and culture, so reach out to us to plan your next event.