Corporate incentive travel is an excellent strategy to motivate and reward your valuable employees. Incentive travel may be group or individual, and the destination can be local or international. But every successful incentive travel program begins with meticulous planning.
Listed below are tips 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 just what the incentive program should accomplish. This can be more sales, increase in production output or profits, or even a reduction in defective products, sales returns or lost contracts. Be sure you assign a price for the improvement or reduction – a percentage, absolute amount of units or contracts, or even a dollar figure.
* Select the target group to the program. This might be management, employees, salespeople, or even customers.
* Find out what the target’s values, interests and preferences through paper surveys or interviews. Then browse our corporate incentives self-help guide to complement preferences with available packages inside your budget.
* Considering past performance and employee behavior, establish reasonable tasks to your target group.
* Be sure to possess a performance tracking system in place with a clear way to measure incentive program results.
* Brainstorm what obstacles may exist towards the success of the incentive travel. This might be current employee morale, organizational structure or market conditions.
* Determine whether the program will likely 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 may be needed.
* When choosing a business incentive local travel agent, be sure it agrees to meet what is promised on your budgeted cost, so that you understand its cancellation policies.
* At the end of your program, survey winners and non-winners to determine whether the program was successful in meeting the objective.
Corporate Travel on the Smaller Budget
Although you may can not afford to whisk your top performers away to Europe on a private jet, you may still reward your employees with incentive travel they can enjoy.
When you can find the money to send your team away with a teambuilding retreat, it won’t need to be distant. Campsites and resorts, obviously any good day on a chartered boat can create a memorable experience. For those, it’s a better idea to transmit your recipient somewhere exotic enough to be memorable. If at all possible, allowing a spouse or children to accompany your employee is also a wise decision.
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