Corporate incentive travel is a great way to motivate and reward your valuable employees. Incentive travel might be group or individual, and the destination may be local or international. But every successful incentive travel program starts off with meticulous planning.
Listed here are guidelines 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 an increase in sales, rise in production output or profits, or possibly a decline in defective products, sales returns or lost contracts. Make sure to assign a price on the improvement or reduction – a percentage, absolute amount of units or contracts, or possibly a amount.
* Choose the target group for that program. This may 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 match up preferences with available packages in your cost range.
* Considering past performance and employee behavior, establish reasonable tasks for the target group.
* Make sure you have a very performance tracking system set up which has a clear approach to measure incentive program results.
* Brainstorm what obstacles may exist to the success from the incentive travel agent. This might be current employee morale, organizational structure or market conditions.
* See whether the program will probably be managed internally or outsourced to a agency.
* Understand applicable tax implications. Travel could be taxable to recipients under certain conditions, and special tax forms may be required.
* When selecting a company incentive travel company, be sure it agrees in order to meet what is promised for your budgeted cost, and you understand its cancellation policies.
* After your program, survey winners and non-winners to determine if the program was successful in meeting the objective.
Corporate Travel on the Smaller Budget
Although you may can’t afford to whisk your top performers off to Europe over a private jet, you could still reward your employees with incentive travel they can enjoy.
If you can find the money to send your team away with a teambuilding retreat, this doesn’t happen need to be a long way away. Campsites and resorts, even a day on the chartered boat can make a memorable experience. For individuals, it’s actually a better idea to deliver your recipient somewhere exotic enough to be memorable. Whenever possible, allowing a spouse or children to accompany your employee is a good option.
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