Corporate incentive travel is a good strategy to motivate and reward your valuable employees. Incentive travel can be group or individual, and also the destination can be local or international. But every successful incentive travel program starts with careful planning.
Listed below are tips to help you plan a business travel program that matches your company’s culture, size and available budget:
* Determine your corporate incentive program goals. In specific terms, establish exactly what the incentive program should accomplish. This may be a boost in sales, increase in production output or profits, or even a lowering of defective products, sales returns or lost contracts. Be sure you assign a worth to the improvement or reduction – a percentage, absolute variety of units or contracts, or even a dollar figure.
* Find the target group for that program. This may be management, employees, salespeople, or perhaps 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 inside your budget range.
* Considering past performance and employee behavior, establish reasonable tasks for your target group.
* Make sure you have a performance tracking system set up having a clear method to measure incentive program results.
* Brainstorm what obstacles may exist to the success with the incentive traveller. This might be current employee morale, organizational structure or market conditions.
* Decide if this software will be managed internally or outsourced with an agency.
* Understand applicable tax implications. Travel can be taxable to recipients under certain conditions, and special tax forms are usually necessary.
* When selecting a company incentive travel company, ensure it agrees to meet what is promised to your budgeted cost, and that you understand its cancellation policies.
* At the conclusion of your program, survey winners and non-winners to determine whether the program was successful in meeting the goal.
Corporate Travel with a Smaller Budget
Even though you cannot afford to whisk your top performers away to Europe on the private jet, you can still reward the employees with incentive travel that they can enjoy.
If you possibly could manage to send your team away on the teambuilding retreat, it does not must be a long way away. Campsites and resorts, a good day with a chartered boat can make a memorable experience. For folks, it’s a better idea to transmit your recipient somewhere exotic enough to become memorable. If possible, allowing a spouse or children to accompany your employee is a good option.
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