Corporate incentive travel is a great method to motivate and reward your valuable employees. Incentive travel can be group or individual, and the destination may be local or international. But every successful incentive travel program starts off with careful planning.
Listed here are guidelines to help you plan a corporate travel program that suits your company’s culture, size and available budget:
* Determine your corporate incentive program goals. In specific terms, establish what the incentive program should accomplish. This may be a rise in sales, increase in production output or profits, or even a reduction in defective products, sales returns or lost contracts. Make sure you assign a price to the improvement or reduction – a part, absolute variety of units or contracts, or possibly a dollar figure.
* Pick the target group for that program. This may be management, employees, salespeople, or perhaps customers.
* Uncover what the target’s values, interests and preferences through paper surveys or interviews. Then browse our corporate incentives help guide to go with preferences with available packages within your cost range.
* Considering past performance and employee behavior, establish reasonable tasks to your target group.
* Ensure you possess a performance tracking system available which has a clear strategy to measure incentive program results.
* Brainstorm what obstacles may exist towards the success from the travel incentive. This can be current employee morale, organizational structure or market conditions.
* Evaluate if this system will be managed internally or outsourced to an agency.
* Understand applicable tax implications. Travel could be taxable to recipients under certain conditions, and special tax forms are usually necesary.
* When deciding on a business incentive travel company, make certain it agrees to fulfill precisely what is promised for the budgeted cost, so you understand its cancellation policies.
* Following your program, survey winners and non-winners to determine whether or not the program was successful in meeting the objective.
Corporate Travel over a Smaller Budget
In case you do not want to whisk your top performers away to Europe over a private jet, you could still reward the workers with incentive travel that they may enjoy.
If you possibly could afford to send your team away over a teambuilding retreat, it won’t should be far. Campsites and resorts, a day with a chartered boat can make a memorable experience. For individuals, it is a better idea to send your recipient somewhere exotic enough to be memorable. If possible, allowing a spouse or children to accompany your employee is a good plan.
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