Corporate incentive travel is a great method to motivate and reward your valuable employees. Incentive travel might be group or individual, and also the destination can be local or international. But every successful incentive travel program starts off with careful planning.
Listed here are tips to help you plan a company travel program that matches 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 could be an increase in sales, boost in production output or profits, or even a reduction in defective products, sales returns or lost contracts. Be sure to assign a price on the improvement or reduction – a percentage, absolute variety of units or contracts, or a amount.
* Pick the target group for the program. This could 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 go with preferences with available packages within your price range.
* Considering past performance and employee behavior, establish reasonable tasks for the target group.
* Make sure you have a performance tracking system set up using a clear strategy to measure incentive program results.
* Brainstorm what obstacles may exist on the success in the travel incentive. This might be current employee morale, organizational structure or market conditions.
* Decide if this system is going to be managed internally or outsourced with an agency.
* Understand applicable tax implications. Travel could be taxable to recipients under certain conditions, and special tax forms may be needed.
* When selecting a company incentive travel company, be sure it agrees to fulfill precisely what is promised to your budgeted cost, so you understand its cancellation policies.
* After your program, survey winners and non-winners to ascertain whether the program was successful in meeting the target.
Corporate Travel over a Smaller Budget
Even though you do not want to whisk your top performers off to Europe over a private jet, you could still reward your employees with incentive travel that they’ll enjoy.
If you can find a way to send your team away on the teambuilding retreat, this doesn’t happen should be far away. Campsites and resorts, a day over a chartered boat can create a memorable experience. For people, it’s really a better idea to send your recipient somewhere exotic enough to get memorable. If possible, allowing a spouse or children to accompany your employee is a wise decision.
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