Corporate incentive travel is a great strategy to motivate and reward your valuable employees. Incentive travel could 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 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 just what the incentive program should accomplish. This might be an increase in sales, rise in production output or profits, or possibly a decrease in defective products, sales returns or lost contracts. Be sure to assign a worth to the improvement or reduction – a portion, absolute number of units or contracts, or a amount.
* Find the target group for that program. This could be management, employees, salespeople, and even customers.
* Uncover what the target’s values, interests and preferences through paper surveys or interviews. Then browse our corporate incentives self-help guide to match preferences with available packages in your cost range.
* Considering past performance and employee behavior, establish reasonable tasks for the target group.
* Ensure you have a performance tracking system in place with a clear way to measure incentive program results.
* Brainstorm what obstacles may exist to the success with the individual incentive. This might be current employee morale, organizational structure or market conditions.
* See whether this program will likely 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 needed.
* When picking a business incentive travel company, make certain it agrees to meet what exactly is promised for your budgeted cost, and 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 goal.
Corporate Travel with a Smaller Budget
Even though you can’t afford to whisk your top performers away to Europe over a private jet, you may still reward the workers with incentive travel that they can enjoy.
When you can manage to send your team away on a teambuilding retreat, it won’t must be distant. Campsites and resorts, obviously any good day on the chartered boat can produce a memorable experience. For people, it is a better idea to deliver your recipient somewhere exotic enough to become memorable. When possible, allowing a spouse or children to accompany your employee is also a good option.
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