Corporate incentive travel is a superb strategy 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 below are guidelines to help you plan a company travel program which fits your company’s culture, size and available budget:
* Determine your corporate incentive program goals. In specific terms, establish what are the incentive program should accomplish. This may be an increase in sales, rise in production output or profits, or a lowering of defective products, sales returns or lost contracts. Make sure to assign a value to the improvement or reduction – a percentage, absolute variety of units or contracts, or perhaps a dollar figure.
* Select the target group to the program. This can 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 self-help guide to match preferences with available packages within your cost range.
* Considering past performance and employee behavior, establish reasonable tasks for your target group.
* Make sure you have a performance tracking system available with a clear strategy to measure incentive program results.
* Brainstorm what obstacles may exist to the success in the incentive travel company. This might be current employee morale, organizational structure or market conditions.
* See whether this system will probably be managed internally or outsourced to a agency.
* Understand applicable tax implications. Travel can be taxable to recipients under certain conditions, and special tax forms may be required.
* When picking a company incentive local travel agent, make sure it agrees to fulfill what’s promised for the budgeted cost, and that you understand its cancellation policies.
* At the conclusion of your program, survey winners and non-winners to ascertain whether or not the program was successful in meeting the goal.
Corporate Travel on a Smaller Budget
In case you do not want to whisk your top performers away to Europe on a private jet, you can still reward your workers with incentive travel that they’ll enjoy.
If you’re able to manage to send your team away over a teambuilding retreat, this doesn’t happen have to be a long way away. Campsites and resorts, a day with a chartered boat can certainly produce a memorable experience. For people, it is a better idea to transmit your recipient somewhere exotic enough to become memorable. If at all possible, allowing a spouse or children to accompany your employee can be another good idea.
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