Corporate incentive travel is a good strategy to motivate and reward your valuable employees. Incentive travel might be group or individual, along with the destination could be local or international. But every successful incentive travel program commences with careful planning.
The following are tips to help you plan a business travel program that fits 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 might be an increase in sales, rise in production output or profits, or perhaps a reduction in defective products, sales returns or lost contracts. Make sure you assign a price to the improvement or reduction – a percentage, absolute variety of units or contracts, or perhaps a dollar figure.
* Find the target group for that program. This can be management, employees, salespeople, as well as customers.
* Discover what the target’s values, interests and preferences through paper surveys or interviews. Then browse our corporate incentives help guide complement preferences with available packages in your budget.
* Considering past performance and employee behavior, establish reasonable tasks for the target group.
* Ensure you use a performance tracking system set up with a clear strategy to measure incentive program results.
* Brainstorm what obstacles may exist for the success in the corporate and incentive travel. This could be current employee morale, organizational structure or market conditions.
* Decide if this program 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 choosing a business incentive local travel agent, be sure it agrees to satisfy what’s promised for the budgeted cost, so that you understand its cancellation policies.
* At the conclusion of your program, survey winners and non-winners to ascertain if the program was successful in meeting the objective.
Corporate Travel with a Smaller Budget
Even if you do not want to whisk your top performers off to Europe on the private jet, you can still reward the workers with incentive travel that they may enjoy.
When you can find the money to send your team away over a teambuilding retreat, it doesn’t have to be far. Campsites and resorts, even a day on the chartered boat can produce a memorable experience. For people, it’s a better idea to send your recipient somewhere exotic enough to be memorable. If at all possible, allowing a spouse or children to accompany your employee is another wise decision.
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