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2007-02-14
Incentive travel is generally defined as a management tool used to motivate and/or recognize top performers through an extraordinary travel experience. For example, companies use incentive travel programmes to attract customers, or, in the case of employees, increase productivity or performance quality.
The difference between incentive travel and traditional travel is the aim to create an exceptional experience for the winner. It also helps to build morale and improve communications between the company and its customers or, if it is group travel, among employees. Many companies also combine a meeting with an incentive travel programme.
The average length of incentive travel is 5 days. The company usually provides a complete package for travel, accommodation, food, entertainment, etc. All the expenses are covered by the employer.
Is incentive travel effective? A survey ‘2006 Incentive Travel Buyers Handbook’ carried out by the magazine Incentive shows that 75 percent of respondents find travel incentives a successful tool, with 53 percent noting it as very or extremely effective.
SITE (The Society of Incentive & Travel Executives) Foundation study, Incentives, Motivation & Workplace Performance, revealed that incentive programmes can boost employee performance by anywhere from 25 to 44 percent.
One of the main advantages of travel incentives as compared to cash rewards is its memory value. Nearly 78 percent of respondents to the 2005 Incentive Federation Study say that travel is remembered longer than cash. Moreover, when employees are rewarded with cash bonuses or pay raises, the money is used for everyday type of financial expenses. Meanwhile incentive travel is what employees would probably never buy something like it for themselves.
Depending on the company goals and employee desires, there may be group as well as individual incentive trips. Group travel is often chosen because of the discounts and because it affords the opportunity to fortify the ties among peers or between the company and its customers.
For winners who want to travel independently (which has become a frequent choice) companies have individual incentive travel programmes. Individual incentive travel is a reward to an individual employee or customer plus one more person, sometimes even the immediate family. It differs from traditional group travel awards in that each winner can choose a different destination. Today, the travel industry offers an assortment of pre-packed trips.
More articles about team building and incentive travel: |
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