Corporate incentive travel is an excellent way to motivate and reward your valuable employees. Incentive travel might be group or individual, and also the destination might be local or international. But every successful incentive travel program begins with careful planning.
Listed below are ideas to help you plan a corporate 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 can be more sales, boost in production output or profits, or perhaps a decrease in defective products, sales returns or lost contracts. Make sure you assign a worth towards the improvement or reduction – a share, absolute variety of units or contracts, or perhaps a dollar figure.
* Choose the target group for that 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 guide to complement preferences with available packages inside your budget.
* Considering past performance and employee behavior, establish reasonable tasks on your target group.
* Be sure to have a performance tracking system in place which has a clear strategy to measure incentive program results.
* Brainstorm what obstacles may exist on the success in the individual incentive. This might be current employee morale, organizational structure or market conditions.
* Determine whether this system will likely be managed internally or outsourced to an agency.
* Understand applicable tax implications. Travel could be taxable to recipients under certain conditions, and special tax forms may be needed.
* When picking a corporate incentive local travel agency, be sure it agrees to satisfy what exactly is promised for the budgeted cost, so that you understand its cancellation policies.
* After your program, survey winners and non-winners to ascertain whether or not the program was successful in meeting the objective.
Corporate Travel on a Smaller Budget
Even though you do not want to whisk your top performers away to Europe over a private jet, you can still reward your employees with incentive travel they can enjoy.
If you can manage to send your team away over a teambuilding retreat, it won’t need to be far away. Campsites and resorts, even a day with a chartered boat can produce a memorable experience. For folks, it’s really a better idea to deliver your recipient somewhere exotic enough to be memorable. When possible, allowing a spouse or children to accompany your employee is a good idea.
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