Corporate incentive travel is a good strategy to motivate and reward your valuable employees. Incentive travel might be group or individual, as well as the destination might be local or international. But every successful incentive travel program starts off with careful planning.
Listed below are tips to help you plan a corporate travel program that suits 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 can be an increase in sales, rise in production output or profits, or a reduction in defective products, sales returns or lost contracts. Make sure you assign a value for the improvement or reduction – a part, absolute amount of units or contracts, or a amount.
* Choose the target group for the program. This can be management, employees, salespeople, or even customers.
* Find out what the target’s values, interests and preferences through paper surveys or interviews. Then browse our corporate incentives guide to match up preferences with available packages inside your budget.
* Considering past performance and employee behavior, establish reasonable tasks to your target group.
* Ensure you have a performance tracking system available with a clear method to measure incentive program results.
* Brainstorm what obstacles may exist towards the success in the corporate and incentive travel. This could be current employee morale, organizational structure or market conditions.
* See whether the program will be managed internally or outsourced with an agency.
* Understand applicable tax implications. Travel might be taxable to recipients under certain conditions, and special tax forms are usually necessary.
* When selecting a company incentive local travel agency, be sure it agrees in order to meet precisely what is promised on your budgeted cost, and that you understand its cancellation policies.
* At the conclusion of your program, survey winners and non-winners to find out if the program was successful in meeting the goal.
Corporate Travel on a Smaller Budget
Even if you cannot afford to whisk your top performers away to Europe on a private jet, you may still reward the workers with incentive travel that they’ll enjoy.
If you’re able to find the money to send your team away on the teambuilding retreat, this doesn’t happen must be a long way away. Campsites and resorts, a day with a chartered boat can create a memorable experience. For people, it’s a better idea for you your recipient somewhere exotic enough to become memorable. Whenever possible, allowing a spouse or children to accompany your employee can be another good option.
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