Incentive trips have long been used by companies as rewards for outstanding performance; and for good reason â€“ they work! Time and time again, organizations have seen the positive effects that incentive travel can have on the bottom line, and as the economy has improved over the last several years, incentive eventsÂ are increasingly used to bolster both the employee and the organization.
How does incentive travel help an organization prosper?
Covington Meetings & EventsÂ hasÂ identified nine ways that incentive travel positively affects the performance of a company:
- Motivates employees to achieve established goals â€“ Thereâ€™s something to be said for the old adage â€śA carrot works better than a stick.â€ť The opportunity to be included in an all-expenses paid vacation is a great carrot that employees will work to achieve.
- Lets employees know they are valued and appreciated â€“ Positive recognition is one of the best ways to reinforce desired behaviors. Inviting top producers to participate in a trip sends the message, â€śYouâ€™re important to the company and we admire your contribution.â€ť
- Maintains company loyalty â€“ Employees see that the business respects their efforts, which in return engenders allegiance. They take pride in the relationship and become more dedicated to the organization.
- Helps with employee retention â€“ The opportunity to win a fun-filled trip is a strong inducement to stay on board. Satisfied employees turn a blind eye to the competition. In addition, a travel break gives them time to distress and recharge, making them happier at work upon return.
- Gives employees a lasting memory â€“ Incentive trips often have special activities and unique experiences that an employee couldnâ€™t or wouldnâ€™t do on their own. Great travel memories can be recounted over and over, lasting a lifetime.
- Increases sales or profits â€“ When an organization sets measurable goals to qualify for the incentive trip, employees are motivated to achieve those goals. When the employees goals are tied to an increase in corporateÂ sales or profits, the bottom line benefits.
- Promotes team building â€“ Traveling as a group, sharing fun experiences and dining together develops camaraderie. When employees are back at the workplace, they can relate to one another on a more personal level.
- Establishes benchmarks for productivity â€“ If John sells six widgets a month andÂ Bob only sells two, then John will get to go on the trip. But management now knows that selling six widgets a month is an achievable goal, so they can identify Johnâ€™s best practices and help Bob bring his sales up to par.
- Increases customer retention â€“ Incentive travel allows a business to build important relationships with customers. Happy customers become ambassadors for the organization and influence others to do business with them.
Benefits of incentive travel are many. To plan an incentive trip that works for your organization, contact Covington Meetings & Events.