Corporate incentive travel is a great method to motivate and reward your valuable employees. Incentive travel might be group or individual, and the destination could be local or international. But every successful incentive travel program starts with careful planning.
Listed below 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 what the incentive program should accomplish. This can be a rise in sales, surge in production output or profits, or perhaps a decline in defective products, sales returns or lost contracts. Make sure to assign a price towards the improvement or reduction – a part, absolute variety of units or contracts, or even a amount.
* Find the target group for that program. This might be management, employees, salespeople, or perhaps 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 within your cost range.
* Considering past performance and employee behavior, establish reasonable tasks for your target group.
* Be sure to have a very performance tracking system in position having a clear strategy to measure incentive program results.
* Brainstorm what obstacles may exist on the success from the incentive travel companies. This might be current employee morale, organizational structure or market conditions.
* Determine whether the program will probably be managed internally or outsourced to an agency.
* Understand applicable tax implications. Travel might be taxable to recipients under certain conditions, and special tax forms may be needed.
* When picking a corporate incentive travel company, make sure it agrees to fulfill precisely what is promised for your budgeted cost, so you understand its cancellation policies.
* Following your program, survey winners and non-winners to discover if the program was successful in meeting the goal.
Corporate Travel on the Smaller Budget
Even if you cannot afford to whisk your top performers away to Europe with a private jet, you’ll probably still reward the employees with incentive travel that they may enjoy.
If you possibly could manage to send your team away on the teambuilding retreat, it doesn’t should be far away. Campsites and resorts, a day on a chartered boat can produce a memorable experience. For people, it’s actually a better idea to deliver your recipient somewhere exotic enough to become memorable. When possible, allowing a spouse or children to accompany your employee is another good option.
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