Improving your business in 2017 doesn’t have to be a massive undertaking. Next year, incorporate incentive travel into your organization plan. It benefits both you and your employees in a fun and exciting way. Still not sure? Read these three undeniable reasons to use incentive travel to learn more.
More Bang for your Buck!
In today’s business world, you want to maximize every dollar spent. So if you are rewarding your employees, incentive travel is the way to go. Studies have shown that using incentive travel as a reward results in a higher return on investment than cash does. For every dollar spent on travel, there is a $12.50 increase in revenue.*
Incentive travel programs provide intangible value that cash bonuses simply cannot offer.
Experiences Boost Loyalty
Think back on some of your most memorable life moments. Do they involve experiencing something new and exciting or depositing a check at the bank? If the former falls in line with what you’re thinking, we’re not surprised. Experiences, not material goods, are more likely to lead to happiness.
As a business, you want your employees to be happy and, in turn, productive. Providing the opportunity to experience a Champagne toast on the London Eye or to attend a surfing lesson off the coast of Maui during an incentive trip can do just that. It not only creates lasting positive memories of the trip but also fosters feelings of gratitude and appreciation.
These feelings are associated with the company in a much deeper way than the experience of receiving a cash reward. And if your employees are millennials, travel is also an ideal way to increase loyalty in this experience-seeking group.
Incentive travel is a very effective tool used by organizations or teams to inspire employees to exceed goals and improve focus and productivity. Studies have found that team performance increases by 44% with a well- designed incentive program.** When the team works together to achieve a goal and then can experience a trip together, the workplace atmosphere and camaraderie improves. People are more engaged in the company and motivated for success.
If you want the best ROI for employee rewards, increased loyalty to your business, and a highly motivated team, incorporate an incentive travel program into your business plan. Brownell Incentive Travel has over 35 years of experience planning and executing successful programs around the world. Contact us for more information or to start planning your incentive travel program.
Are you ready to take your business to a new level this year? Contact us for more information or to start planning.