Incentive Travel Programs – Boosting Efficiency & Effectiveness
What is Incentive Travel?
With thanks to a fastmoving landscape in ‘buy now, pay later’ financial applications such as ‘after pay’ and ‘zip pay, quick self-rewards have become easy to obtain. With this, delivering motivating reward to employees or clients has become even more difficult. Why? Because things that were once out of reach are now more accessible both physically and financially. This means rewarding with unique money can’t buy opportunities is even more imperative if we want to create impact and the WOW factor. With the aid of a corporate event expert, such as our inhouse team at Sane Event Group, your incentive travel program is bound to inspire, engage and wow your delegates. Our itineraries are tailored to your needs and business objectives. They thrill and surprise, leave delegates connected to the business and motivated to achieve results to qualify for the next incentive travel program.
Incentive travel programs are not new, in fact they are one of the oldest forms of reward. With proven success in increasing productivity, morale and profit to businesses, they offer a true return on investment. They create memorable moments, strengthen connections and allow for people to engage and connect away from an office environment, this applies to employees and clients.
What are the challenges businesses face when putting together incentive programs?
Now we know what an incentive travel program is, why aren’t more businesses offering them? What are the challenges?
You can run your own successful incentive travel program, however, you should aware of some of the key challenges business run into when taking on the role of planner themselves. Often businesses struggle to access the true money can’t buy opportunities such as obtaining tickets to a sold-out event, arranging a private concert, closing a restaurant for a degustation cooked by celebrity chefs or merely getting value for money on economies of scale. Wanting the best for your delegates is not the challenge but sticking to budget and knowing how to execute the program effectively can be. As you embark on your planning it is important to remember;
- Keep a strict criterion for the reward. Criteria must be clearly tied to business objectives such as sales or KPIs so that only true qualifiers are on the trip – do not dilute the exclusivity or value of the reward
- Communication about the program should be clear and consistent yet be careful not to give everything away – the surprise element is key
- The design, including desirable destinations, interactive sessions, and leisure time should add to the overall excitement – using local guides will help ensure your trip is cultural and tailored to the destination – think wine connoisseur in New Zealand or wildlife specialist on safari in Africa
- Senior executives should act as hosts to reinforce the company’s commitment to the program and allow for any barriers to be removed in a casual environment – this is often where business is secured, over a casual drink or meal in a foreign country where stress is low and engagement is high
- There should be collaboration about best practices and ideas, this is where you will learn how to improve your business and form a strategy for the following year – think tanks work perfectly here
- Earners should be motivated to continue to perform at a high level by introducing a flavour or teasers for the next program whilst motivation is at an all-time high
- If you run into challenges seek help. The advice and expertise of a corporate event can take away the stress and often save you money in the long run.
How can we help?
Showing recognition for employees’ or clients’ achievements by implementing incentive or travel experiences may be an old trick but it’s also becoming more favoured by employees and clients – as long it is done well. At Sane Event Group we have a range of specialists who live and breathe corporate rewards, incentive travel programs and global events. We have access to some of the most unique spaces, theming and local guides – right around the world. Whether you want to eat pizza in Italy, watch the best sumo wrestlers in Japan or party at Bird Cage on Melbourne Cup Day, nothing is out of reach. We also understand the importance of aligning your company objectives with your delegates to deliver a powerful incentive travel program that will engage, connect, motivate and reward your team. Whether you are at the planning stage or have hit a hurdle in your plans, call us today, we offer tailored solutions to suit every industry and budget.