25 January 2016
4 Reasons to Invest in Incentive Travel for your Company
Incentive travel is a tool used to motivate employees. A study completed in 2009 by Oxford Economics USA showed that the ROI from investing in incentive travel was over 4 to 1. This unique means of entertainment is one that companies can use to increase employee performance, and, therefore, the company’s revenue.
From the façade, it’s difficult to see why a company would spend money on what is effectively a paid-for holiday. Read on to see our top 5 reasons for investing in incentive travel for your business.
1. Objectives of the Business
Incentive travel is a fantastic tool which can be utilised by companies to inspire staff to meet goals and improve focus and performance. It enables employees to focus on the main actions they need to take in order to meet their targets. People need to engage and consistently perform, which can only benefit your business, this is more likely to happen if the reward benefits the individual. This will also improve the atmosphere of the workplace which will, in turn, improve productivity.
An all-expenses paid trip away is a huge reward that appeals to all employees, even topping a money reward according to studies. Quite simply, a trip away provides an experience and memories that money cannot. In some cases, individuals may not splash out on a nice holiday but it is something they would like to experience so they will only strive further to achieve it. Travel incentives provide a memorable experience for those involved, so they feel that their hard work has paid off. This may also lead to the rewarded employee mentioning this to colleagues and, therefore, will result in people trying as best they can to meet their objectives and go on their incentive trip.
Those rewarded with a travel incentive are very likely to develop a greater sense of loyalty for your company. When an employee feels appreciated they become more engaged and motivated which increases the companies’ productivity. Furthermore, it will help keep your best staff/clients and most highly achieving staff in the company as they will always strive to seek the rewards on offer.
Scalability is another great bonus when planning an incentive trip. Trips can be tailored to suit any budget and timescale, from a weekend break to an all-inclusive holiday of a lifetime.
If you would like to take a look at our incentive travel page please click here or enquire below about your very own personalised incentive travel.