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If You Think the World of Your Employees, Give it to Them!
December 04, 2012Okay, maybe not the world, but certainly a well-deserved glimpse of it. Corporate incentive travel programs are a powerful way to tell an employee, “Job well done” even in this uncertain economy. According to a recent survey by MeetingsNet.com, although one-fifth of respondents are expecting cuts in their incentive travel budgets, 48% expect them to remain the same and 31% expect a slight increase.
So, what are some of the best ways to design and implement a successful incentive travel program? We asked Mitch-Stuart Inc. SVP, Business Development Michael Upp to share his top tips.
- Identify your goals Incentive travel can be used to motivate employees, reward current customers or attract new ones as well as increase sales of a product or service. It is crucial to decide at the outset what your desired outcome is so you can plan and select a package accordingly.
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Create a plan and budget Determine who is eligible, how you are going to communicate your offering, the duration of the program and give it a working title to help get the creative juices flowing. Budget will dictate the types of rewards you can offer, but rest assured there is a corporate travel package to fit any budget. A good rule of thumb for an overall budget is as follows:
Rewards – 80%
Promotion and Communications – 10%
Administration – 5%
Training and Research – 5%
- Select the rewards Companies such as Mitch-Stuart offer everything from a lavish Hawaiian of European vacation to a sports, shopping or sightseeing-themed package. You can scale back to simply domestic airfare or go the other way with a deluxe Kenyan safari or “Top Gun” experience.
- Promote! Maximize your results by getting the word out with all the tools at your disposal - use direct mail, email, newsletters, mobile marketing and more to stay in touch with your target.
- Measure the results Put measurement tactics in place to gauge the effectiveness of your program. Was the target audience motivated? Did you see a measurable increase in employee satisfaction? In customer loyalty? Measurement will help you determine what worked and what can be improved for the next time.
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