If You Think the World of Your Employees, Give it to Them!
December 04, 2012
Okay, 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.
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.
If you have some examples of successful corporate incentive programs
, please share them in our comments section.
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