How Incentive Travel Can Benefit Your Business

Posted in Incentive Events, Incentive Travel, Incentive and Recognition, Sales Incentives

by Iain Thomson on Oct 26, 2017 4:01:10 PM

the chance to get away makes for a fantastic employee incentive

Having a trip away planned is a great feeling. Getting out of the office, soaking up some culture – and maybe even some sunshine – is always something to look forward to, and a sure-fire way to feel energised and refreshed when you get home. Harnessing that holiday spirit in the workplace can have some fantastic impacts too!

Incentive travel is a great way to show your team that they're, well, just that – a team.

Whether it's taking the whole group away to an exciting, inspiring setting that gets them revved up and ready to go at the start of a campaign – or providing it as the ultimate reward for hitting targets at the end, there are plenty of benefits to incentive travel.

Let's take a look.

INCREASE sales

While we can't quite say that offering incentive travel will directly result in higher sales, there does seem to be a correlation between businesses which have great sales results and also offer incentive travel.

A survey into the top 20% of companies - who have higher average sales quotas and average year-on-year increase in team attainment of sales than competitors – found that 100% of the companies featured offered group travel and company-sponsored events to recognise year-end sales success.

There's more to it than the travel itself, of course – the success comes from having an incentive and recognition strategy that can get the best people.

But travel makes for the ultimate reward – the chance to get away really gives people something to shoot for when they're working to hit targets.

Build morale

If it's been a particularly taxing year, a trip away might do everyone a bit of good.

Most companies look to the Christmas party as a way to improve morale, but offering some extra free drinks isn't going to improve motivation overnight.

Employee loyalty may suffer if individuals don't feel like they're being supported and valued, so time away from the office as a reward could be just the trick.

84% of managers believe declining employee loyalty is thought to cause low morale, yet 70% of staff say that motivation and morale would improve 'massively' with managers saying thank you more.

And what better way to say thanks to your team than by telling them to grab their passports?    

recognise good performance

Employee recognition is crucial to a positive workplace culture.

People who are thanked for their hard graft are likely to feel valued, and continue to work hard.

Many employers can be accused of thinking money is the way to keep staff happy, but it's not always the case.

Amazingly, 36% of staff admitted they would give up nearly £4,000 of their salary to be happier at work – and recognition is one way to ensure you have a happier workplace.

Small things like saying thank you are a good start, but why not show you really care by giving the incentive of travel to your top performers?

It can encourage a little healthy competition and show your gratitude as an employer.

improve employee loyalty and retention

Businesses rely on employee loyalty – staff who are committed to the company will be far more invested in your organisation's success than disengaged staff members.

As many as 32% of staff don’t feel confident that their company will repay their loyalty – so why not use incentive travel as a clear sign that people who stick around are appreciated?

Long-service awards are typically gift card territory, but for those who have been around for 20 or more years (an eternity in today's job market!), a holiday could be a fantastic way to mark the occasion.

And if you reward staff correctly, then they'll feel valued and appreciated by the business, which means they're more likely to stay with the company for longer.

An Oxford Economics report revealed that nearly 80% of executives indicated that incentive travel has a significant impact on employee morale and job satisfaction, and 70% believe it has a real impact on employee performance.

The opportunity to go on a trip for working hard is a great employee benefit that may not only keep staff at the company, but attract top talent to your business – sites like Glassdoor and a company's social media presence has more influence than ever before, and travel's a smart way to get your current employees talking about how great you are.

encourage teamwork

Teamwork makes the dream work! It's corny, but it's true – for a business to achieve its goals, it needs its employees to work together.

Healthy competition can be great for pushing people to be their best, but competition that sees people undermine each other or struggle to get work done is a recipe for disaster.

Using incentive travel as an end-of-season reward for a team could be a good chance to turn it into more of a staff retreat, where people who have spent the year working together can take some time to get to know each other better, building bonds for an even better performance next year.

Some sneaky teambuilding exercises could be used to strengthen the relationships between colleagues too.

Just because you may be jetting off, there's time to plan some activities in there.

Why not see if there's an escape room challenge near where you're going or even a paintball session.

If you're going for an outdoorsy theme for your travel plans, then why not try geocaching?

Taking place all over the world, it's essentially an interactive treasure map which uses an app that tracks location of hidden caches, which may feature a strange surprise inside – if not, you just get to add your name to the list of people who have found it, or maybe leave something behind yourselves.

supports employee wellbeing

A trip away from the office can do a bit of good for everyone's health, and give staff some much need R&R to recover mentally as well as physically.

62% of employees have attributed their symptoms of poor mental health to work, or said that work was a contributing factor, so incentive travel could be used to help kickstart the process of a more supportive working environment.

Taking away the pressures of work tasks and thanking staff for their hard work is greatly appreciated, and depending on what you do with your incentive travel it can be a great opportunity to improve physical health among your staff.

A walking weekend in some of the UK's national parks has plenty of benefits, such as improved fitness and even reducing depression symptoms

Free ebook: Square Pegs and Round Holes  A successful company culture nurtures different personalities, rather than  forcing everyone into the same box. Learn all about personality types and how  to work with them in our ebook.

more effective than cash rewards

One of our recent surveys found that 84% of participants prefer to receive vouchers which provide experiences, instead of traditional, sometimes impersonal incentives.

Looking to the future of the workplace, three out of four millennial employees also want experiences more than tangible goods and 17% of millennials want the opportunity to share rewards with fellow colleagues.

This is a great opportunity to give your employees this kind of experience!

best of all? it can work for any budget

Incentive travel doesn't just mean jetting the team off to a five-star resort in the Caribbean – there are plenty of options which can suit any business, small or large.

More cost-effective options such as a country weekend break or a UK city break to party in style are a great way to treat staff without breaking the bank.

Everyone has different travel tastes, so holidays that are OTT might not suit some staff – while others may like the glitz and glamour.

If you can splash the cash on your incentive travel plans, we've compiled a list of five fantastic travel destinations which include a safari in Cape Town, sightseeing in Vietnam, or even ice driving in the Arctic Circle.

Plenty of suggestions for a truly memorable travel experience that your staff won't forget anytime soon!

Square Pegs and Round Holes

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