Having been established in the incentive travel industry for over a decade now, I can state with confidence that we at First Event have seen it all; events to recognise success, reward achievement, inspire motivation, build relations and give back to communities.
Giving staff a real driver to improve performance can be quite complicated, but when done well proves extremely beneficial for both employer and employee. What works best; Cash incentives, vouchers, travel, awards or recognition? Incentivising your workforce with travel is the perfect way to promote a passionate, motivated team, willing to work hard for a great reward. The ‘experience money can’t buy’ or the emotional value associated with travel incentives has proved, in many research studies, to be far more effective in driving a sales force than monetary rewards.
Monetary rewards are seen as a compensator and also end up more costly for the organisation. Do you offer money with a value tag or a value for money experience?
For staff to want to perform and relish competition, they need to know that what they’ll receive for it goes way past run-of-the-mill and delivers a once-in-a-lifetime opportunity out of the boundaries of what they would normally experience in their day-to-day lives.
Here are the top three reasons to reward your staff with travel incentives:
- Motivate and Reward: Travel incentive benefits are two-fold. They offer a fantastic opportunity for your key performers to feel motivated by the chance to experience new destinations and lifestyles. They also give companies the chance to host such events and reward their valued customers or employees.
- Building Relations: Time away from the office is perfect for getting a new perspective on tasks and encouraging networking in a relaxed environment.
- Sales Growth: Properly implemented schemes can improve productivity and give a healthy ROI. A study by IRF showed that a well-planned, well thought through travel incentives package could increase work levels by 18% and deliver an ROI of up to 84%!
About First Event
First Event specialises in international incentives, conferences, corporate hospitality and “money can’t buy” experiences. We work with groups of as intimate as ten to ones into the thousands. We venture anywhere in the world and we now rank in the top 25% of UK event companies. Working with some of the world’s leading brands and companies, we deliver unique, award winning and memorable events.
As an established incentive travel and conference provider, our company’s client portfolio includes the construction and building industries, IT, automobile and recruitment industries.