In most organizations, employee incentives are put in place as a form of motivation towards goals set by the management. It is also a way to show appreciation for stellar performance or valuable contributions. Incentives can be in the form of monetary or non-monetary, and one of the most common non-monetary incentives is a company incentive trip.
1) Increased Morale and Productivity
An incentive trip that is well planned has the ability to encourage employees positively and increase productivity. Research has shown that although a cash bonus is an attractive reward, incentive travel tops the list. A holiday trip gives the employees something to be excited about and they will feel better about their workplace when they know their efforts will be rewarded with an appealing prize. A trip can also help to relax and re-energise employees who worked hard enough to deserve the reward.
2) Unforgettable Experiences
It is important that such incentive trips provide unique opportunities that make lasting memories. People want an experience that is new and or exciting that they cannot get elsewhere. Besides that, memories of the trip will resonate back at work and recipients will be excited to share with their colleagues about the memorable moments. This, in turn, becomes an effective internal PR for the company.
3) Networking Opportunities
Company incentive trips is not only about relaxation. Such trips also provide opportunities for employees to interact with their peers or colleagues from other functions or countries. This can help to foster better working relationships and for some to finally put a face to the name for overseas colleagues whom they may not have met physically but have communicated so often over the phone or email.
These are the intangible benefits that enhance collaboration and increase employee satisfaction.
So, how can you have an awesome company incentive trip with minimal spending?
1) Select the right destination
Selecting the right destination is important and yet difficult at the same time. Everyone has their own preferred destination and therefore it’s important to determine a destination that will appeal to your audience. One of the consideration may be pre-select a few destinations and have employees cast a vote. While you can’t please everyone, you can make sure that the majority of the employees are happy.
2) Budget Limitations
While the bigger budget you have, the easier it is to plan for the trip. However, a small budget doesn’t mean you can’t pull off an incentive trip. You just need to use your budget wiser through negotiations with agents and suppliers. Sometimes supplier negotiation with bundling can result in significant savings. Additionally, selecting a few activities combined with some free and easy time for self-exploration can also stretch your budget further and yet resulting in a pleasurable outcome.
3) Team Building + Annual Sales Kick-off (clients’ event)
Some companies engage third-party vendors who specialises in clients’ sales kick-off events to conduct team-building workshops for their employees during these incentive trips. By combining your company’s annual sales kick-off event with your incentive trip, you can achieve your objective of clients’ engagement and employees’ team building during the same trip.
There are many advantages that a company incentive trip can offer and with proper planning, you can create fantastic experiences with minimal spending.