There’s an ongoing debate around corporate travel and incentives trips. Do we need them? Why are they good? Is it even appropriate to spend money on such things? Fortunately the trend is shifting back to companies investing in their employees by providing incentive travels and exciting team-building trips.
There are several reasons why incentives are not a waste of money:
– Motivating your employees and acknowledging their hard work leads to higher productivity. A happy employee is a good employee.
– It is also showing that the company cares about its employees, increases company loyalty and diminishes the risk of losing key employees.
– Investing in your employees pays off. You will end up with a dedicated, educated and content workforce.
– Shared experiences tie people closer together. Getting your employees share an exciting incentive trip together will make them a better team. It’s like being caught in an elevator for a few hours, but much more fun and educational!
– Team-building activities are perfect to incorporate in incentive trips as they improve communication within a team, they motivate for further success and make people work towards a common goal. They also expose strengths and weaknesses of a team and improve productivity, creativity and teamwork.
– Interestingly enough money-based incentives proved not to be successful as they rarely boost productivity (http://faculty-gsb.stanford.edu/oyer/wp/luck.pdf). Therefore instead of wasting money on cash rewards try providing a memorable incentive travel that will instill a feeling of companionship and community. If you pay your employees more it doesn’t mean they will be more loyal to the company. If you take them on an incentive trip with team-oriented activities where they need to step out of their mental box and collaborate in a different way, they will surely change their way of thinking about your company.
Saying all this we believe every incentive or corporate travel needs to be unique, memorable and catered to your company needs. In order to make the most of your incentive, be sure to experience the best and most exciting activities each destination has to offer. Experience it to believe it and make your incentive something to remember!