Why You Need to Invest in Travel Incentive Programs
Both the 2018 and 2017 SITE Index studies report almost identical responses, along with a few outliers, that lend to the tremendous value incentive travel brings to organizations. Those open-end responses include stronger client loyalty, an enhanced corporate culture, the sharing of best practices, and involving winners in company strategy discussions.
Nearly 40% of U.S. businesses now use incentive travel to reward and recognize their top performing employees, salespeople, and channel partners, according to the Incentive Research Foundation. Not to mention, eligibility for incentive travel is increasing globally, with 65% of buyers increasing the number of qualifiers.
Travel Incentive Programs Work
According to numerous surveys, and most recently the Incentive Travel Industry Index, there are eight top reasons organizations use (and love) incentive travel programs. Incentive buying stakeholders have consistently ranked “Increased Sales and Profit” as the number one objective associated with incentive travel. And with 98% of respondents reporting that incentive travel helped them reach these goals, we would say the business case is strong.
8 Top Reasons Companies Use Travel Incentive Programs
Here are the objectives of incentive travel programs according to program buyers:
- Increase Sales and Profit
- Increase Individual Productivity
- Improve Employee Engagement and Morale
- Strengthen Employee Loyalty
- Build Better Relationships Between Employees and Management
- Retain Talent
- Build Better Relationships Among Employees
- Enhance Ability to Recruit New Employees
Download our free paper – 6 Factors Impacting Global Incentive Travel: