How do you recognize and celebrate your employees’ accomplishments? Bonuses? Raises? Accolades?
These tactics have positive effects, but many times they’re short-lived and typically don’t have a direct effect on employee retention and/or a company’s net profit. Studies show that a company who invests funds into recognizing their highest-performing employees through Incentive Travel has up to three times the return on investment. In addition to improving employee satisfaction exponentially, overall staff retention, and ultimately – revenue, increases.
Although many corporations may balk at the idea of adding Incentive Travel as a budget line item, the cost is actually quite small when compared with the return. And that’s not for lack of luxury; the value of the trips MCI USA plans for our Incentive clients is perceived exponentially from what is actually spent. With the ultimate goal of revenue increase – the investment is worth it.
There are multiple reasons why Incentive Travel should be considered as a reward for employees:
So how do you build Incentive Travel into your employee recognition program?
First ask yourself: “For what are you rewarding your employees?”
The first step is to build structure and decide benchmarks.
In most companies, the highest-performing employees earn their annual incentive travel program (normally the top 10-20%).
What goals do you want your employees to reach?
These should be measurable and challenging, but attainable.
Brand your program.
Promoting the program and encouraging awardees to share about their experience post-travel creates buzz.
As Incentive Travel becomes a well-known part of your recognition culture, the reward becomes like a select “club” within your organization that employees want to be a part of. Companies use titles such as “President’s Club,” “Diamond Club,” and “Chairman’s Circle” to express exclusivity and distinction for their highest achievers.
Additionally, MCI USA provides high-value materials to market the trip – including an employee-only website where employees learn about the destination, register and reserve activities.
Provide nothing short of Luxury.
Everything about your Incentive Travel program should exude luxury or fantasy. In general, high-performing employees typically travel regularly and have a broad range of travel experiences, which is why we tailor every detail of our trips so it’s unique and has a wow-factor.
MCI USA does all of planning and logistics in-house, saving our clients money, while not losing a bit of awe. Destinations are hand-picked, and each activity is curated. Spouses/partners are invited to participate, and all guests are treated like royalty from the time they’re awarded the trip until they arrive back in their home city.
Recent experiences include:
If you had this menu of experiences, wouldn’t you want to go back?
Looking to plan an incentive? Let’s work together to make your incentive travel program a reality. Contact us today to learn more about our vast array of incentive services.
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