Successful businesses are always looking for the most effective ways to motivate employees. So what works best: cash or travel?
Travel, it turns out, may be the most effective incentive of all. According to a study by Site International Foundation and the Incentive Travel Council
96% of employees say they are motivated by travel incentives, and 72% who earn the reward say they feel increased loyalty to the company. Here are 10 reasons why incentive travel programs provide intangible value that cash rewards can’t offer.
- Because of its high perceived value, a travel incentive can cost less than money or merchandise.
- Travel rewards are more glamorous to promote than cash rebates or other sales promotions.
- Cash is easy come, easy go. It’s spent on mundane necessities. Travel is memorable.
- Competitors can quickly match rebates and other promotion methods. However, travel incentives are custom-designed exclusively for your company.
- Travel incentives represent a chance for hard-working individuals to be rewarded with priceless life-long memories.
- A travel incentive is an unforgettable experience that communicates and enhances your company’s image.
- Everyone benefits from some time away. Rewarding your staff with a travel experience will help to relieve stress, boost confidence and reignite their creativity.
- Incentive travel can be tailored to suit every budget, making travel a practical reward option for small and large businesses alike.
- Forge stronger team dynamics. The thrilling adventures and shared experiences of a fantastic trip will hone and develop positive team dynamics.
- Foster employee loyalty and dedication. A great travel incentive rewards system will ensure your employees feel appreciated.
An easy decision……These are just a few of the many benefits incentive travel programs offer. When deciding whether to reward your employees with cash or incentive travel, the latter is the only option that will make a lasting impression on your employees while also rejuvenating their spirits. In the end, incentive travel rewards both employees and employers.