Incentive travel is a globally recognised highly motivational management tool that uses an exceptional travel experience to motivate and / or reward participants for increased sales, loyalty or work performance.
Improved performance, efficiencies and ultimately profit growth are the top issues that concern most companies in the current economic climate. One of the best and most cost effective ways to achieve this goal is through incentives, more particularly travel incentives.
But that costs money you say!
Not if they are conceived correctly – instead of being perceived as an expense, there are numerous examples proving how incentive travel can be correctly identified as AN INVESTMENT.
As with any investment decision, by setting out the objectives behind the decision to proceed, it creates the ability to calculate the Return on Investment (ROI). Using a simple formula, organisations can calculate the following:
• Performance goals for the participants
• The financial contribution to the company if these goals are met
• What portion of this financial contribution to be used to pay for the programme whilst still securing additional revenue to the company.
In other words the trip will pay for itself and provide additional revenue to the company making it truly an INVESTMENT with a predictable return rather than a net budgetary ‘expense’ item. When planned and executed properly incentive travel programmes pay for themselves and create a positive return on the investment needed to create them.