Travel incentive programs have a number of benefits for employees and employers. According to Forbes magazine, despite the expense of ever-increasing airfare, it’s an excellent method of rewarding valuable employees.
Employers have many options when employing this type of incentive program. Trips can be in the form of resorts, spas, amusement parks, high-end seats at sporting events or music events, and a host of other desirable rewards.
While these types of incentives are sure to motivate employees to a higher level of performance, it also serves as other functions, it allows for co-worker camaraderie, helps boost business relationships, along with nurturing and strengthening team relationships.
Sun Pharma’s vice president of international marketing Rakesh Mehta explained to the magazine that “incentive holidays are ultimately about enjoyment and merrymaking. There are the conferences and interactions, but everyone looks forward to the fun part.”
After the AIG fiasco amidst the recession, travel incentive programs were slashed by 35 percent, noted USA Today. Companies didn’t want to negatively linked to the fallout suffered by AIG.