There are 2 kinds of employee travel: travel that can cost a company money. And travel that earns a company money. Incentive travel is the revenue generating kind.
We know what you’re thinking, “Isn’t that counter-intuitive? I mean, sending my sales teams to exotic destinations sounds like it’s going to cost big bucks.”
Not exactly. See, incentivizing your sales teams with travel rewards actually leads to better performance from your employees, producing increased profits, engaged employees, and enhanced employee retention rates. In other words, better-performing sales teams = more cash flowing in the right direction for your company. And other productivity-related benefits, too.
Consider this statistic:
If selected, implemented, and monitored correctly, incentive programs—with tangible awards such as travel— increase performance by an average of 22%. Team incentives can increase performance by as much as 44%.
You know where your numbers stand now so grab a calculator and see what a 44% increase would look like.
And that’s just the hard sales & performance numbers. Travel incentives also make your sales teams feel more positive about your company, which can translate to higher employee engagement rates. Incentive travel can also help you to attract top talent and aid in employee retention.
The biggest news of all? Properly-structured incentive travel programs are self-funding. This means that a percentage of the increased revenue generated by the reward program pays for the reward itself. And even when your sales team fails to meet their travel program goals your business still benefits from the additional sales generated by their efforts.
If you truly want to change the behavior of your audience with a big impact on bottom line results an incentive travel program is a great tool for success.