Companies are always on the lookout for employees who are productive and actually contribute something new to the organization. On most occasions, the organization takes proactive measures to ensure that these productive and competent employees are given enough perks and incentives to keep them in the workforce. Incentive Travel is among the few effective travel policies that enterprises use to achieve that.
What is Incentive Travel?
Incentive travel is basically a program where the company sponsors business trips for its employees and pays for the commute, lodging, and other facilities. These trips can be for attending business deals, making presentations, attending foreign clients or participating in conferences and seminars.
Cash is Transient, Travel Experiences Stay With you
Most companies prefer travel incentives to cash bonuses and salary hikes. This is because cash is a very transient and temporary asset. You can easily spend it and the incentive loses its value. With traveling, employees gain something that is far more valuable- experience.
Monetary Incentives Aren’t Very Special
Monetary incentives are not exactly the most effective way of making an employee feel special and appreciated. Almost every person in the team must have had these cash benefits at some point in their careers. Also, bonuses and salary perks are very regular in the organization. Sponsoring trips to exotic locations, on the other hand, is a rare opportunity bestowed upon a chosen few
You Cannot Flaunt a Paycheck
Another reason why incentive travel trumps over monetary benefits is that- it’s easier to flaunt. Travel plans are special, you can talk about them. It also is an amazing learning experience for the employee, enriching them with great sights, good and quality services.
Incentive Travel is Profitable
Incentive travel might seem like an investment, but it is ultimately very profitable for the company. Rewarding an employee with an all-expenses-paid trip builds a sense of trust and appreciation in the workforce. It can be seen as a motivating factor for others on the team to pull up their socks and put in more effort.
Creates Job Satisfaction
With travel incentives, the employee basically gets a mini-vacation at the expense of the company. It makes the person feel appreciated and seen for the work and effort that they have put in this organization. These trips are a win-win situation for both parties involved. For the employee, it builds a sense of trust and job satisfaction. For the company, you have a happy, loyal employee who is now encouraged to give his best to your organization
Builds Brand Image
Giving your employees the chance to travel the world also boosts your brand image as a benevolent and generous employer. Your employees are bound to post on social media about their trip to beautiful and scenic locations and tag your company in it. This creates a positive impact and encourages other people to apply for positions in your company. It also sends out an empowering message to your customer base.