Lavish incentive trips for top performing employees became dodo-like rarities as companies feared appearing extravagant during the recent recession but they are increasingly getting back on the map, according to incentive travel experts.
But this time around the excursions are likely to be shorter, less expensive and more focused on public service than pampering, says USA Today.
“You’ve got to reward your top performers if you want your company results to remain strong," said Brenda Anderson, CEO of Site, an organization of incentive and travel executives. "It’s common sense. … It’s about rewarding your employees, making them feel connected to your company, your culture, your values."
Industry executives expect the number of such trips this year to greatly accelerate in 2011 as workers reach the targets that would qualify them for rewards.
"Typically the company would have to develop the program almost the year before the trip," said Christine Duffy, CEO of Maritz Travel, which runs incentive travel programs for many of the nation’s largest corporations. So far this year, her firm has seen a 63 percent increase in proposals for such initiatives over last year.
For every dollar spent on incentive travel, a business typically reaps USD$3 to $4 in revenue, according to Site. And while some incentive programs offer solo trips, larger gatherings can be particularly valuable because they give attendees the chance to connect with one another as well as top executives, experts say.
"They’re in one place talking and networking and learning informally," said Paul Hebert, managing director of the Greenville, S.C.-based I2I, which consults with companies on the design of their incentive programs. "You end up elevating everybody’s skill level."
By David Wilkening
