Why More Companies Are Using Travel Incentives

More and more businesses are using travel incentives to motivate and keep top talent. According to a survey by USA Today, most people (93 percent) prefer travel rewards over other types of rewards. Who doesn’t like to go on a short getaway or a fun outing? Around 46 percent of businesses are already offering this to their employees. Here’s why your company should be doing it too.

It grows your business.

A happy, motivated employee is a more productive employee. The Incentive Research Foundation says that companies that rewarded employees with non-cash rewards experienced a triple increase to their revenue. They also calculated that, with travel incentives, sales productivity could increase by 18 percent and could lead to a return on investment of 112 percent. That’s not bad at all.

It’s more exciting than cash.

Yes, we love cash. But the chances of cash getting used for boring things like bills or groceries are pretty high. After a few days, the extra cash is forgotten and its benefits barely felt. But an all-expenses-paid weekend on a luxurious houseboat is sure to stay with employees long after the experience is over. Plus, the Harvard Business Review says that “money is the most expensive way to motivate employees”.

It helps your team to bond.

If you run a contest at the office with travel as the prize, it will not only increase employee performance and comraderie, but it will also increase your sales. Your team just might thrive off the competition and sell more widgets than you ever thought possible.

You don’t always need to run a contest either. Sometimes, you can just plan a team getaway to build employee loyalty. The options are endless. For instance, you can rent gorgeous houseboats that can accommodate your whole team for a great price or take the crew on a little road trip to visit a national monument.

It puts your company on the favorite list.

When your employees show off their tans and fabulous lake outings to their Facebook and Instagram friends, your business will automatically scoot up on the list of most-desirable places where people want to work. Who knows? One of your current employees may have a friend that is perfect for that new position that’s opening up.

Weekend trips and fun outings are always in demand. What better way is there to grow your company and motivate your best employees to stay?