Why incentive travel can better the ROI of your employee incentives

Posted by Jo Kelly

When deciding if incentive travel fits with your business’s employee incentives, your reward schemes or sales incentive programmes, the deal-breaker will probably be the bottom line – does it make a return on investment (ROI)?

Yes, as far as staff incentives go, it’s a good way to reward, recognise and motivate your best employees. But can incentive travel really better your business’s ROI too?

Well, yes.

Put simply, employees working towards a target to receive a big incentive travel reward, like a big holiday with their team overseas, can be harder working employees who are more likely to make more sales and hit more targets as a result.

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In fact, research in the US shows that 100% of best-in-class companies ­– those with the highest customer retention and sales growth – are reported to offer group travel to recognise year-end sales success*.

The truth is, though, when it comes to ROI, incentive travel actually ticks a number of important boxes:

  • It improves employee engagement, creating a positive working environment and a more satisfied workforce that feels appreciated, pushing them to work harder
  • It makes you stand out from your competitors, which can attract employees to work for your business and not them
  • It shows your staff that you are an aspirational company to work for, encouraging them to stay loyal to you, continue to work hard and improve your ROI in return

Scalable staff incentives with value

Compared with other gifts that might make up your reward and recognition programme, a smart phone or set of golf clubs, for instance, incentive travel might seem like an expensive option. However, unlike some employee incentives, it can be scalable, depending on your needs.

While tangible rewards definitely have their place and will suit many businesses and employees very well, this scalability can add additional cachet to your rewards catalogue.

Depending on your budget, size of group, target audience and time of the year, the destination for the incentive trip is completely adaptable. You can offer a trip to an exotic international location or stay closer to home and provide a UK or European city break. Whatever the destination, it will still be a driver for your  team to work towards the opportunity to travel whilst improving their performance.

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Keeping and attracting your best staff

Incentive travel can also help reduce your spending on recruitment – the costs of job advertising, for instance. More potential employees could proactively approach you if you include your travel incentives in your company marketing, like on your website, as a key business benefit. You can also position travel as a premium offer in your business’s employee incentives to attract an even higher calibre of staff.

When employees feel appreciated and recognised for their hard work, they are more likely to want to stay loyal to your business and not look elsewhere to develop their career years down the line, continuing to increase results with you.

Long-term gains for your business

The benefits incentive travel has in building enthusiasm, boosting loyalty and increasing retention, while improving performance and development can ensure you get the most from your staff over the long-term, while attracting other valuable employees to your company to build your best team.
Sales will be increased from the outset with staff improving their performance to gain a place on the trip and brand awareness will be enhanced. When the employees return from their trip they will be buzzing from the amazing trip they have experienced and will be the first to encourage other members of staff to increase their performance and work harder so they can participate in the next incentive.

For the employees attending the trip, it is a shared team-bonding experience and can be an opportunity to network with their peers and bring together people who don’t necessarily work together on a day to day basis.  Memories from their trip will be long lasting and will always be associated to the business.

All of this can contribute to giving you a better return on investment that doesn’t just work, but lasts – providing you with a stronger foundation to continue to grow your business, well, in return.

Trips to make your incentive travel do more

Incentive travel can be a major driver of performance and engagement across your team. This can help boost staff performance and have a direct impact on sales. Incentives can be incredibly varied, allowing you to scale or change them based on what your team would respond well to or budget.

At CR Worldwide, incentive travel is one part of the event services we offer. We can quickly, design, develop and implement incentive travel events that provide a range of benefits for you and your staff. Our events are:

Easy to implement – Our events are quick to set up and are tailored to suit your staff, your needs and business goals.

Engaging – Quickly enhance loyalty and performance, creating an emotional bond with your brand, and increasing company awareness.

Easy to manage – Run and hosted by dedicated managers, who provide exciting schedules of activities and experiences and help to execute your itinerary.

We’d love to excite, engage and inspire your staff with our services in incentive travel. To speak to a member of our award-winning team:

Jo has worked at CR Worldwide as Events Operations Director since 2004. She is responsible for scoping and delivering all types of events, for clients of all sizes, globally. She manages the division’s team who organise and execute award-winning events – ranging from one-off sales floor days, corporate hospitality events and incentive travel trips, to annual conferences and partner summits.