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What is incentive travel and how can it help my business?

May 24, 2018

Incentive travel is one of the top methods used nowadays to retain employees. While the majority of businesses pay their employees a regular salary, as well as additional bonuses if that happens to be part of their payment package, many businesses are starting to offer their employees additional incentives. Why? Retaining employees is cost-efficient. Average costs associated with hiring and training a new employee is equal to about six months of their salary.

There are guidelines employees must follow to be eligible for incentives, and once the proper training is received and they understand exactly what it is they need to do in order to earn the incentives, the sky’s the limit!

How can incentive travel help my business?

Any business that is in sales can benefit from offering incentive travel to its employees. When employees are incentivized, you’re giving them what they need to help motivate them more, which is going to lead to additional sales. When employees are incentivized, it simply means that there is going to be more revenue coming in for your business.

While cash has been one of the top incentives for employees for many years now, monetary compensation simply doesn’t allow for the excitement that incentives can for employees. When the opportunity for an employee to receive cash as an incentive to increase their sales is part of the businesses payment package, they will often do their best to increase their sales. But if their monetary situation is one where they are financially stable, additional cash isn’t always the best way for them to increase their overall sales.

When a business offers their employees travel incentives, it piques their interest. Instead of working to make more sales so that they can earn additional cash rewards, employees will work even harder to make sales goals when they understand that a dream vacation is the ultimate reward. When incentive travel is used as a way to encourage employees to make higher sales, their reward is one they will treasure forever.

Bottom line

Incentive travel is one of the absolute best ways you can help your business increase its sales, which means more profit and accordingly more revenue for your business. Incentive travel is one of the absolute best ways any business can retain its employees, as satisfied employees are much more likely to stay working for a business long-term. Offering incentive travel is definitely one of the best ways to increase a businesses bottom line, as well as keep employees happy.

Alan Eskelsen is a travel professional with Kalilei Vacations in Idaho Falls. He can be reached at 208-201-6395 or alan@kalileivacations.com.