Getting the right people on the bus and keeping them “on” is one of the most challenging objectives for any management team. Not too long ago (our grandparents’ generation) a solid paycheck and full benefits would be enough to retain dedicated and highly capable employees for decades. As we all know, this phenomenon is long gone. These days, organizations need to offer much more to attract and retain top talent.
In today’s highly competitive world, building and maintaining a top performing team takes real gusto and a high-level commitment. Creating an authentic and compelling corporate culture requires leadership to live the values of organization out loud. Recognizing extraordinary efforts by your employees is essential for retention and continued commitment. One powerful tactic to help build an energized corporate culture and attract top talent is to host an incentive event
Let’s examine five benefits of corporate travel incentives.
Employee Retention: Most seasoned managers have had their best employees jump to a competitor for a 10%-20% pay increase or other tangible benefits. This is an aggravating and perplexing reality. One way to avoid this type of job jumping is to honor your top performers with a sales incentive event. Events, such as a 4-night group trip to Hawaii or Paris, serve not only as a compensation motivator but also as a way to get your top talent together and celebrate their efforts publically. Travel incentives can provide your top performers with an experience that your competitors may not be able to match, even with higher pay.
Motivation: Travel incentives are powerful motivators. They serve as trophies for exceptional service. Top performers certainly have a decent ego to feed. By recognizing them in front of their peers, spouses and senior leadership, they will be more apt to do whatever necessary to continue earning this trip.
Recognition: Travel incentives will support long-term productivity from your most valuable associates, chiefly because of the recognition that comes along with an incentive trip. Every associate on your team is looking for validation and recognition of some sort. Corporate incentives are great ways to remind them of their significance.
Communication: Incentive trips facilitate a richer level of communication between management and top performers. By virtue of proximity, you are going to provide the right space for ideas and enthusiasm to radiate amongst attendees. Conference calls and emails will never compete with in-person conversations, especially if you have a wonderful backdrop, such as Los Cabos or Barcelona to stimulate the creative process. The raw power of placing great minds and passionate leaders in one inspired space is almost overwhelming.
Mental Reset: Associates are not machines. The amount of productivity that a travel incentive supports in an associate can only be maintained for so long before that associate burns out. A short flight and a long vacation will afford hardworking associates the time they need to recharge before returning to the ring for another winning quarter.