Looking Beyond Sales with Travel Incentives
The most commonly known form, the pre-planned itinerary, is typically a cruise or resort stay. By booking these in advance companies can great deals. Utilizing a reputable travel agency can also secure even lower rates by using group fares. This type of incentive is typically associated with a sales goal, for example, the top ten earners in a quarter. However, the model can be easily reworked as a compliance incentive by reviewing those individuals who saved the company the most on travel and entertainment costs. There are abundant tracking programs available for little or no cost where companies can track where an employee rejected a higher airfare in favor of a lower one, or used a cost comparison to verify if driving or flying would be more cost effective.
Allocated Travel Funds
Allocated travel funds can be rewarded with a similar savings goal model. However, these are not a specific, preplanned trip for top employees but rather a dollar to dollar point earning system. For instance, an employee saving the company 500 dollars on airfare may earn a 100 dollar air credit with the company’s preferred air carrier. This variation of policy adherence incentive works particularly well for larger companies where there may be individuals who, by nature of their job function, may not travel as often as others. This sort of adherence reward can be easily extended to include attendance or safety procedure adherence.
Another travel incentive benefit often overlooked by companies, and at no cost to them, is working with a travel management company that negotiates with vendors (airlines, hotels and rental car companies) to allow the individual to collect travel perks such as upgrades if they book through the travel agency. Travel agencies have extensive quality control measures to ensure policy compliance. This sort travel incentive is of particular value to companies because it forces adherence and provides access to cost-saving strategies and reporting on exceptions in great detail.
Travel incentive programs have long been thought of a sales-oriented incentive only. However, with creative, strategic planning, a strong travel reward program can effectively lower leakage and promote company morale far outside of the sales team. For additional resources, you may be able to learn more at the The Traveller Inc. website.