The Term Incentive – 3 Types

A reward is bestowed on either an individual or a group of individuals as a sign of appreciation.

(1)
(Reward & Recognition): Example: A two-night all-expense paid weekend package at a selected location for an individual that has done well for an organisation. This would be available through our retail travel office.

(2)
(Group Incentive Travel): All-Inclusive – Fully project-managed for incentive purposes. Event management that includes the following under a fixed price: Group flights, airport transfers, accommodation (based on single occupancy, (Meeting Venues if required), group team building suggestions, tours, etc.,

(2b)
Company noticeboard promotions: Our office is happy to design and package group travel programs for employees working within organisations See the example below.

(3)
(Competition-Based Incentive Planning – ROI): Using bi-annual competitiveness within a group environment to incentivise employees. Read below. (ROI – Return on Investment)

THE THREE-VALUED STAGES THAT WORK

This example is for employers that have more than 100 employees and wish to offer small group incentives bi-annually to a minority number to promote profits over a longer period. Let’s call it a Competitive group travel incentive. 

PHASE 1 – THE PRE-GAUNTLET.  – This above is known as ‘the build-up or excitement period’. This is as important as the event itself.
Always allow a minimum lead time of three months. There is a good reason for this. By introducing a three or even six-month track period, you allow individuals to digest the value of the prize being offered. The only condition is that only the top 20 (The number is set by the organisation) will be selected.

Once an individual has been qualified for placement on a planned trip, the promoter (eg. HR dept) of the incentive would need to set parameters of the reward. Also, a space is needed between the time of an employee being notified and the actual departure travel date. This time difference between notification and travel allows that key individual to have enough time to tell everyone he or she knows that they have qualified for a travel-based reward.

PHASE 2 – THE EVENT ITINERARY is what those entitled or qualified would be enjoying. These are designed around client guidelines to determine the reward packages being provided.  (SEE NOTE A BELOW).

PHASE 3 – THE GLOATING PERIOD. On the first day back at the office from the incentive travel.
The gossip, the sharing of excitement shared whilst away amongst those misfortunate not having qualified. This bragging stage has its value. Envy often acts as a catalyst for other employees to work harder for the next travel promotion. Targets need to be reachable by everyone so that the scheme appeals to every sector responsible for profit generation. As this is a bi-annual event, the question is that, those who failed to qualify the first time round need to make a greater effort.

The example provided above depicts 100 participants where 20 qualified.
What about the 80 that did not qualify…  That cost for the lucky 20 that were awarded a travel incentive has been subsidised by the excess profits achieved by the 80 participants that fell short of reaching their goal. Remember that the 80 that may not have qualified, but don’t forget how the same 80 has improved profits within the organisation to allow the 20 to travel. SO WHAT HAS IT COST AN ORGANISATION !

NOTE A – All incentives are categorised as an allowable business expense and this goes towards helping an organisation grow. In turn, this will help an organisation also reduce its corporation tax bill. (YOUR ACCOUNTANTS WILL CONFIRM THIS)

Additional information is available through our office.

These are some suggestions for motivating your team:

1. You have to be motivated yourself to motivate others.
2. Motivation needs to be focused on clear, specific, realistic, and achievable goals.
3. Seeing progress towards those goals gives a sense of achievement and helps revive motivation.
4. Motivation never lasts – there are always hurdles along the way that drain energy or distractions that take your eye off the ball.
5. Everyone has different motivations – you just need to find what they are. They may well be different from yours and will give you useful insights into what drives people. Ask your people what they want from their job, and for the business as a whole. Also, what do they want for themselves in life overall?

Your staff may say money is a motivator – but look closely and you will find that it is a stepping stone to another goal. For instance, a desire for power, recognition, early retirement, or travel.

1. A sense of belonging motivates – the smaller the group to which someone belongs, the stronger the loyalty, motivation, and effort.
2. Participation motivates – people feel more motivated when they feel their involvement in a project is important and valued. Often we exclude our greatest assets – the people around us, from decisions in which we could include them.
3. Challenges motivate and people often rise to the occasion. However, it can also be demotivating if they are unobtainable, or conversely, too easy to achieve.
4. Motivation needs recognition and reward – even something as simple as a thank you.

What causes demotivation?

1. Constantly moving goalposts – people lose sight of goals, or feel they will never reach them and so cease to care about them anymore.
2. Not knowing what is going on. If you do not bother to tell people what is happening, you can demotivate and possibly alienate them too. Uncertainty is a very negative emotion within a group.
3. Not showing faith or trust in people.
4. Arbitrary decisions are not consistent for all members of staff, and humiliate people in front of their peers.
5. Pay, work conditions, or available facilities can affect motivation and often small changes can bring large differences.

Some signs of demotivation

1. Increased absenteeism/sickness.
2. Incomplete or careless work.
3. Lack of concentration.

Motivate yourself

Before you can inspire others to extend themselves, you need to develop your own sense of motivation. Here are some tips to help you.

1. Build your confidence and develop self-belief. Success doesn’t always go to the strongest person, but to the person with the greatest conviction.
2. If you work alone, identify an understanding person with whom you can talk through business issues and who will encourage you. A mentor can help here.
3. If you feel overwhelmed by a daunting task, such as sorting out your tax or personal finances, it tends to affect the rest of your attitude. There are three ways you could deal with a large task:
4. Divide it up into smaller chunks and start immediately on the first chunk.
5. Use an independent specialist who can relieve you of the anxiety of dealing with the task and will have more knowledge on the subject.
6. Delegate the task to a member of your staff. Delegation can be a great motivator – but dumping an unwanted job on someone isn’t.
7. Assess, plan, act. Write a plan for yourself for the next year, both in business and personal terms. Set tough, but realistic objectives with timescales. We all react positively to these.
8. Also write down why you want to do something, even if the reasons hardly seem valid. Something as simple as ‘I want a clear desk so I don’t have to start the day in a mess’ is valid. Clean it up tonight and start tomorrow afresh.
9. Use picture power or imagination to ‘fix’ your goals. Have you ever seen something in a shop window and longed for it? It is easier to visualise having something that you can see, so visualise the result you want. Savor the emotions you will feel when (not if) you land that order. Also, collect pictures that summarise these emotions – your dream house, boat, car, or holiday – and pin these around your desk to remind yourself why you are doing it all.
10. Tell people what you are going to do – it will make you feel more committed.
11. Compile a record of past successes. When you feel you are achieving nothing, review your records to remind yourself what you have achieved!
12. Finally – give yourself a pat on the back. You deserve it for having the strength of character to go out and make things happen.

Solutions guides

We have a range of solutions guides covering all areas of business. 

So where is a popular destination?

This is a typical start of many a conversation. We say that it depends on the total flight time. We may have access to many luxury retreats across the globe, but many don’t wish to sit on an aeroplane for over three hours.

The easiest way to do this is to calculate by distance. For example, the UK market travel time of three hours covers most of Europe whereas travellers from the United States cover parts of the Caribbean and parts of Cancun.

We find that a three-hour journey time validates a two-night break period. Please note that for Reward & Recognition packages, the flight time may extend to a fifteen-hour flight time where the total night stay would extend from five, seven, ten, and even fifteen nights.

The most popular places for incentive travel for the European market are Monaco, Greece, Italy, and Spain.

Crete

Pieria