A recent study by the Incentives Federation, Inc. shows that 74 percent of businesses in the U.S. use non-cash rewards such as incentive travel to reward and recognize key personnel and other groups. This broad utilization of such incentives equals an annual investment of nearly $77 billion by these companies.
Surveys have shown that incentive travel impacts happiness more than cash. Who wouldn’t be excited about a weekend in Las Vegas or a week in Costa Rica? After all, there is a reason that travel and experiences are such popular incentives — they work.
Group incentive travel can educate, improve morale, build team spirit,
increase loyalty and provide quality time for management to network with top
performers. Not only do these types of incentives reward high performers, but they also help them to bond to each other, increasing the likelihood that they will stick with you for the long run.
Group Incentives help:
- Increase sales motivation
- Drive sales results
- Improve profit margins
- Build customer loyalty
- Engage channel partners
- Launch new products or services