What are Business Travel Incentives?
Business travel incentives, also known as employee incentive programs or incentive travel programs, are a decades-old practice, but even still, many may find a primer on the benefits of running such programs to be very helpful.
In many cases, business travel incentives are exactly what they sound like. Working just like a bonus or other motivational tactics, incentive programs are used to drive productivity in the workplace, whether it’s with a short-term goal in mind or to maintain a strong work ethic over a longer period of time. Business travel incentives are popular with companies’ sales teams, as an incentive trip may be awarded after a certain benchmark is reached or to the most productive team member of a certain time.
Business travel incentives send employees across many industries to incredible destinations, offering them a rewarding and relaxing get-away from work for a short time. The time spent off the job is not just a prize, but can also rejuvenate your employees and drive productivity after their return. It also offers companies an incredibly valuable asset in their attempts to both entice and hold onto top talent.
A 2014 study found that investments in talent were the top priority for future investment, with 81% of those surveyed saying that they were focused on talent. An astounding 93% of respondents also recognized a need for changing, or said they were already in the process of changing, how they attract and retain talent in today’s competitive environment. For many companies, business travel incentives can be a great tool to add to their talent management arsenal.
There’s no better incentive travel management team to work with than the one at American Express Global Travel. Our division, American Express Global Business Travel Meetings & Events, was recently named to MeetingsNet‘s 2015 ‘CMI 25’ list, the ninth annual directory of the biggest and most influential full-service meeting and incentive travel management companies. According to the list, American Express Global Business Travel Meetings & Events managed more global meetings and business travel incentive programs than any other company—accounting for an incredible 44 percent of group incentive travel programs in 2014.
Connect with our expert team of over 1,000 meetings and incentives professionals today to see how we can transform your talent investments.