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In order for business incentives to be effective they need to meet certain criteria and avoid certain pitfalls. Here are the dos and don’ts of planning successful business incentives:
• Do offer the incentives as a competition or drawing in order to get as much benefit from as many people as possible with as little money as possible. • Don’t consider giving substantial incentives away without a reason. • Do consider giving smaller incentives away periodically as well as in lieu of winning larger incentives. Coffee mugs with corporate logos are a great incentive for just about everyone! • Don’t consider giving minor gifts as rewards for great actions. If Bob from the help desk saved the company $8,000 a month by helping set up a new VoIP calling system then giving him a mug as a reward is insulting. • Do consider offering incentives to employees that find new ways to save money. Some companies do with the best incentive of all: a percentage of the savings for a set period of time. • Don’t consider altering deals later just because of the bottom line. Trust is an important factor in any business relationship and it is nearly impossible to rebuild once seriously abused. • Do consider different types of rewards for different types of employees, partners, suppliers, and so on. Incentives that work for employees probably won’t work well for suppliers.
Incentive travel has proven to be a very important and cost effective way to motivate entire groups of people, but many people have shied away from incentive cruises because of the perception that cruises are simply too expensive. If this sounds like you then go grab an accountant and crunch some numbers and you will probably find that it is almost impossible to beat a cruise once everything is considered properly. Here’s what you need to look at: • Cruises are generally all-inclusive, a fact that means less time is spent planning. How many hours of company time can be saved by not planning everything? Add them up and add them to the scales of financial feasibility. • A cruise gives people the chance to relax 24/7 from the time they arrive until the time they depart. Put a dollar value on the relaxation factor and add that to the equation. • Since cruises are almost uniformly all inclusive, there is no risk of issuing a company credit card nor is there a problem to be had when the recipient(s) discover that they should have brought cash along with them and feel that the ‘gift’ is now costing them money. • The value attached to an employee, partner, supplier, or other person that is singing your praises to their colleagues versus the cost of advertising to those people in the same manner. Nothing beats word of mouth advertising for a reason, and cruise incentives are extremely cost effective even if only measured in this one way.
Any company that is reviewing its incentives and bonuses needs to keep an eye on the bottom line while simultaneously trying to find the best value possible for their spending dollar. It is simply a question of economics, but that does not necessarily mean that an affordable trip to Nebraska is going to seem attractive. A cruise on the other hand is almost always a great travel option worth considering and can be surprisingly affordable. Here’s why cruise travel should be on the incentive plan of any company with travel incentive options:
Have you ever pondered why or if employee incentive travel is more favorable than a cash bonus? Is there more to incentive travel than only honoring employee(s) for a job well done?
Appreciating the things that motivate your employees is a valuable aspect of conducting business. It is vital to know precisely what motivates each person as an individual. If the bonus were a trip, where would your employees like to go? Would they like to be pampered with a spa vacation, go on a cruise to exotic destinations, or is they more attracted in open-air activities such as skiing or golf? Adapting the bonuses you offer is more likely to persuade employees to do their greatest to win the trip.
Incentive travel is an issue in keeping valued personnel members. It is more cost effective to retain skilled employees working for you rather than to train new workers on a regular basis. Thanking employees for a job well done is something else that should not be overlooked. Those two words can incite workers on toward a common goal, particularly in challenging times.
Team efforts that earn a wonderful trip for the team involved promote the weaker members to work toward the capability level of the stronger team members. Contests can stimulate but they can also make staff to work against each other. Cooperative efforts many times get more valuable results and turn out employees who are more loyal too.
An all inclusive cruise meeting is one great way to motivate and thank employees. Putting together a corporate event such as a conference or a business meeting at sea makes a lot of sense, especially when it comes to getting the greatest value from the investments. Cruising can literally slash the cost of land based venues by 25-40%, allowing planners to persevere with today’s shrinking budgets. Why not make your next corporate incentive event a meeting-at-sea?
Meetings at sea are all the rage, and it is easy to see why. Meetings at sea have all the luxuries and necessities needed to conduct business meetings, but they are so much more. Just what do meetings at sea have to offer businesses and organizations that have traditionally used hotels and conference centers? How about:
Last minute planning is always a no-no, but sometimes it is unavoidable. Unfortunately, some bosses drop last minute meetings on their meeting planners and expect everything to be ready. Here are four tips to planning a last minute meeting without it turning into a debacle:
• Anticipate – Record the times and locations of every meeting as well as other related data. If it looks like the powers that be seem to like Friday afternoon meetings with deli snacks, then you should know what is coming without being told. To this end, keep all relevant supplies and coupons stocked, and favorite restaurants that deliver on speed-dial. • Take imitative – You do not necessarily have to wait to be told about meetings in every case. It is usually acceptable to ask about meetings unless you have been expressly directed not to do so. • Check schedules – Are the powers that be showing open schedules are the same time? If so, this might be a clue that a not-so-surprise-to-them meeting is getting set to be dumped into your lap at the last second. Now you have some warning! • Have a to-go kit ready – Do meetings require certain tools or props? If so, keep all these props in a suitable to-go bag and have it ready 24/7. This will give you more time to get everyone into the meeting room and you will spend less time getting yourself prepared.
Because cruises exude luxury, many businesses mistakenly believe that incentive cruises are beyond their budgets. Many may not even consider a cruise event or ship charter as a business incentive due to the “cost” of the cruise. However, incentive cruises are really no different than other forms of business incentives. For example, the cost to secure accommodations for a group at a hotel can range significantly. Some hotels and resorts are much more expensive than others. This same concept applies to cruise events. When businesses opt for meetings at sea, the business can find a price point that will be right for them.
The type of cruise a businesses chooses should be based on the needs of the company as well as the participants. Businesses rewarding a few employees with a business incentive such as a ship charter may desire a more luxurious cruise, while businesses treated hundreds of employees to a cruise event may opt for a more basic cruise package. Not only can a cruise easily fit in the budget of almost any business, but an incentive cruise can be very motivating for employees. Even when businesses have a price point to meet, they should still consider an incentive cruise as a viable option.
When group cruise planning, a bigger cruise ship is not always better. While larger ships can be extremely advantageous, for some groups a more intimate setting on a smaller charter ship is preferable. Even though some charter ships may be smaller, these ships still feel spacious and very accommodating. By choosing a smaller ship for an incentive cruise, businesses can create a more personalized experience for cruise event participants. Smaller charter ships still offer amenities such as sizable conference rooms, fitness facilities, lounges, panoramic ocean views, and spas. By choosing a smaller ship for an incentive cruise, participants will not miss a thing.
One of the most significant advantages of smaller charter ships is their ability to dock in destinations that are not oft-visited. In many cases, these ships can dock in exotic destinations not available to larger cruise ships. Cruise event participants may be greatly motivated by corporate travel that is out of the ordinary. Visiting exotic destinations on a ship charter that feels intimate but roomy will likely be high on the list of participants' preferences. While this type of cruise may seem like it would be more expensive than a larger cruise ship or land venue, businesses may be surprised at their affordability.
When companies or organizations want to increase sales, production, or services, a common method of motivation is to give the players gifts that encourage them to have a positive attitude towards the hosting business. With today's economy putting a crunch onto all types of promotional gifts, some smart companies are beginning to mix business meetings with unexpected pleasures for their deserving employees or clients.
The vacation trip industry has been hit hard by the spider-web of recent economical woes. At all levels, lodgings and vacation oriented transportation options are discounted to encourage participation. For company representatives that are searching for ways to spice up their next business meeting or conference plans now is the time to explore the possibilities of hosting the next meeting rendezvous at a traditional vacation destination.
Cruise ships and large vacation home rentals are both fun money saving options over traditional business meeting plans. When a group of people can be housed in the same location with room to work, there is no reason not to explore the options of placing your team into a working vacation situation while they are on the road to take advantage of the greatly reduced vacation plan savings that are being off
The benefits of a cruise meeting includes free food, large comfortable conference rooms, after-hours entertainment, and plenty of activities to keep the attendee's family members busy, too. Another huge benefit of an incentive cruise is the cost savings. Since a cruise is all inclusive, you may save as much as 40 percent over the cost of a land based venue. In addition, the ROI of a cruise event over other types of incentive trips is typically among the highest. So sourcing an incentive cruise makes good business sense.
This year is a very good time to look into holding your next important business meeting at a desirable vacation spot getaway location or on a cruise ship.
An all inclusive cruise event can save you up to 40% compared to land based venues since so much is included. Meals, meeting rooms, A/V, coffee breaks, activities, entertainment and even room service are part of the all-inclusive cruise fare.
It is no surprise that employees are motivated to work harder, increase sales and productivity, and improve their performance when they know that their efforts will be rewarded. Everyone likes to feel appreciated and to know that their hard work does not go unnoticed, which is why it is so important for all companies to implement some type of employee appreciation or incentive program. Some companies offer merit raises, performance-based bonuses or branded merchandise as prizes, while others choose gift cards or cash awards. While each of these options has its own particular appeal, incentive travel truly is the best, most effective choice that is often much more appealing to employees.
Here are five reasons your company should choose incentive travel to motivate your employees: 1. Incentive travel – whether it is a two-week European adventure or a weekend trip to a nearby ski resort – is far more memorable than other incentive options and will have a longer lasting positive effect. 2. Cash and gift cards are nice, but incentive travel provides your employees with the opportunity to actually have new experiences and enrich their lives. 3. Depending on your industry and pay scale, the incentive travel you offer might actually be a once-in-a-lifetime experience for your employees. 4. Incentive travel, such as incentive cruises, is generally perceived to have a much higher value than the actual cost to your company. 5. Offering incentive travel is much more personal than handing out gift cards or branded merchandise and is a more meaningful expression of your appreciation.