As the U.S. economy continues its struggle to rebound in 2011, EIBTM reported some encouraging trends for the Meetings and Events Industry in their Annual EIBTM Global Industry Trends and Market Share Report.  While not completely out of the woods yet, the report highlights some trends that show significant improvements for the year ahead.

Highlights of the report include:

• Corporate restrictions on business travel have eased significantly
• Cost management for corporate meetings continues to be a key issue for Buyers but keen negotiations and a greater focus on “basics” is the driving force
• Lead time for corporate meetings has shortened from 30-45 days
• Incentive travel has also show a recovery, although not as dramatic as meetings
• Average number of nights for incentive travel has decreased from 6.5 to 4
• Greater focus on domestic or short-distance international destinations to reflect shorter trip lengths
• Predictions for travel in 2011 and 2012 show a positive growth trend

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:

• Incentive cruises are all inclusive, meaning that they are incredibly easy to budget.
• All inclusive means no need to give spending money and collect receipts or give out a prepaid company credit card.
• Cruises are almost universally considered to be enjoyable which probably explains why they have been around for so long.
• Cruises can change the recipient(s) perceptions of the company dramatically, and not in the same way that a ‘fun’ vacation to Nebraska might do the same. A partner might become more amenable to agreements, an employee more loyal, a supplier more reliable, and so on.
• Regardless of the outcome of a cruise, the recipient is likely to sing the praises of the company to any and all that will hear. Nothing beats good word of mouth, nothing.

An incentive cruise can be an excellent way to reward top performers, motivate employees, and save money on travel costs. With typical land based meetings, companies will incur expenses for things such as accommodations, airfare, meals, entertainment, and meeting services. All of these expenses, when paid for separately, can be quite costly. Because company budgets may be more restricted now than they were in the past, incentive travel may not even be on a company's radar. However, it is very important that companies do not suspend incentive travel du to finances. A meeting planner can help companies plan incentive travel, such as a ship charter, that will be enjoyable and affordable.

There are many services that are typically included on an incentive cruise that make meetings at sea ideal. Inclusive services that make an incentive cruise unique include things such as: complimentary room services and in-room movies, round trip airfare and transfers, all meals including snacks and a midnight buffet, production shows, cocktail receptions, and other types of special shows. Cruise shops also provide things such as basic audio/visual equipment, computer equipment, and choice of meeting rooms that may include theater seating as well as light and sound. Meeting planners can assist companies with incentive travel such as ship charters.

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?

Not everyone in the office can get the big promotion and the corner office, but that does not mean that there are no other rewards to dole out to encourage performance and loyalty. In fact, some of those rewards can be tax deductible while simultaneously offering an immediate and direct benefit to the company, such as incentive travel where meetings or other events are part of the plan. Here’s how it works:

• Corporate travel and meetings are very common, but usually the top few people in any department get to go. If a new promotion has been handed out, consider letting the runners up to the position go as sort of a second-place prize. This shows them that even though they may have come so close to getting that coveted promotion, that they are not truly that far away. Special perks are still available, and Joe’s corner office as much as perk as it is a ball and chain.
•  It is usually best not to announce the travel meetings or travel events as a secondary prize before any decision making is done regarding who gets which promotion. Instead, try approaching the proposition of meeting travel as a conically prize as a way to reward those that try so hard to please and perform their duties with diligence. Loyalty and hard work deserve rewards, and those rewards are even better when they help smooth over potentially ruffled feathers while still putting the needs of business first.

Any company considering leveraging incentive travel effectively needs a quick crash course in psychology. This is true whether the recipient is an employee, client, partner, supplier, or even a friend in the government. Psychologists refer to the rule of reciprocity when talking about gifts that are given without any strings attached, and that is arguably the best way to offer incentive travel. Don’t believe it? Read on…

Psychologists and sociologists agree that societies revolve around the rule of reciprocity, which states that a recipient of a gift is effectively indebted to the giver. One good turn deserves another, or so they say. This rule is ingrained so deeply in our minds that it is impossible to get out. Don’t believe it? Think of how Hare Krishinas make their money, and realize that they have hundreds of properties and centers throughout the country, and thousands throughout the world all funded on donations given to people that are generally regarded as annoying. How did they become so wealthy despite being nearly universally avoided and disliked as beggars? It is because they offer flowers or trinkets before asking for donations.

This same force can work for companies that offer no-strings attached incentive travel. Workers will feel indebted and become more loyal and productive, partners may start offering better deals, that friend in the government may be willing to repay the favor someday. Generosity has its perks, so be sure to make travel incentive a no-strings attached deal for the best results, even if it seems counterintuitive.

Flying can be a real hassle. Not only can flying be more trouble than it is worth, but it can also be very expensive. When businesses have to factor in the cost of round-trip airfare into their incentive travel budgets, they often find they have few resources available to plan exciting entertainment and dining options for travel participants. Because airfare often requires a large percentage of the travel budget, businesses are often faced with the task of making the remaining funds stretch as much as possible. When planning incentive travel, consider an incentive cruise as a reasonable, affordable, and thrilling option with no flying required.

While participants of an incentive cruise do have to get to port, a number of these ports are located within a five hour drive of many of the major cities. At least 50 percent of the population of the U.S. is within a 5 hour drive of a cruise ship's port. Since a ship charter can cost up to 40 percent less than a land venue, such as a hotel or resort, businesses will not have to worry about making their budgets stretch. Exciting incentive travel can be accomplished without having to pay for expensive airfare or deal with the headache of flying.

Incentive travel is an wonderful way for a company to not only show top-performing employees their appreciation, but to provide them with the motivation they need to continue to be at the top of their game. When organizations are considering planning incentive travel, there are numerous destinations from which to choose. Whether the destination is close to home or across the ocean, it is important that the travel incentive spark the interest of the organization's employees. If employees are not interested in the travel itinerary or destination, the motivational aspect of the trip will be moot and productivity may be stifled. Increasing productivity is an important factor.

While these land venues such as hotels and resorts can be quite interesting and are often located in desirable cities, employees may not find these types of meeting venues as attractive as other types of incentive travel. One type of incentive travel that is becoming popular is incentive cruises. An incentive cruise allows organizations to hold meetings at sea while treating their employees to tropical, exotic, and far away destinations. Incentive cruises provide employees with a serene setting to think outside the box which can lead to increased productivity. Increased productivity and paradise? It can happen with an incentive cruise.

When companies choose a hotel or resort located in an urban area for their incentive travel, there are a variety of places for travel participants to dine, shop, and be entertained. However, the logistics of getting everyone to the locations they desire to be can be quite hectic and expensive. Travel participants may not take full advantage of the incentive travel simple because traveling between locations is simply too perplexing. When companies choose an incentive cruise for their employees, these problems can be avoided. Because shopping, dining, and entertainment is all located on the ship, many of the logistical nightmares associated with land venues can be circumvented.

On board a ship charter, there a number of dining, shopping, and entertainment options. From gourmet to buffet, participants can enjoy a variety of delicious cuisines. Cruise ships even offer pizza on a 24/7 basis. In addition to numerous types of palatable fare, a ship charter offers exceptional shopping adventures. Items found on most cruise ships include things such as clothing and apparel, jewelery and watches, perfumes, and even candy. If cruise event participants think that dining and shopping opportunities are infinite, they will be equally impressed with the number of entertainment options available on-board the ship charter.