Incentive travel horizons
Many corporate incentive travel programmes are being postponed, not cancelled. This information comes from the Incentive Research Foundation’s July survey in the USA. Nearly 40% have been rescheduled for 2021. However, budgets are being protected. Companies recognise the value of incentives. Alternative motivation strategies are being employed to keep incentives alive.
Incentives sustain performance
Keeping incentives alive has always been an important part of event management. “Teaser campaigns” promote the allure of the incentive destination. Interim recognition awards and personalised gifts help to maintain commitment. Regular communication is vital in these uncertain times.
The report says “We are increasingly hearing about virtual award ceremonies, gift boxes full of logo’d merchandise, and other creative ways to recognize participants while they wait for their postponed award trip. Nearly 42% of respondents who have postponed their incentive travel award trip are using alternative means to recognize or celebrate their award winners in the interim.”
Incentive management solutions
Staying in touch with your key people is particularly important when many are working from home. Teams are dispersed and working remotely. Consequently, the excitement and anticipation around incentives can be diluted. Virtual events will restore confidence and improve engagement.
There are cost-effective and stimulating solutions available. Live “virtual events” make a real impact. This means that keeping incentives alive is still possible. Reward and recognition deliver results.