Incentive travel horizons

A July survey by the Incentive Research Foundation in the US revealed that many corporate incentive travel programmes are being postponed, not cancelled.  Nearly 40% have been rescheduled for 2021.  However, budgets are being protected.  The value of incentives is recognised.  Alternative motivation strategies are being employed to keep incentives alive.

https://theirf.org/research/irf-pulse-survey-covid-19s-impact-on-the-incentive-travel-industry-july-2020/2835/

Incentives to 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.  In these uncertain times regular communication is vital.

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.  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.