If workplace morale in your company has been declining lately, you’re certainly not alone. A shocking 60% of employees are emotionally detached at work. With the global employee engagement rate plummeting to just 21% in 2022, it is no surprise that 80% of American employees also report they don’t feel recognized or rewarded for their workplace contributions.
So, how can employers re-engage — and reward — employee performance? With employee travel incentives! Incentive travel programs, such as discounts on travel and exclusive experiences, reward employees for their workplace contributions and motivate them to maintain top performance. In fact, incentives can improve employee engagement by as much as 34%.
Discover how to boost engagement, retention, job satisfaction, and even company culture with employee travel incentives.
The Power of Employee Travel Incentives
Let’s start with the basics: What are employee travel incentives? Employee travel incentives are travel-based reward and recognition programs to motivate and acknowledge top-performing employees for their ongoing workplace contributions. Employee travel incentives include free or discounted travel, hotel stays, and exclusive activities.
So, how can incentives improve employee performance? According to recent employee surveys, employee incentives can:
- Increase employee engagement. Employees who feel their employers value and appreciate them are four times more likely to be actively engaged at work.
- Improve employee morale. Employees who feel recognized are five times as likely to feel connected to their company culture and equally as likely to see a path to growth.
- Enhance employee retention and loyalty. Organizations prioritizing employee recognition are 41% more likely to experience increased employee retention.
- Boost overall job performance. Companies that take the necessary steps to engage workers have 23% higher profits than businesses that do not reward employees.
There are two best practices for implementing employee travel incentives that go beyond rewarding top performers and focus on long-term engagement and retention. First, you must ensure your travel incentives are aligned with your overall business objectives. Second, you must have clear policies in place for employees to participate in incentive trips and travel rewards.
The Effectiveness of Discount Programs in Driving Employee Performance
In addition to employee travel incentives, which range from hotel stays to unique experiences, employers can offer discount programs for employee travel. Discount programs make travel more affordable (and accessible) for employees, which can encourage them to use their PTO for quality time with family or to recharge — either of which enhances the ever-important work-life balance.
Two-thirds of employees cite a healthy company culture, including a stable work-life balance, as the main reason they elect not to leave. To improve engagement and retention efforts, employers can deploy various discount programs for employee travel incentives, including online travel agencies (OTAs), corporate travel loyalty programs, and even cash bonuses toward travel.
To ensure your corporate incentive travel discounts work in the favor of your employees, research the best discount programs for your industry, such as rewards programs for financial institutions. Likewise, consider your employee demographics to gauge relevant discounts. For instance, older employees with children might prefer family-friendly travel, but child-free employees may not.
Communicating the Value of Employee Travel Incentives and Discount Programs
Should companies use travel rewards as incentives for better employee performance? Without a doubt! Incentive travel programs and discount programs offer a ton of value to employers, including improved employee engagement and performance that can boost profit by 23%. However, these programs also offer value to employees, which must be communicated effectively.
Use clear and concise language to highlight the unique value of travel incentives on a regular basis through channels like:
- Email campaigns
- In-person meetings
- Internal newsletters
- Team-building events
By communicating the value of employee travel incentives and discount programs, you can increase employee participation, improving overall employee engagement. Communication is also integral to ensure employees understand the benefits of incentive travel, both in terms of reward and recognition for performance and their ongoing work-life balance.
Analyzing Data and Making Data-Driven Decisions
Now that we’ve breached the question of ‘what are the positive effects of incentives on employee performance,’ we can address how to measure the positive correlation between employee travel incentives and performance. To understand the impact of employee travel benefits and identify areas of improvement, you must assess the surrounding metrics and make data-driven decisions.
First, ensure you have the right data collection and analysis tools in place to use clear and concise reporting. Next, use the program data to make informed decisions that drive employee performance. Examples of data to analyze include employee participation rates, current cost savings, and employee feedback that can be garnered through routine satisfaction surveys.
If you notice that employee participation rates have remained stagnant or decreased, you may need to address how you communicate your program’s value or confirm your employees understand the policies and procedures of your travel incentives. Similarly, you may need to return to your chosen travel incentives or discounts to confirm your benefits are relevant to employee preferences.
Arrivia: The Leader in Employee Travel Incentives and Discount Programs
When you need something special to re-engage employees and reward them for their ongoing workplace contributions, look no further than employee travel incentives. Unlike other employee benefits, employee travel incentives enhance engagement and retention, support a vibrant company culture, and enable a healthy work-life balance that can improve employee performance.
Get a head start on your travel incentives by partnering with the experts at arrivia. With over 25 years of experience, arrivia is a leader in customizable travel incentives and discount programs. We boast robust data analytics tools and customer support to help businesses drive employee performance with travel rewards that are aligned with overall business objectives.
What are you waiting for? Begin building a corporate incentives travel program with arrivia today!