At Reach Meetings & Events, we know there is one simple but compelling reason why incentive travel is used by successful companies - it works.
For every dollar spent in travel, businesses benefit from an average of $12.50 in increased revenue and $3.80 in new profits. An employee’s total base compensation would need to be increased by 8.5% to achieve the same effect as from incentive travel. Though people may say they prefer cash, non-cash rewards are two to three times more effective than cash rewards.
Management reasoning has evolved beyond traditional compensation as a means to increase employee engagement and productivity. Why? Because non-cash incentives, particularly travel, capture employee’s attention and create memorable experiences.
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