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Travel Incentives Better Than Cash Incentives



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In the discourse of human resources, it has long been held that cash incentives prove to be greater means of motivation and reward mechanisms than non-cash incentives. After all, the salary is usually the first thing candidates consider before joining a company, and give second-priority to fringe benefits, such as holidays and work hours.

New research has shown that employees respond better to travel incentives as they do to cash. According to the SITE International Foundation, incentive travel, such as spending a week in the Bahamas helps eliminate work stress, revitalize mental energy and strength, and provide greater energy and commitment to pursue work upon their arrival.

This gives HR managers a new insight into providing effective ways to increase worker productivity and motivation levels that can help produce greater organizational output and competitive edge. The Journal of Economic Psychology affirms this when employees are made to choose between the two options. Upon realizing the benefits, employees favor travel incentives over cash incentives.

What the Research Shows

On paper, employees are generally inclined to prefer higher pay over other, non-cash, incentives. Research conducted by the Incentive Travel Council and the Site International Foundation found that more than 90 percent of employees believe they are more motivated by travel incentives as opposed to higher pay levels. Organizations can benefit from using this to their advantage in order to reduce labor turnover and lack of motivation among their employees. This can also be crucial for strengthening corporate employee culture to hire good talent in the future.

Companies are also tailoring incentive travel to their employees, into their employee reward mechanism. Based on the performance, all employees that show remarkable productivity and growth targets are shortlisted as nominees for family vacation packages.

Why Incentive Travel Is Better?

The benefits of incentive travel extend well beyond mental rest and relaxation. It provides employees an impetus to grow by building new experiences and relationships that become firmly etched onto their minds for a lifetime. As a result, they witness feelings of gratitude, satisfaction, and appreciation that could not otherwise be fulfilled by cash incentives. Furthermore, the opportunity to spend crucial time with their family and friends helps put any work-life imbalances into order, giving them increased mental and psychological health.

How Companies Can Use Incentive Travel To Boost Worker Morale?

If you are keen on providing employees with a robust and life-changing incentive travel experience, Power2Motivate is ready to serve your needs. The company specializes in offering customized HR solutions to increase employee engagement and commitment to their work to increase your competitive advantage.

The success of any reward mechanism or incentive system for employees depends on how efficiently it is been organized and tailored to suit a company's individual needs. Considering the number of employees in a company or organization, keeping track of travel incentives and their effects on productivity require a computerized system of inputting data in an easy-to-organize database.

This article was written by Romalyn Casia for on .

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