A new case study from the Incentive Research Foundation (IRF) provides a strong example of the value that incentive travel can provide to a company. The manufacturer examined in the study reported that 87 percent of its dealer and channel partners who participated in its incentive travel program viewed the incentive program as a bonus for a job well done.
The case study surveyed approximately 2,000 of the manufacturer’s dealers who had the opportunity to qualify for the incentive travel program, depending on whether they were able to meet year-over-year sales growth and product mix goals. Approximately 20 percent of these dealers earned the trip award.
Additionally, 85 percent agreed or strongly agreed with the statement that they “appreciate the manufacturer providing an incentive travel trip.” More than half of respondents said that the program was important for creating and strengthening business-to-business partnerships. More than 80 percent of the dealers agreed or strongly agreed that, “the manufacturing company provides competitive quality products which help increase my sales and opportunity to earn the incentive trip.”
The study’s authors emphasized that the report demonstrated the importance of demonstrating fairness in developing an incentive travel program.
“Companies should understand that the perception of fairness in the earning criteria has the most impact on satisfaction with the program from the participant’s point of view,” the report states. “It is recommended that companies carefully review the earning criteria and its communication with all potential participants.”
In addition to fairness, the findings point to how incentive travel programs can strengthen employee relationships and improve worker satisfaction, with the report stating, “Quality time with peers and executives has a positive influence on business-to-business relationships and should not be underestimated.”
The full case study is available for download here