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SITE Foundation White Papers
Some economists believe that non-cash gifts are inefficient. The argument goes like this: Since it is impossible for the gift-giver to know exactly what would give the recipient the most pleasure, the giver should just give the person cash and let them choose what to purchase. This argument is often heard in the reward and recognition sphere as well. Many managers seem to believe that employee satisfaction will be maximized if they are allowed to freely choose their incentives. This belief of managers is often reinforced by employees themselves. Raise your hand if you have ever heard (or said) this: “Those travel and merchandise awards look great, but we have asked our employees and they told us that they want cash.” If this belief was followed, it would indeed be bad news for an industry that sells over $75 billion of non-cash incentives.”
Incentives Move Business — Part 3: Risk Assessment/Management for Incentive Events
When motivational events are impacted by weather or natural disasters, government or labor unrest, disruption of transportation, medical emergencies, or acts of terrorism or violence, the effects can vary greatly and frequently one reaction is to resort to legal action. As a result, mitigating risk is a vital consideration that should be addressed at the onset of motivational programs and events. On a practical level, evaluating risk and planning how to manage it frequently plays a major role in whether a program is acceptable to a client’s legal department. So, suppliers who address this challenge have an advantage in their service offering.
This third White Paper in the "Incentives Move Business" series provides a process for incentive practitioners to develop a Risk Management Plan.
Thank you to sponsors Bishop-McCann, InterContinental Hotels Group (IHG) and Spectra for their support.
Incentives Move Business — Part 2: Incentive Travel: The Smart Business Proposition
This second installment in the "Incentives Move Business" series focuses on how incentive travel and motivational events, when properly designed, can help companies achieve many corporate business objectives and provide a measurable return on investment.
Companies today face more varied challenges and are experiencing increased difficulty attracting and retaining the high-potential and skilled employees necessary to compete globally. Incentive travel programs have been proven to increase sales, boost productivity, retain customers, hold on to top talent, promote teamwork and decrease turnover, among other results.
Thank you to sponsors Creative Group, IHG (InterContinental Hotels Group), Maritz, Minding Your Business and Viktor Incentives for their support.
“The 'Incentives Move Business' White Paper was published to raise awareness and educate businesses and the general public to the facts supporting the positive impact incentive travel and motivational events have, not just on companies, but on the U.S. economy,” says SITE Foundation Past President Stephen Powell.
Travel is the sixth largest U.S. industry in terms of employment and is a top 10 employer in 48 states. In 2010, the incentive travel, meetings and events segment of tourism and travel accounted for $92 billion of all business travel expense and 6.3 million jobs in the United States, or 45 percent of all travel-related employment.
Travel incentives and motivational events are business tools proven to increase sales and profits, boost productivity, retain customers, hold on to top talent, increase company loyalty, promote teamwork and decrease turnover. When properly designed, planned and executed, incentive travel programs can be self-liquidating and will produce a measurable and verifiable return on investment.
Thank you to sponsor, IHG (InterContinental Hotels Group) for their support.
Download the White Paper (PDF) for more findings on the impact of business travel on the U.S. economy.
Additional White Papers
The SITE International Foundation has issued the White Papers listed below. All copies are in pdf.
A Measurement Model to Validate Performance of a Motivational Experience Program
Measuring Results of Incentive Programs and Meetings in a Down Economy
Dispelling Two Myths – That Measuring A Few Incentive Travel Programs Within an Organization Is an Okay Strategy … and That Meeting and Incentive Travel Measurement Can Happen Without Consolidation
Return on Investment – The How and Why of Incentive ROI (presentation)
Case Study - Toro – Travel Incentives Shown to Grow Sales
Case Study - Brewery – A factual approach that optimizes travel awards to address diversity, increasing motivation and moving middle performers to higher levels of achievement
Case Study - Cingular – Understand How Participants Really Want to be Recognized and Rewarded
Case Study - Major Auto – Incentive Travel Program Improves Morale and Customer Experience