A 3-part blog series giving you the highlights and 'need-to-know' facts from a recent SITE Foundation & IMA incentive participant survey - so that you can stay ahead of the corporate incentive curve.
This Site International Foundation and the Incentive Travel Council of the Incentive Marketing Association jointed sponsored The Participants Viewpoint Study - a research project delving into participants views on travel as a reward.
The study looks at what participants feel makes incentive travel meaningful, motivational and memorable, providing insightful information for corporate organisations, travel agents/planners and DMCs.
This 3 part blog series will highlight the key aspects of the report's finding that are most relevant to our clients - the corporate travel planners/agents - and how we work together to achieve successful corporate incentives in Scotland.
But first, lets take a quick look at some of the incentive traveller traits that the survey identified:
- 83.3% male, 17.7% female
- Median age: 44 (between 35 – 54)
- 69.8% are married
- 62% have no children at home
- 43% work in sales
Part 1: Incentive Travel as a Meaningful Motivator
- 77.7% of respondents agreed or strongly agreed that the incentive reward goal was achievable. Not surprisingly, those who earned the reward felt it was more achievable than those that did not
- 95.5% of those who earned the reward said they were a little motivated, motivated or extremely motivated to win the reward – and 90.7% of non-earners were similarly motivated
- 54.1% of earners said their motivation towards working for the next reward would increase or significantly increase for the same destination, 66.8% said it would for a new destination. Non-earners also expressed a desire for a different destination
- 61.6% believe travel is more effective than merchandise, whilst 36.6% said cash would be more effective than travel. However, 40.9% said that more paid holiday entitlement would be more motivational than travel
- Group travel accounted for 37% of total motivational travel rewards, 63% for individual travel
- 67.4% of non-earners said they would work harder in the future to earn incentive travel rewards
What does this mean for travel planners/agents and DMCs?
- Incentive programs still motivate employees... yippee! We can rest easy knowing that incentive travel is still a motivating reward :)
- Changing the destination year on year is effective. Strong partnerships between travel planners and DMCs in a wide variety of destinations will be beneficial so; (a) the planner can confidently offer clients a variety of locations and (b) the DMC can win repeat business from the travel planner and different end corporate clients
- Increased annual leave is viewed as more motivational than incentive travel, however, companies are less likely to substitute travel due to the added benefits it provides - camaraderie, positive memories, relationship building, loyalty etc.
- Individual travel is a large percentage of overall travel rewards. Travel planners/agents and DMCs need to reinforce the benefits of group travel, which include the ones listed above
What do you think about the results above? Are they surprising or as you would have expected? Tell us what you think!
The survey was designed with assistance from practicing incentive managers and other incentive industry professionals. The survey was then assembled by the marketing research firm, Researchnow. There were 1,003 valid responses from individuals who had been eligible.
Copies of the report are available at: www.siteglobal.com/Foundation/Research.aspx.