Incentive Program Terminology: Part Two
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Researching incentive programs and choosing the right one for your company can be difficult if you don't know how to find what you're looking for. That's why we're sharing with you the terms and terminology you need to plan and implement an incentive program with ease. Use the embedded links to find more information about programs you can incorporate into your management plan today!
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Incentive Program Terminology: Part Two
- 1. Part Two Brought to you by United Incentives, Inc. The Language of Incentives
- 2. Talk the Talk This handy guide will help you translate what you need into proper industry terminology so that you can efficiently research and plan the best incentive program for your company.
- 3. You Say… The destination and propertyof my incentive travel program has been narrowed, but I’ve never actually been there, so I’m not sure if it really is the best fit for my trip. We Say… Site Visit: A site visit is when you and your incentive provider’s account manager will travel to your program destination and conduct a thorough evaluation of the location, property and venues to ensure that it will work for your program group and events.
- 4. You Say… My management is skepticalabout incorporating incentive programs into our company. I need a program that yields measurable results that they can quantify and track. We Say… ROI (Return On Investment): When planned properly, it is possible to measure the successof your program and show exactly how it is benefitting your company’s bottom line.
- 5. You Say… My company has tried motivating employees with bonuses, but it hasn’t been working. What do we need to engage and connect with our employees? We Say… Buy-In: Incentive programs need the buy-in of the potential qualifiers to be successful. A good incentive is structured to gain this buy-in by featuring specific thresholds for achievement and offering aspirational and desirable rewardsthat are achievable. A professional incentive provider is invaluable to help you design a custom program to match your company culture and mission and gain the buy-in of your employees.
- 6. You Say… My company needs something that will keep the focus and attentionof our employees on the program so they are better engagedin our mission and day-to-day work. We Say… Gamification: Building game mechanicsinto your incentive programs can increase the engagement and program participation of your employees.
- 7. You Say… Our company is trying to communicate our brandto our employees while also rewardingthem for their achievements. It is important that this trip is also productive and allows the chance for team building. We Say… Group Travel: Group incentive travel programsallow qualifiers to bring their spouses and sometimes even their children to a destination which creates a relaxing, carefree environment. All attendees travel to the same destination at the same time which allows the program to include business meetings and structured group activities.
- 8. You Say… My company wants to provide aspirationaltravel experiences for high achievers that they can experience on their own. We Say… Individual Travel: Travel experiences gifted to top achievers that they can take on their own at leisure. These trips are typically for a couple or family and are not a part of a larger business meeting or group trip.
- 9. Interested in learning more? Visit our website or connect with us on social media!.