The Incentive Travel Council of the Incentive Marketing Association (IMA) recently published an article touting incentive travel that cites data from the Incentive Federation noting that 38% of all U.S. companies with revenues of more than $1 million offer some sort of incentive travel, and that between the fall of 2014 and the fall of 2016, the average amount spent on incentive travel by companies increased by 10%. The article, “Why Incentive Travel Leads in Inspiring Employee Performance” by Michael Upp, Senior Vice President, Mitch Stuart, Inc., adds that this trend will only increase as the number of Millennials in the workforce expands, as they like to travel abroad as much as possible. Other key highlights:
- A 1997 study conducted in England showed an 18% increase in productivity when employees are offered travel incentives.
- According to Psychology Today, travel generally, and international travel specifically, helps make people less emotionally reactive to day-to-day changes.
- The Deloitte Human Capital Trends 2016 study says that one in four Millennials would be willing to move to a new company right now if they felt it was a better fit.
To read the full article, click here.