Finding top talent is challenging. Many business leaders are struggling to attract and retain talented employees. Motivating millennial workforces is another obstacle leaders continue to encounter. What’s the solution? Incentive travel rewards employees for meeting performance objectives or recognizes them for years of company loyalty. Businesses who offer travel experiences as a new work-perk are being rewarded with teams that are highly engaged and more satisfied.
How can incentive travel provide an opportunity for employees to make a positive impact?
Millennials are now well-known for influencing two major trends: choosing to spend their paychecks on experiences rather than material goods and high demand for socially conscious companies and brands. Incentive travel addresses both of these trends. According to a recent study on millennial engagement in the workforce, 83 percent of millennial workers reported that they would be more loyal to a company that enabled them to contribute to social and environmental issues. Eighty-eight percent reported that they find their jobs more rewarding when their companies provide opportunities to provide a positive impact on social and environmental issues. Recognizing this demand, many companies have launched paid-volunteer programs that encourage their employees to pursue social impact projects. Employees may choose to use their paid-volunteer hours on international, skill-based social projects.
Highly competitive companies such as Etsy, Salesforce, and Novo Nordisk offer volunteer leave or paid volunteer programs to their employees, offering up to 56 paid hours or seven days per year of paid volunteer hours. These incredible benefits reduce turnover and allow the business to deploy its employees to do more good in the world. As part of their certification process of becoming a B Corporation, companies such as Etsy have created volunteer programs to ensure their company is meeting social goals as well as business ones. These companies recognize that more and more employees want to be part of workplaces that prioritizes giving back. These programs help employees apply their professional skills to a social cause, offer new leadership opportunities, and enable businesses to give back to worthy causes by donating employee skills rather than just writing a check.
Incentive travel and paid-volunteer programs are meeting the changing demands of today’s workforce, and allowing businesses to provide incentives with a social purpose.
Still not convinced?
Those who take advantage of vacation time and travel have greater career success and productivity at work. However, despite this easy solution, a shocking 52 percent of Americans aren't using the vacation time awarded to them. According to Project Time Off, frequent travelers are “18% more likely to report receiving a promotion in the last two years.” Taking vacation and traveling increases breakthroughs, creativity, and innovation, all attractive skills in today’s workforce. Start a program at your company for incentive travel and help your team take advantage of travel opportunities that have the potential to benefit your whole company.