What are the top factors to consider in planning an incentive ?
Typical factors in planning for an incentive are about site selection decisions as well as activities. In 2019, Oxford Economics, a leader in global forecasting and quantitative analysis, with the world’s only fully integrated economic model and 250 full-time economists, queried 2,600 incentive travel professionals from 100 countries.
By doing so, and under the patronage of SITE (https://www.siteglobal.com/siteindex) an Incentive Travel Industry Index was produced, providing key insights about the incentive travel business. The following are highlights from this leading industry indicator.
Designing and planning your next incentive is not an easy task. There are many parameters to take into account, many boxes to check while there are many people to please
What are the top factors driving site-selection decisions
Among the chief factors to consider while selecting the right site and program for an incentive, infrastructure and overall safety are not surprisingly the topmost preoccupations. Infrastructure overall mean quality hotels, good coordination, using safe and well maintain transportation means, excellent restaurants.
Overall participant safety is the other aspect to consider first and that include a number of parameters among which having an emergency-preparedness plan, mobile event app to communicate risk-management issues, not forgetting social media policy. Organisers will expect a thorough list of compliance requirements, as well as extra physical security when needed.
In addition, organisers may need to be ready with extra IT security, vendor security audits and extra medical personnel.
- Infrastructure, such as quality hotels for handling incentive programs 83%
- Overall participant safety 82%
- Appeal of destination to participants 81%
- Value for money 77%
- Presence of a good destination management company 63%
What are the top activities
Besides safety and infrastructure, appeal is the third most important aspect and no successful incentive would take place without a destination every one is excited about and activity as appealing and inspiring.
Among activities the top preferences for participants across all populations are primarily flexible activities for individuals or small groups of qualifiers, as well as activities promoting wellness or in support of a CSR or other sustainability objectives.SITE survey results
Group cultural or sightseeing experiences were considered the most important program inclusion by 52 percent of those polled. Dining experiences were a close second (50 percent), followed by team-building activities (42 percent), luxury experiences/bucket-list inclusions (35 percent) and CSR activities (33 percent).