Financial rewards such as bonuses, cash, and merchandise are common rewards, but far less effective than non-cash incentives. The Incentive Research Foundation discovered that travel is the most preferred award for high-producing employees. (1) Other research conducted by the Incentive Travel Council and the Site International Foundation found that more than 95% of employees believe they are more motivated by travel incentives than by higher pay levels. (2) Furthermore, 72% of people who earn a travel reward feel increased loyalty to their company. (3) But if that doesn’t convince you, consider the fact that a well-crafted travel incentive program can increase productivity by 18% and produce a 112% ROI. (4) If you wanted to achieve that kind of success with a cash incentive, you’d need to increase your employees’ base compensation by a staggering 8.5%! (5)
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SOURCES:
1 https://bit.ly/3zAKRvT
2 https://bit.ly/3zCM3yJ
3 Ibid.
4 https://bit.ly/3ph4BA9
5 https://bit.ly/3Q5JUCG
- Building a Culture of Informal Mentorship - June 2, 2025