Rewarding employees and clients with opportunities for traveling to desired destinations has been proven to boost company engagement and loyalty. After interviewing 1.4 million employees and clients, a recent Gallup study shows that those with a high level of engagement will increase that organization’s productivity by 22% and consequently lead to a higher rate of success.
These findings mentioned above confirm the results of an earlier study carried out by Aberdeen Group: They surveyed 312 organizations about their sales effectiveness practices and accomplishments, specifically to understand how sales performance management is effectively deployed. Their findings showed that the top 20% of companies (aka the “Best in Class”) had the following profile1:
- 16% higher average sales quota than all other firms
- 12% average year-over-year increase in team attainment of sales quota versus a 6% decline for laggard organizations
- 10% average year-over-year increase in percentage of sales reps reaching quota versus a 6% decline for laggard organizations
- 88% customer retention rate versus 14% for laggard organizations
- 8% increase in average deal size year-over-year versus a 1.5% decline for laggard organizations
Aberdeen was able to find one common factor among the top performers: 100% of “Best in Class” companies offered group travel and 100% offered company sponsored events to recognize year-end sales success.
With 74% of all U.S. businesses offering non-cash incentives2 and 100% “Best in Class” businesses offering incentive travel, rewarding your organization with travel is not only a must, but will prove a win-win for your employees and clients.
1Aberdeen Group, Research Brief, February 2013.
2Incentive Federation, IFI Cross-Section Research Report, “U.S. Business Use of Incentive Travel Awards”, October 2013.