Employee Incentive Statistics That Will Blow Your Mind!!

Recognition and Employee Incentives rank very high on an employee’s list of needs; if they feel valued, talented employees will go to the ends of the earth to help their company succeed. Incentive Statistics Don’t Lie!

Strategically planned Recognition or Incentive Programs help companies recognize and reward their people for their contributions towards advancing business objectives – both as a team and as individuals.

With this trend of rewarding employees with non-monetary rewards, the number for 2017 will surely climb. These statistics from 2016 was a year of many numbers, changes, innovations, and upsets. Every year has their fair share, but employee incentive plans had some rather successful innovation in 2016 and will continue to move higher in the coming years.

Build a positive company culture: Companies that executed a formal, well planned-out employee engagement program reported a 64% greater increase in the level of employee engagement than those without one.

Engagement Tools: 35% of Best-in-Class businesses plan to implement new employee engagement tools in the coming year, compared to only 27.1% of All Others.

Meeting Expectations: In 2016, almost eighty percent (78.7%) of incentive programs met the proper expectations.

Exceeding Expectations: Also in 2015, 12.8% of incentive programs successfully exceeded expectations.

People Don’t Always Want The Benjamins: As it turns out, cash is not always the incentive reward of choice among employees. The IMA (Incentive Marketing Association) did a study which found 65% of employees preferred non-cash incentives.

Incentive Travel: Incentive travel is used by 46% of United States’ businesses. While this travel is usually a consequence of some consumer rewards program, the same kind of incentives can be applied in the workplace. The incentives of the traveling agencies in question can be put toward employee vacations in order to diminish the cost of providing incentives through direct monetary award via company funds.

Incentive Engagement On The Increase: According to a recent Gallup poll, employees actively engaged with employers via incentive programs of some variety are up .5% since 2015 to 32%.

The Cost of Turnover: Every year, according to the most recent figures, roughly $11 billion is lost due to employee turnover. Incentives are a great means of curbing this loss.

Incentives Give Millennial Employees Reason to Stay: Millennials are at an age where they’re finding what career will define them going forward. As a result, most view their current occupation as transitory. In fact, 44% of millennials actively seek to pursue additional career opportunities over the next two years. Incentive programs can help reduce that statistic.

Most Popular Incentive Programs Among Employees: Over 65% of surveyed participants strongly agree that travel incentives/rewards are remembered longer than cash payments. Employees like their incentive programs, and having a system in place is a proven way to ensure increased retention in 2017/2018.

Now is the time of year where businesses are making plans for 2018; shouldn’t an incentive program be a part of that plan??

ABOUT TRASFORMATIVA TRAVEL

Trasformativa is a US based travel company with offices located in Durham, NC and Clarksville, VA. We are focused exclusively on transformational travel. Our experienced and qualified travel agents offer many different types of transformational travel opportunities. We work with individuals and groups of many sizes to help them find a true difference. Most of the people who contact us are luxury travelers and leaders of groups who are traveling together. This includes, yoga or fitness instructors, health and wellness professionals, human resource directors, sales managers, CEO’s, church group leaders, corporate trainers, personal chefs, wedding planners, brides, corporate travel professionals, and also individuals looking to plan an exciting and out-of-the-way trip for a group of their friends.

Our transformational opportunities include Exotic Group Travel, Jamaica Travel, Caribbean Travel, Europe Travel, Retreat Group Travel, Culinary & Vineyard Group Travel, Wellness Travel Retreats, Incentive Travel Reward Programs, Destination Training Events, Corporate Wellness Retreats, Team Building Retreats, Fitness Retreats, Yoga & Meditation Retreats, Juice & Cleanse Retreats, Spirituality Retreats, and Autism Travel,