Cash incentive/bonus plans are not as effective during recessions. The cash typically gets used to pay down bills or to make a purchase that’s needed.
If you want to provide an incentive to your employees and help the industry give trips as incentive. The trips can be to another of your hotels or resorts, or work a trade-out with a competitor. Most trips offered as incentives in our industry don’t directly impact rooms revenue, but they do impact F&B revenue and spending on recreational activities.
Most importantly, trips that include loved ones benefit employers both from the recognition of the loved ones, and for the trip itself.
Negotiated properly, trips as incentives can cost a company far less than cash incentives.
Offer more trips to recognize more employees more often. A weekend get-away is a great incentive.
Get creative on your incentives. Recognize your employees and expand travel as well.
What is your company offering as incentives?
