The Benefits of Giving Non-Cash Rewards to Your Employees

 
The Benefits of Giving Non-Cash Rewards to Your Employees

The Importance of Non-Cash Rewards

The competition of retaining employees is becoming more and more challenging. According to Forbes, “millennials were three times more likely than non-millennials to change jobs in the last year, and 91% don’t expect to stay with their current organizations longer than three years.”

While here are many uncontrollable factors in team member retention, one key element that is proven to provide increased satisfaction and loyalty is the decision to incentivize using non-cash rewards such as merchandise, experiences and/or travel.


The Benefits of Giving Non-Cash Rewards

Every business has an inherent goal of differentiating itself from the market competition. Yes, the product is a huge part of making a business unique and desirable, but as an employer, it’s just as important to give your employees something of value beyond the dollar sign.

As more and more employees come to expect a bonus, cash becomes views as part of someone's salary rather than a rewards. By giving your employees something other than cash, you are:

  • Creating memorable experiences for your valued employees while creating positive brand association
  • Inaugurating a tradition within your workplace, that all employees can work towards
  • Allowing your business representatives to boost moral and come back
  • Increasing employee satisfaction and retention at your company
  • Giving something money cannot: time, memories and trophy value


The Benefits of Receiving Non-Cash Rewards

As an employee, they almost always have a goal in mind to keep grinding. Sometimes cash may be the single-most important factor in your productivity at work, but often times, it's easy to become burnt-out by constantly chasing money.

Some of the proven ways non-cash rewards can benefit an employee are, they:

  • Allow a reward or experience associated with your company
  • Give a goal that makes them feel valued beyond the regularly-scheduled paycheck
  • Boost moral and overall satisfaction in their current position

See how GALACTIC PERFORMANCE SOLUTIONS can help achieve your business objectives.

Solutions@GalacticPS.com

(817) 462-0400


 

  Zambia: A Bucket-List Destination for Group Incentives

 

Zambia: A Bucket-List Destination for Group Incentives

A few months ago, I was fortunate to fulfill a lifetime goal of experiencing an African safari. Being employed in the incentive industry for more than 13 years, has offered me many opportunities to see and experience the world. I believe there are few destinations more sensational than Africa with the marketing power to excite your top sales executives or top customers.

Zambia, Africa

I found the areas in and around Livingstone, Zambia to be incredibly friendly and very safe. Named after Dr. David Livingstone, the British explorer and missionary, Livingstone, Zambia is the center of the largest waterfall in the world, Victoria Falls. The five-star hotels and lodges serve as home base for exploration and adventure. Excellent infrastructure and professional operators offer great activities and event options for incentive groups. Group options include safaris in the National Parks, boat cruises (including animal sittings) on the Zambezi River, guided walking with lions or cheetahs, elephant safaris, zip-lining, bungee jumping, hiking, biking, kayaking, canoeing and exploring Victoria Falls via a walking trail, helicopter or microlight aircraft. There are activities abound that will keep your participants busy checking goals off their bucket lists.

Some of my favorite events and activities for a Livingstone Group Incentive:

  • Full-day Game Drive and River Safari into Chobe National Park in Botswana. The Morning Game Drive is followed by lunch at one of several Lodges in the Park. Then the River Safari completes the afternoon.
  • Sundowner (Sunset Reception) Cruise on the Zambezi River. Depending on group size, boats can dock at one of the many fabulous restaurants along the river for a private dinner. Several quality boats are available to accommodate a range of group sizes.
  • Elegant Dinner onboard the Royal Livingstone Express luxury train. The Royal Livingstone Express will stop across a bridge for a beautiful sunset view of the Falls. The Royal Livingstone Hotel caters the luxurious experience.
  • Swimming in Devils Pool at Victoria Falls. Boats leave from the Royal Livingstone dock for the two-minute boat ride to Devils Pool.
  • Guided walking encounters with lions, cheetahs or elephants. My most memorable experience was a morning cheetah walk.
  • Walking tour of Victoria Falls, including a ten minute walk from the Royal Livingston Hotel. There are no costs to enter the park because the hotel is located inside the national park zone. Visit Mukuni Cultural Village.


WHERE TO STAY IN ZAMBIA

For smaller groups, the area features several five-star lodges and boutique hotels. For larger groups I really like The Royal Livingstone Victoria Falls Hotel. It is one of the most luxurious hotels in the area. The Royal Livingstone is a 173-room group-friendly resort perfectly situated on the banks of the Zambezi River with walking trails leading to Victoria Falls. During my recent stay, the service was warm, friendly and efficient. The three F&B outlets include an all-day dining room, a bar, and the Sundowner Deck, which is a very popular bar to enjoy the afternoon sunset while listening to and watching the hippos in the Zambezi River. Located inside gated grounds with free roaming wildlife, your participants will be dodging giraffes and zebras on the walk between their guestrooms and restaurants. Indoor event space is limited. The outdoor space is wonderful including the hotel’s outdoor BOMA event space, sundowner deck, bar, and lawn, which are all great for events.


WHEN TO TRAVEL TO ZAMBIA

Zambia enjoys mild weather year-round with temperatures ranging from the mid-90’s in the hot, dry months of September and October, to mid-70’s May through August. November through April are the rainy season and probably should be avoided. The best time to see Victoria Falls at its most magnificent would be late April through August. By late September, the water over the falls is reduced significantly.


LET'S TALK ABOUT SAFETY

While there are many areas of Africa that remain unsafe, Zambia has long been considered a safe country for tourists and enjoys the highest security rating from the US Department of State – Level 1. There are no special VISA requirements for US citizens to visit the area; however, if you plan to visit Zimbabwe or Botswana to experience safaris in the National Parks, which I highly recommend, a special multi-country KAZA Visa is necessary. The KAZA Visa is available to purchase for $50 USD upon arrival at the Livingstone Airport or can be pre-arranged for the group by your ground operator. The KAZA Visa is valid for extended stays in Zambia and Zimbabwe while also allowing day trips to Botswana. Although no special vaccinations are required to enter Zambia when arriving from the US, your doctor may recommend Malaria tablets as a preventative to be taken daily during your stay and 10 days after your return home.

You’ll need a minimum of 3 nights to get the full experience of a Safari plus an event. My recommendation for a group would be a five-night stay in Livingstone. Or for the complete African experience, combine three nights in Livingstone with three nights in a modern city like Cape Town. Regardless, Africa is an amazing destination for any incentive group.

Call or email us for more information or to request a proposal for your group.

Solutions@GalacticPS.com

(817) 462-0400


 

  Bring your Meetings to Life with Colored Lights

 

Many companies see the value of investing in accent lighting that features company colors to help reinforce their brands at meetings and conferences, but they neglect to consider the value of using all kinds of colors to enhance every aspect of their event.

Lighting is in an inexpensive solution that can give your meetings extra punch, help keep your attendees engaged and set the right mood for every aspect of your function. Programmable LED fixtures make changing area lighting even easier and less expense than before.

 

Conference spaces that benefit from colored lights:

·         Pre-function space

·         Entrances and exits

·         General sessions

·         Break-out rooms

·         Meal rooms

·         Outdoor space

·         Exhibit floors and booths

 

Examples of Lighting Objectives:

·         Create a soothing, inviting, environment to welcome guests

·         Energize attendees after breaks by changing the color of your general session

·         Keep participants engaged by changing stage lighting in between speaker transitions

·         Set the mood with ambient lighting at dinner, evening, and outdoor functions

·         Drive traffic at trade show booths

 

 

 

The psychological impact of color is a very powerful tool. For example, red can help invigorate your participants and help them retain meeting content. Check out our color chart to learn more about which colors invoke what effects. The impact color lighting can have on your meeting is only limited by your imagination, which can be stimulated with green!

 

  Incentive Travel: The Gateway to Increased Sales and Performance

 
Incentive Travel: The Gateway to Increased Sales and Performance 

According to the Incentive Research Foundation, incentive travel and experiences are desired more so than cash rewards - 86% to 14% respectively.

What is Incentive Travel?

The Incentive Research Foundation (IRF) defines incentive travel programs as “A motivational tool to enhance productivity or achieve business objectives in which participants earn a reward based on a specific level of achievement set forth by management. The program is designed to recognize earners for their achievements." Participants can be identified as customers, dealers, employees, distributors, vendors or any group in which you are looking to enhance behaviors.

What's the Benefit?

The focus of incentive travel should be aligned with your business objectives, whether that’s gaining new customers, selling more of specific items or services, or bringing additional revenue from existing clients. A properly designed and executed incentive program will show a greater return on investment and identify a goal to work towards with friendly competition amongst participants.

One of the benefits of incentive travel is that it is customized to fit your company’s individual needs, and can evolve as goals progress. Depending on your objectives, there are several different routes to maximum ROI. The focus can be short term, long term, or both used concurrently. Short term incentives are ideal when you are looking to produce results today, while long term incentives invest in tomorrow.

Another aspect is the audience: the top 20%, middle 60% and bottom 20%. While the top 20% drive business, less than 30% of growth comes from this group as they are close to capacity. They are self-motivated, high achievers but need to be challenged and rewarded regularly. The middle 60% is mostly ignored in incentive programs, but movement from this group provides the biggest impact. A 5% increase in sales from the middle 60% yields 70% more return than a 5% increase in the top 20%. Lastly, the bottom 20% need more coaching and encouragement. They typically consist of those working their way up or working their way out. Achievable, milestone goals and recognition will help push these employees into the middle 60%.


The Participant's Desire For Experiences

According to NBCNews, "traveling is not only fun and exciting, there's ample research to suggest it's highly beneficial for your physical, mental and emotional health as well”

Travel and the desire for experience can positively impact a person for a lifetime. Some of the ways an incentive trip can benefit your employee or customers are:

1. Traveling can help create meaningful relationships with loved ones and colleagues.

2. Traveling helps a person learn and appreciate a world outside of their own by giving them new perspectives.

3. Traveling can help someone learn more about themselves by challenging what they thought they knew about themselves or the world.

4. Traveling can help develop new skills they didn't know they had by challenging them to get out of their comfort zone.

5. Traveling can help refocus and relieve stress.


Entering a New Era of Satisfaction

The Society for Incentive Travel Excellence (SITE), found that almost 90% of respondents believe that “the power of incentive travel made them feel appreciated”

By offering incentive travel, you're not only establishing a positive relationship, but naturally increasing company loyalty.

Rewarding incentive travel can symbiotically benefit both parties by:

  • Will remember that YOU gave them a trip to "Destination X" for the rest of their lives
  • Your participants' happiness with their job can increase upon return leading to higher productivity and motivation to succeed
  • Creating buzz in your participants' conversations with friends & family as they're sure to credit your company with the opportunity
  • Increase competitive advantage over other brands


 

  The Proven Return on Investment of Outsourcing a Corporate Meeting Planner

 

Click here to download our whitepaper:

In the beginning stages of delegating or being delegated the task to plan and execute a corporate meeting or event, often times the challenge to organize and operate a quality product for the attendees can become exponentially overwhelming.

The Proven Return on Investment of Outsourcing a Corporate Meeting and Event Planner

We at Galactic Performance Solutions understand the hardships and assist in alleviating them. Below you can read about some of the proven ways a team of Certified Meeting Professionals can be well worth your return on investment with a higher standard in mind and years of proven results.


Improving On-Site Potential

   Tap into exclusive deals and relationships from a professional.

The saying "It's not what you know, but who you know" truly shines in the category of venue sourcing. The value of a long-term business relationship cannot be understated.

In an established partnership between client and location, there are many opportunities that an outsourced event planning team can provide including:

  • Exclusive Hotel and Venue Pricing with hundreds of global partners obtained from years of previously successful programs
  • Premium Audio/Video Support tailored exclusively to the needs of your meeting or event
  • On-Site Staffing which allows your staff to tend to their normal job duties
  • Hospitality Suites & Desks that will maximize attendee satisfaction while minimizing risk


Increasing Quality Control

The fine-tuned details are some of the most important assets to raising the standard for a great meeting or event.

It's no small task to put on a great meeting or event, especially for a small team of people who have many more responsibilities in their normal job duties. By splitting the time of in-house employees, the final product may not be what you hoped for when they aren't investing all of their effort towards the event.

By not hiring an outside meeting planner, you may be missing out on high-quality features including, but not limited to:

  • Custom Meeting Website Services to keep your company and the attendees mutually up to date on the meeting or event details
  • Proprietary Online Registration which will track RSVPs and allow you save money by not overestimating on your budget
  • Data Tracking & Consultation that will increase ROI year-over-year by giving you real information to allow continual improvement
  • Automated Confirmations and Reminders to keep the meeting running smoothly and everyone informed in a seamless, modern way


Achieving Your Goals

Understanding what works best for successfully achieving your meeting goals comes with expert experience.

With years of experience working with clients who seek unique, specific goals, Galactic can help you drive success with our deep knowledge of best practices tailored to maximize your ROI.

The options are endless for making your meeting a unique experience that creatively helps you see a return on investment. Some of those are listed here:

  • Dynamic Individual Agendas tailored to meet the needs of your distinct expectations
  • Marketing & Communication Strategies that will add value to your company image and promotional goals
  • Certified Meeting Planners trained to give you their entire time, effort and knowledge to achieve your goals

Click here to see how Galactic can increase your ROI with meetings and events.

 

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800-595-9187
Email:
Solutions@GalacticPS.com
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