Employee travel rewards are common and have been since the days of service crystals and 5- year pins. But the way they are being applied in today’s employee reward environment is changing and evolving. Here are three ways employee travel rewards are changing and can be used to maximize effectiveness.
As the economy continues to improve, I for one am thinking about how and where to vacation this summer. On a personal level, I know I will grab up deals with extra gift card dollars wherever I can find them. And with professional interest, Harris Interactive’s recent survey (on behalf of Choice Hotels) seems like really great timing for the loyalty rewards market. The survey reports that out of the 2,100 U.S adults that were surveyed, over 87% of Americans plan to travel for leisure this summer, and they report that if they had an extra $50 to spend on their vacation, they'd be most likely to spend it on:
In this slow recovering economy, trends in the incentive industry are leaning towards caution and scaled back rewards programs. Safety rewards, which used to garner large incentive travel programs, or other large rewards, are now are being scaled back to much smaller incentive rewards programs. According to the latest Incentive Research Foundation survey, incentive rewards program administrators' confidence levels are down to lows not seen since 2008. The survey indicated the following specifically about travel rewards programs:
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