Incentive Travel Inspires a Team to Meet Objectives

Incentive travel is one of the most effective ways to encourage the completion of set objectives. Offering individuals the opportunity to see locations throughout the world fulfills a desire no other type of inspirational tool can match up to. A long desired trip to Paris or another region provides each person with a tangible item they want to work toward. This motivational factor is what makes travel packages a highly successful organizational tool. This type of incentive has been proven tactic when desiring to advance business profits, create a positive work environment, improve productivity, and retain employees. An organization can target a particular group such as the development personnel or sales team to boost an individualized business area. Regardless of the target group, incentives in the form of dreamed about vacations offer the enticement a team needs to get the ball rolling and keep it going.

Cover the Important Details Before Initiating Motivational Travel Programs?

Motivational travel programs are only as prosperous as the planning put into them. A business must properly identify award requirements and line out funding before this type of plan is put into motion. These goals are common among organizations:

Heightened Sales

Attendance Improvements

General Morale Boost

Employee Retention

Customer Retention

Team Building

Productivity Increases

Countless objectives can be the purpose behind setting up a travel related incentive package. Some companies create levels where each one consists of a certain amount of performance. As individuals work harder, they are able to advance to the next level with the final one being the opportunity for a well-deserved vacation. Objectives must be set according to the group being targeted. An organization should focus on creating goals that are not overly easy to achieve, but are reachable by those who increase their effort. This will allow those who strive to excel an opportunity without receiving on the bare minimum.

Funding is the next hurdle when wanting to create a solid method for motivating a group. Organizations must spend an extensive amount of time setting up accommodations, flights, itineraries, and additional aspects of the awarded trip. These items must be estimated into the cost based on the number of possible winners among additional factors. A professional service is a good option to have available for obtaining better pricing. This is because they have inside contacts and experience that can be used to the advantage of the company. Motivational travel programs are tailored to the nature of a business and the goals being achieved.

Employee performance tracking is the final key factor for making these programs a complete success. A format must be created for measuring individual achievements, behaviors, and meeting set objectives. Employees should be kept aware of everyone’s current standing with the use of progress posters, meetings, and additional reward oriented efforts. Companies can continue motivating individuals by holding small events such as snack tables themed around the destination to manage continued enthusiasm. Planning creates a solid path toward achievement and how the program is executed determines received results. An organization must choose an enticing location, plan out objectives appropriately, and manage continued progress effectively for incentive travel to generate the right results.

Due Diligence Travel Agency Acquisition Process

The due diligence review (DDR) is a critical part of the travel agency acquisition process.

There are five key objectives:

1. Identify deal-breakers, which, if unresolved could preclude pursuing the transaction any further:

• Company personnel engaged with conflicting, outside interests

• Financial commitments – employment contracts, leases from previous acquisitions, liens, etc.

• Legal/Regulatory issues- lawsuits, client complaints

– Quality of work

– Questionable accounting

– Questionable expenditures

2. Verify representations received from the seller, such as key assumptions made about employees, compensation, systems, key statistics.

3. Obtain a more detailed understanding of the business:

• Types of clients

• Business mix

• Sources of revenue

4. Obtain information vital to negotiating the transaction:

• Salary and benefit information for employees

• Inventory of furniture and equipment

• Inventory of computer systems and software

5. Identify potential transition issue or areas of focus:

• Compensation and benefit issues

• Technical and workflow process issues

• Other

The DDR is designed to assist the Due Diligence Manager (DDM) in efficiently planning, executing, and reviewing the planned transaction. Following a standardized DDR is critical to the successful completion of the review and will ensure that:

• A consistent approach is used by all due diligence team (DDT),

• A standard output (format) is created for each DDR, and

• The duplication of information gathered or requested of the owners is eliminated.

The DDM is responsible for the overall planning and final review of all work and the development of the final report.

PHASE I: Meeting/conference call with Deal Owner, Acquisition Manager and DDM

Goals:

• Communicate overall vision and strategy of the DDR.

• Share information that has already been obtained to eliminate the duplication of data- gathering efforts.

• Identify DDT members.

Reporting: Recap the discussion/decisions and provide a copy to each party.

PHASE II: Meeting/conference call with Acquisition Leader, DDM and DDT Members

Goals:

• Share new information.

• Review the need for confidentiality with acquired firm contacts and external sources (i.e., media).

PHRASE III: Meeting with DDM and Firm Owner and/or Main Contact

Goals:

• Review the DDR.

• Provide the list of items that the firm will need to produce.

Reporting: The DDM will complete the recap of each call.

PHRASE IV: Data gathering process begins with the DDM, Team Members, and Firm Owner & Contacts

Goals:

• Complete the due diligence data gathering (DDM, Firm owner/firm department contact).

• Complete the “Summary Report” memo (support team member).

PHRASE V: The DDM completes the Final Report and provides it to the Deal Owner and Acquisition Leader.

Impact of Mobile Apps in Transforming the Travel Industry

Businesses of this mobile-driven world are making great efforts to make use of the great scope of boosting their ROI by having a mobile app. Ranging from fashion, entertainment, textiles to travel and tourism, almost every industry is making their business mobile-centric while considering the rapidly increasing mobile audience. Over the years, the travel and tourism industry experienced a steady growth by incorporating the use of mobile apps and reached wider section of people.

Prominence of Mobile Apps in the Travel and Tourism Industry

The world has come into the fingertips of mobile users these days and getting any sort of real-time information has become almost everyone’s cup of tea. Apps have become the preferable mode for people when it comes to the task of flight booking, hotel room booking or any other activity related to their trip.

Automation

With the instant availability of all sort of relevant information, users can get any kind of details they want without having to consult any representative and make a steady move. While considering the business perspective, automating all vital sorts of operations including invoicing, information, booking and billing ultimately result in saving money and time.

Customised services

Apps act as the best source for businesses to connect with their customers. The travel companies have come up with personalised services for their customers to meet their exact needs in terms of accommodation, car parking, airline booking and much more. To offer customised services, it is important to know what your customers are actually looking for. It is important for you to know what are the requirements of a traveller while planning a trip and then offer the exact set of features as per his choice.

Exciting Offers and Deals

With apps, it has become easier for travellers to quench their deep-down thirst of wanderlust. Keeping this in mind, the travel companies have come up with exciting deal packages and exclusive offers for attractive more number of customers to intensify their travelling experience.

Facilitating Strong Connectivity

Mobile apps play a vital role in bridging the gap between the travel companies and travellers. They host a range of features which, facilitate seamless communication between them and deliver a best-in-class experience. Different activities like searching, planning, choosing the package and booking, everything gets done under a single platform. Thus, it results in eliminating the hassles involved in the process.

Final Word

Every business is trying to make their business mobile-driven to reach out to this ever-growing audience base. Thus, investing in powerful mobile app development practices has become crucial for the companies to make sure about its proper penetration and ROI generation.