Discussion Paper About Corporate Travel Incentive Program - 1100 Words

Discussion Paper About Corporate Travel Incentive Program (Essay Sample) Content: Corporate Travel Incentive ProgramNameInstitutionIt is a general belief that the ability to inspire people to succeed is a powerful tool, and as such corporate incentive travel programs should be heart inspired and passion executed to create thought-provoking and memorable experiences (Sheldon, 1994). Our company has been facing intense competition with an industry wide slump of approximately 20%, as such; its a challenge to all employees to turn the situation around in the next fiscal year. With each division of the company being assigned goals to accomplish in order to produce a desired result, a multi-tiered incentive program is to be set that include benchmarks, both internal and external, to measure the effectiveness of the program. The program christened Shark Encounter in Hawaii  would be an all-expense paid trip on a cruise in private veranda staterooms for the employees and a companion. The aim of this travel is to reinforce the value of the incentive tra vel reward and create a bonding opportunity for the employees through Corporate Social responsibility (CSR) activity for both the local Hawaiian community and the wider oceanic ecosystem.This program generally has five set goals, helping the local communities to sustain themselves through jobs and services, giving the participants an opportunity to become citizen scientists, that is, learning and contributing to scientific research while having fun, saving the declining shark population, tying the efforts of research to the conservation policies of the ocean and finally strengthening employee engagement. In highlights, we are to work with the local Marine Conservation Program to turn participants into researchers for a day, collect data alongside experts that will be useful in preventing the global decline in shark populations. The attendees will catch and tag a shark, release it back to the ocean for migratory and residency patterns study purposes ("Sharks: conservation, governance and management", 2015). To share their experience, a dedicated client website with Google Earth Technology is to be set up for the attendees to continue tracking the tagged sharks. Data gained from the research is to help lawmakers set conservation policies and most important this program is to enable employees to face their fears, given the menacing reputation of the sharks, and translate it to real world challenges ("INCENTIVE TRAVEL Incentive Travel: An Attractive Option. Kimberly J. Shinew and Sheila J. Backman. Tourism Management, vol. 16, no. 4, June 1995, pp. 285-93. Elsevier Science, 660 White Plains Road, Tarrytown, NY 10591-5153. $425 annual subscription", 1995).Program design structureIncentive goalThe goal of this incentive is to increase sales of extended service plans by %15 over the previous year in the second and third quarters of this year.ParticipantsThis incentive program is designed to appeal to a large cross-section of the company and award approximately 10% of the employees. The selection of the participants is spread across the company. The program is not limited to employees whose input is directly linked to net operating income but also those who support income-generating employees.CommunicationsThe company is to produce a humorous video including the C.E.O and other top management to kick off the years incentive travel program. This is meant to build excitement and anticipation. Communication will also be done through the corporate website that provides criteria for all employees categories as well as monthly cumulative rankings. Emails are also to be sent to the employees throughout the year on important updates.Earning criteria and allocationEmployees will earn a spot by; meeting or exceeding set annual targets, achieving outstanding financial performance, taking business from competitors, providing superior customer services, going out of their way to achieve team success, and contributing beyond the norm (Severt, 2012). Overall q ualifying criteria for all employees include: have a full-time position, be in compliance with company policies and practices in all areas of responsibility, attainment of participant numbers may be decreased or increased according to the attainment of business unit profit plan, and business leaders must have positive GP, results in the current year regardless of performance in other objectives. Rewards and awards include all participants having a chance to win a $20,000 paid personalized dream vacation anywhere in the world with the six finalists receiving $3,000 each.BudgetThe total budget of the incentive is estimated to cost approximately $4,000 per participant with the following items included in the budget: accommodations, productions, web services, marketing, prizes and awards, ground transportation, hospitality staff, food and beverages, team building, dcor, gratuities and site inspection services.Tax savvyA 1099 form is to be issued to employees and non-incorporated custome rs for travel awards with a fair market value of more than $600. The cost of the travel award is deductible by the employer as compensation paid (Sheldon, 1994).Sample itinerarySunday 10am- 7:00pm Arrivals 12:00pm- 5:00pm Rehearsals and video tapping of top performers 5:30pm Meeting with the planners 6:00pm First timers orientation 6:30pm Welcome reception for everyone on the cruise 9: 00pm Departure to Hawaii Monday 7:30 am Hospitality desk 8:00am