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The Future of Incentives

The recent trend of cutting staff motivational events in Europe could well hit companies’ bottom lines when they least need it, says Eventia’s chief executive, who cites Asia Pacific’s healthy incentives sector as the star to follow.

It’s fair to say that most economists believe that the worst is over. We have hit rock bottom and we are now on the steady climb up to a healthy economy again. But it will be a slow recovery, and the business world will never be the same again.

Like most of the marketing and event industries, the world wide incentive market has been affected too – with 76% of the global incentive industry stating that companies are using fewer incentives than in the past (Site Index report). But why should this be a natural reaction? Why do companies think that pulling incentive and motivation programmes at such a crucial time is a good idea?
An engaged and motivated workforce is a key component in any successful business.

The McLeod Review of Employee Engagement states that the relationship between employees and employers should be at the centre of a successful business plan. Businesses should be grasping the opportunity to communicate with, incentivise and motivate their staff, because, if planned and executed correctly, it really does add directly to the bottom line of a business.

This opinion piece is featured on Meetings Review, to review the full article click here.