Incentive travel and employee benefits have an excellent ROI.


Do employee benefit programs make a difference?

According to Wikipedia  employee benefit programs yield a return of investment of more than 4 dollars to every one dollar spent.”

In return for offering benefits corporations yield the benefits from motivated employee such as:

  • Employees who are more dedicated to their jobs.
  • Employees are more productive and work harder to obtain incentives.
  • Less sick days are reported and this saves companies thousands of dollars over a year period.
  • Employees have a better skill set because they have better training programs.
  • Group dynamics and leadership skills are used more often and formulate good employee relations.

What can employee benefits program do for your company?

First and foremost, the ROI for implementing group benefits is incentive alone.  Secondly, employee benefit programs are fun and help to improve employee health and well being.

There are many different categories of benefits such as:

Financial benefits: Financial benefits include things like pay raises, retirement packages, commissions, bonuses and sales incentives.  The amounts applied vary by program.  As an example;  a company may implement a simple sales incentive plan that says something like,  “for every employee who sells over a hundred items, that employee will receive 50 dollars, a spa certificate or even a free vacation.” The main reason for these benefits is to improve sales and production.

Health benefits:  Health benefits usually include things like, quit smoking incentives, allowable sick days,  health insurance and paid health programs like gym and spa memberships.  These programs focus primarily on improving the health of the employee in an effort to eliminate payment of things like sick leave, accident insurance and loss of work days due to excessive illness.  It is a proven fact that healthier employees in both body and mind tend to take less advantage of time off.

Training benefits: Training is somewhat self explanatory.  Training incentives foster group and leadership skills and  increase productivity.  Better trained employees make less errors and the benefit to this is obvious.

Recent years have seen the increase in a specific training program known as incentive travel.  The idea is simple;  companies take employees out of the office and bring them to a relaxing vacation spot.

The employees or select group of employees receive training while vacationing at the same time. The training is given to every employee at the same time thus eliminating scheduling issues.  Moreover, the training is focused and will be retained easily because the employees are relaxed and feeling positive.

This type of training helps to foster employee contributions in the trainings and discussions. Group bonding will gradually take place and the company will benefit in a number of ways. including; better employee communication, less stressed employees and company pride.   Not to mention, what employee does not want a free trip!

Whatever employee benefit package you choose, your employees will no doubt be grateful.  In return they will become dedicated to their jobs, they will be happier and you will most likely have less employee turnover.

It seems that people are more interested in accepting positions based on employee benefits and salaries combined more so than ever before.  Job security and peace of mind when it comes to health and well being is what seems to be the motivating factor.  Companies who do not offer a great benefits package along with salary may just get lost in the crowd.

Hire a human resources expert like SG Partners Inc. to help you implement your employee benefit program today!