logo
#

Latest news with #TracyNorum

Group vs. Individual Incentive Trips: Companies Weigh the Pros and Cons
Group vs. Individual Incentive Trips: Companies Weigh the Pros and Cons

Skift

time22-05-2025

  • Business
  • Skift

Group vs. Individual Incentive Trips: Companies Weigh the Pros and Cons

Though many attendees prefer individual incentives, some companies don't want to let go of the level of control they have with group trips. The vast majority of employees like the idea of an individual Incentive trip they can take on their own time to wherever they choose. Their companies often don't feel the same. Companies may be reluctant to switch from group travel experiences to individual incentives, said Tracy Norum, senior director of incentives & engagement at Meetings & Incentives Worldwide (M&IW). 'Some companies don't want to let go of the level of control they have with group incentives.' In the Incentive Research Foundation (IRF)'s Attendee Preferences for Incentive Travel report, 94% of respondents described individual travel as 'very' or extremely' motivating. The report found that the appeal of these trips was consistent across generations. Individual trips have many positives: Winners can decide when they want to travel. The experience feels more like a vacation because they're not networking with colleagues and talking shop. While group incentives usually allow winners to bring just one guest, individual incentives allow them to travel with their families. Norum has found that this type of travel appeals to a certain age group. 'Our experience shows that Gen X is the top demographic. They've spent most of their careers with group incentive trips as the only option, so it makes sense that a highly personalized, exclusive reward would also be motivating. 'Individual incentives can be more inclusive with the possibility of family trips,' she said. 'Many of our customers who offer pre-planned packages include a Disney experience or an adventure trip for a family of four.' Companies can include special touches — 'fun in the sun' gifts for Caribbean trips, warm outerwear for colder destinations, or wildlife photography gear and safari essentials for trips to Africa. The organizer books all travel and experiences, and serves as the main contact throughout the trip. At the highest level, individual incentives can come with their own concierge and include luxury experiences based on attendees' preferences. For example, M&IW curated packages for a client in the food service industry that included experiences like a one-on-one wine tasting with a master sommelier, cooking a meal with a chef in his restaurant, and meeting the chef and receiving a signed cookbook after dining at a Michelin-starred restaurant. Not for Everyone Despite the appeal for individuals, companies prefer group travel, according to Andy Schwarz, vice president, content and communications, at the IRF. 'Individual travel was very popular and received a lot of attention coming out of the pandemic,' he said. 'There's more of a focus on group travel now.' Min Choi, executive vice president and chief marketing officer at Germain Insurance, said his company's organized trip has proven to be more effective than individual trips. Approximately 50% of the attendees are repeat winners, and the trips also allow them to create new relationships, and even friendships. 'These group excursions offer a higher return on investment, enable us to acknowledge our top performers more effectively, and foster shared experiences that strengthen bonds,' he said. Group trips also allow companies to create experiences that would be challenging for attendees to replicate on their own. 'While one can golf at most courses, an individual traveler would not typically have the opportunity to enjoy dinner on the 16th hole overlooking the ocean,' he said. Attendees do not have to pay for anything, even gratuities, so they can just enjoy the experience. There's no need to worry about safety concerns or fear of becoming lost in an unknown destination. 'These trips provide attendees with an excellent opportunity to explore new locations. They can feel assured knowing that they are part of a group and that our travel staff has arranged everything.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store