The Meetings – Incentives Merger
Multiple studies point to one conclusion: the distinction between meetings and incentives continues to blur. The C-level has a growing expectation that incentive trips incorporate time for business content. According to the 2012 annual Corporate Meetings & Incentives/Incentive Research Foundation survey, the average incentive travel program participant now spends more than a quarter of his or her event experience in business meetings. Additionally, more than a quarter of planners now run programs where about 40 percent of the event is dedicated to business meetings.
At Key Events, we’ve seen this expected trend for US corporations where compliance and tax regulations are particular concerns. However, we have also seen an increase for international groups as well. It seems gathering top performers together is too good of an opportunity to waste when it comes to taking advantage of moments for collaboration.
As a member of the Hosts Global Alliance, Key Events has on the ground experts in most major destinations across the globe, which we leverage for our incentive customers. According to HGA customer Lucy Eisele, CITE of Integrity Incentives, “Back in the day…when searching for a destination/hotel for that perfect program, meetings were somewhat “the norm” when it came to incentive programs. One would have to be clear that “this is a pure incentive”, meaning there were no meetings planned for the program. The trend I’m seeing lately is the combining of the two, most likely due to perception and economics.” She adds, “it would sure be nice to hear those words “pure incentive” again!”
Overall, the goal for planners is to build Meeting Incentive programs that adapt to changes in each industry due to regulations, financial environment, needs of the company, and other variables. Key Events brings our expertise of working on demand to make sure company goals are acknowledged and achieved during all stages. This takes a delicate combination of experience and foresight to make these programs work in terms of functionality, while not sacrificing the overall “incentive” experience for employees.