Last week, we discussed companies and executives who were splurging on luxury corporate events and foreign incentive travel while corporate performance had declined. Since then, the global economy has blown up again. No matter how tough things get, some companies are still doing well.
During the 2008 - 2009 recession, some companies with strong bottom lines cut all team events to avoid negative publicity. This was short-sighted. Reduced spending hurt the economy and delayed recovery.
When employees work hard and companies perform well, it is reasonable to take a percentage of earnings to express appreciation. Also, this is a good time for companies to plan client appreciation events for top tier clients who have stood by them in tough times. Here are a few ideas:
- Take employees or clients to a local restaurant.
- If there still isn't enough in the budget for foreign incentive travel, companies can reward top performers at 5 Star hotels in their state or province.
- Give gift certificates for local theaters, spas, retailers and hotels.
- Book some business meetings at small inns, resorts and meeting venues. (Small event venues have a harder time staying afloat in a slow economy.)
What are some other examples of sales incentives to boost the local economy?
Photo Credit: fang0915