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Consulting, Speaking & Training
Travel Agency Consortia, Franchises & Agency Organizations
EMPLOYEE INCENTIVES & COMPENSATION
CARROTS & STICKS: DESIGNING EMPLOYEE RECOGNITION, INCENTIVE, & COMPENSATION PROGRAMS (owners and managers)
In any business, maximization of revenue in relation to the most significant cost or investment category is a necessary (although not always sufficient) condition in the quest to maximize profitability. Given that the most significant operating cost in the travel agency business is employee compensation, the ratio of agency income to the cost of employee compensation is the single most important factor in determining whether an agency has a bottom line with a plus in front of it or brackets around it.
There is little question that well trained and motivated agency employees can make a dramatic impact on the ratio of employee compensation to agency income and expenses and, as a direct result, on agency profitability. While the hiring of self-motivated employees may be an admirable goal, even self-motivated employees may be able to do more with a tangible incentive system. Attendees will learn:
- the pro's and con's of alternative performance and recognition based compensation systems.
- how to design a employee compensation and incentive systems for your agency employees and management style that helps to attract and retain quality staff.
- how to avoid recognition, incentive and compensation program design disasters.
- the do's and don'ts of effective implementation.
This presentation, for owners and managers, can vary from two hours to a full day workshop
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