< PreviousRespected Industry Insider Optimistic for 2023 BY STEVE BOVA, CAE EXECUTIVE DIRECTOR FINANCIAL & INSURANCE CONFERENCE PROFESSIONALS (FICP) A t Financial & Insurance Conference Profes- sionals (FICP), we are bullish about 2023 for several reasons. The year 2022 was a “recovery year” for the hospitality sector after it was devastated in 2020 and 2021 by the effects of COVID-19. The only industry more severely impacted was the airline industry — also part of the ecosphere of meetings and events. After nearly two years of little to no in-person business, the hospitality industry came roaring back in 2022, largely due to rebookings. Many hospitality companies, espe- cially hoteliers and DMCs, struggled to keep pace with the demand of RFPs or meet high-service expectations as they were racing to return to full employment. Like their corporate colleagues, financial and insurance meetings professionals are exhausted from rescheduling in- person meetings and booking new events while continuing to deliver on virtual and hybrid events, often with depleted staff. My mantra through 2022 has been that we just need to get through this “bubble” of intense recovery. At the same time, many people foresee this pace to continue at least for the first half of 2023. Industry research reports vary in anticipating a full recovery to 2019 levels or higher in 2024 or even 2025. I am bullish on a strong back half of 2023 despite macroeco- nomic headwinds causing rising costs. Having just competed the 2022 FICP Annual Conference in November, there was a positive vibe that “we’re definitely back.” And we should be positive. We’re a resilient, albeit con- servative, industry that can validate the essential human need for meeting in person, not only for business growth and prof- itability, but also for communicating important information, developing relationships, enhancing team morale and recog- nizing top performers — elevating the strategic importance of meetings and events within organizations. themeetingmagazines.com 10 DECEMBER 2022 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT INDUSTRY OUTLOOK 'A Year of Great Opportunity'INSURANCE & FINANCIAL MEETINGS MANAGEMENT | DECEMBER 2022themeetingmagazines.com 11 COURTESY OF FICP Steve Bova, CAE Executive Director Financial & Insurance Conference Professionals (FICP) Despite ongoing challenges to our economy and world- wide influences, if we learned anything from the Great Reces- sion, the organizations that don’t cut back on meetings and events usually outperform those or recover faster than those that cancel their events or significantly pare them back. To paraphrase chewing gum magnate William Wrigley Jr., we market (meet) for the same reason pilots keep their engines running once they are off the ground. Momentum is critical in our industry, and 2023 is a year of great opportunity. Meetings and Events Are Roaring Back, With More Emphasis on DEI and Sustainability In fall 2022, FICP conducted a Pulse Survey among 80 financial and insurance meetings professionals and hospi- tality partners to gain a baseline understanding of organi- zational emphasis on diversity, equity and inclusion (DEI) and sustainability and their relative impact on meetings and events. This year’s survey was driven by the FICP Influence Committee, with support by FICP’s new DEI Working Group. Here is a glance at some of the results: • DEI is a far more eminent focus for organizations than sustainability, yet both have increased focus for orga- nizations recently. • 84.6% of financial and insurance companies have a current focus on DEI. Only 10% of all respondents (meetings professionals and hospitality partners) say they do not anticipate their organizations to focus on DEI in the near term, a trend seen more strongly within hospitality organizations. • Four out of 10 organizations have a chief diversity offi- cer and/or a dedicated DEI Committee. • 75% of organizations have changed their approach to meetings and events given the organizational focus on DEI, largely impacting who and what is covered on stage. More than half focus on diverse speaker selec- tion and just under half have changed content selec- tion to reflect DEI considerations. As for sustainability: • Two out of three say sustainability was a focus over the past year (62.5% of financial and insurance organi- zations and 72.7% of hospitality organizations). • One out of four organizations have a chief sustain- ability officer. • The top three sustainability concerns were 1) reducing food waste within the organization and/or at events; 2) selecting office building(s) that are LEED certified; and 3) eliminating single-use plastics. I & FMMMeetings With Health & Wellness Activities Excite Attendees BY MAURA KELLER A s the global community emerges from the long- standing COVID-19 pandemic, it’s no wonder organizations are turning their attention to the health and well-being of employees and constitu- ents. More organizations, across all industries, are incorporating health and wellness programs across all facets of their companies, and the meet- ings and events arena is no exception. According to Jeff O’Hara, CMP, DMCP, president, PRA New Orleans, a business event management firm, a fitness aspect can certainly be incorporated into financial and insur- ance meetings. This can take the form of on-site group fitness, a morning “fun run” or taking advantage of the destination with a hike, seaside walk, bike ride, etc. The next piece is the nutrition aspect — including healthy food options at all events and identifying them as such. In the meetings, regular stand-and-stretch breaks during the pro- gram content is very important to keeping good circulation, mental fitness and avoiding stiffness and discomfort. Having water easily available and encouraging people to maintain hydration is key for mental and physical well-being. “So, it is much more that throwing a 6 a.m. yoga session and saying you are addressing health and wellness,” O’Hara says. “And if the CEO or the senior leader at an event is known to participate, that drives participation way up. We have seen on many occasions where the 6 a.m. ‘fun run’ has 90% participa- tion from the group because the CEO was known to be there.” The other piece that drives high participation in health and wellness facets within a meeting is having options at different times of the day rather than forcing them early in the morning. Having activities that take advantage of the destination are pop- ular as well. “One meeting had a nature walk through the trails themeetingmagazines.com 12 DECEMBER 2022 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT DEPOSITPHOTOS.COM PLANNER TIPS Adding a health and wellness component to an event can be as simple as doing chair exercises or chair stretching. Get MovingINSURANCE & FINANCIAL MEETINGS MANAGEMENT | DECEMBER 2022themeetingmagazines.com 13 COURTESY OF IMEX AMERICA This 5K fun run at the recent IMEX America 2022 conference is an example of the kind of health and wellness activity attendees appreciate at today's meetings and events. surrounding the resort. That was great as you got exercise and learned a few things on the way. In a city destination, a group walk through the known sites of the city before the crowds set in gives you a new perspective on the destination,” O’Hara says. Ashley Cardini, CMP, owner of The Mindful, worked as the financial services event manager at TD Ameritrade for 13 years before leaving that career to pursue teaching mindful- ness and meditation at companies and conferences world- wide. Her passion is to weave wellness design into meetings. Early in 2022, she spoke at an MPI event in New York City about how to incorporate mindfulness into meeting plan- ning. She also facilitates wellness programs at companies and within events and conferences alike. “At this point, infusing health and wellness into your meet- ings and events is table stakes. Post 2020, it’s more important than ever to help your attendees take care of their bodies, minds and nervous systems,” Cardini says. “Not only will they be bet- ter primed to pay attention and actively engage during your meeting, but the typical elements that go along with meetings — long travel days, stuck in a ballroom for hours on end, no sun- light, long nights out — are not conducive to our overall health.” Cardini also advises that meeting planners don’t always need to make a big “to-do” about all the ways they’re incorporating health and wellness. Successful initiatives will weave in health and wellness elements into their event cultures seamlessly, because it’s the right thing to do. “It’s expected and should be a core pillar of programming moving forward, whether it’s some- thing you’d market for your particular event or not,” Cardini says. More than anything, health and wellness programs are prevalent when there is a strategic alignment with the host, event theme or participant base, says Heather Herrig, CMP, president & chief event strategist at Every Last Detail Events. For example, if a host organization has an existing health or wellness program, and promotes within its culture, there is a natural opportunity to incorporate it into an event or meeting. In these cases, such programs are much more prevalent. “There is a strong indication of increase in interest for these types of programs from attendees for many reasons, so if an organization does not yet have such an element, it’s a great time to start thinking about including one,” Herrig says. A few years ago, Herrig had the opportunity to work with a consultant who specialized in this area, and together they crafted an underlying foundation of wellness for a client’s meet- ing. “We co-created a menu with the executive chef that focused on serving energizing and delicious food, incorporated elements of physical activity into the event — even something as simple as the encouragement of using stairs versus elevators through fun signage, and strategized on an agenda that would give attendees much-needed rest,” Herrig says. “Most importantly, we commu- nicated to our attendees what we were doing and why, so they knew we had taken the time to take care of them.” Melissa Park, global event producer at Melissa Park Events, has been including health and wellness activities in all events she has planned or coordinated for the better part of a decade. “Overall, I’ve seen the number at each growing, though it’s still a relatively small portion of overall attendees when it’s individually driven versus a corporate culture rea- son for inclusion,” Park says. Form & Function of Health & Wellness Cardini points to five important pillars to focus on with successful health and wellness programs: instructional design, content and programming, social connectedness, physical health and mental health. Instructional design: The most important piece is weaving an understanding of health and wellness into your overall instructional design and culture. It’s taking a moment to breathe, meditate, set an intention or stretch before a person brings their nervous system and brain to a regulated state. Eliminating laptops from the room reduces distractions, and inviting attendees to be present in the room, stating outwardly what you hope to accomplish during the meeting — these small reminders, although they seem fluffy to some, can drastically change outcomes for meetings. “I always say mindfulness is being intentional about what you pay attention to. Planners have the unique ability to set this tone for each meeting with intentional decisions and directions,” Cardini says. Content & Programming/Speakers & Activities: Consider incorporating more wellness speakers into your speaker lineup. Bring in experts in their field who may fill that “inspi- rational” slot and who may not be directly associated to your business, but with cutting edge points of views. Also consider moving that “fluffy” speaker time slot that’s always at the end of your conference or event to the beginning of a con- ference. It’s a unique opportunity to set to set the tone for what’s to come for the rest of the conference. “Get creative with your engaging networking activities and incorporate a few that focus on health, wellness and mindfulness as it makes sense,” Cardini says. Art therapy, making mocktails, harvest- ing local honey, even a luxury experience such as creating your signature scent has a mindfulness component that taps into your senses. Social connectedness: We meet in person to connect with each other, as it helps foster deeper relationships, builds trust and meaningful connections and improves our mental health. As Cardini explains, the online learning boom of 2020 made us realize you can easily watch your favorite keynote on TED.com, but there’s definitely something special about getting a group of people in a room together that can’t be rep- licated virtually. “Capitalizing on that connection must take precedence over content curation moving forward,” Cardini says. “Content can be delivered anywhere, but we have to think about what is going to take place in our meeting and event that can’t take place virtually — and make that frame of mind paramount.” Physical Health/Safety, Activity, Nutrition: Just because risk factors for meeting in person have died down in the media doesn’t mean all we’ve learned since 2020 can be forgotten. Now that health and safety protocols have been established, it’s a planner’s job to systematize and automate your best practices so they’re easy to execute without exhausting your resources. “Incorporating physical activity into your meet- ing needs to happen to keep the energy up,” Cardini says. “Of course, not everyone is going to want to run a 5K at your event or head out to the golf course, but having an activity available for every level of physical prowess is inclusive.” Offering some sort of morning movement activity, afternoon walking session, or even bringing in some mindful movement instruction/chair yoga during a midday session will get blood pumping and improve focus. With regard to food and beverage, think hearty breakfasts that are not all muffins and bagels made with white flour that will have people crashing in an hour. Incorporate healthy snacks after lunch — no more sugary hotel cookies — and consider pitchers of water and iced tea instead of sodas. “You don’t need to serve salad every day to have a healthy lunch, but work closely with your chef and find a balance to keep attendee energy and focus up,” Cardini says. Mental health: Cardini is a huge proponent of incorpo- rating meditation or breath-work sessions into meetings. These can be activities involving everything from starting off the day with an early-morning session, to bringing in a speaker to lead the whole group mid-day, or even offering a “meditation lounge” where guided sessions are scheduled throughout the day. “Not only does this help regulate ner- vous systems for the day ahead, it also helps to teach these incredible habits where people may not practice them often,” Cardini says. “Alternately, allowing for quiet spaces or quiet pods throughout your meeting space can offer attendees a space to get away and connect with themselves in the midst of event chaos.” themeetingmagazines.com 14 DECEMBER 2022 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT Melissa Park Global Event Producer, Melissa Park Events It needs to be held with enough time for participants to go back to their hotels, shower, get ready for the day and travel to the venue without having to rush to make the first session. One of the biggest benefits of getting attendees outside for a hike, bike ride, or even a tour around the destination, according to studies, is that they actually retain information better as a result. COURTESY OF SCOTTSDALE CVBMaking It Work Health and wellness programs can take any form so long as you can logistically deliver it seamlessly and it doesn’t impact on official event programming. Park has delivered on- or off-road bike rides, 5Ks, yoga and dance classes. She says the two biggest factors to consider are that it needs to fit in with your official programming, and it can’t be an after- thought introduced for the sake of ticking a health and wellness box. “Whatever the activity, it needs to be held with enough time for participants to go back to their hotels, shower, get ready for the day and travel to the venue without having to rush to make the first session,” Park says. “If there isn’t enough time to be able to do this, you’re inadvertently forcing attendees to choose between the two, and being on time for the first session will usually win out.” In addition, the activities need to be delivered by skilled and experienced facilitators. Park recommends including a lit- tle participation gift, as well as beverages and healthy snacks, on completion. It needs to be an experience, just like the main event. “Yoga, cycle class or general workouts are always fun on the expo floor. However, those who are truly into health and fitness always appreciate getting outside and enjoying the fresh air much more than an activity hosted within the con- fines of the space they are already having to spend so much of their time,” Park says. Park’s conference on- or off-road bike ride always started and finished at the convention center to make the activity as simple as possible for people to attend. She hired experts with all of the correct ride and safety equipment to facilitate the activity, and even designed a custom cycling jersey that became somewhat of a collectible. Participation in the activity was definitely sought-out, selling out each year, and it even had a lengthy waitlist. Herrig says whatever form the health and wellness pro- gramming within a meeting or event takes, the key is to provide options. “When we think about health and wellness as planners, we are thinking about nutrition, physical activ- ity, rest and mental well-being,” Herrig says. “Our goal is to create a balance of options so that participants can enjoy themselves while still being mindful of taking care of them- selves physically while away from home and out of their usual routines.” In terms of must-haves, the miss would be in ignoring wellness completely. Are you serving participants food that will nourish and energize? Are you providing ample oppor- tunities to stay hydrated? Are you allowing enough breaks so that participants aren’t sitting all day? Do you have some fun and engaging opportunities for group exercise, or perhaps provide walking/running route options around your meeting property? Do you give participants time to take care of them- selves, or are they rushed from session to session? Have you considered adding downtime to allow for mental breaks from information consumption or for the stimulation that comes with socialization and networking? “These are the key questions we should be asking ourselves while designing a wellness-based meeting,” Herrig says. According to David T. Stevens, director, field marketing and global events at Data.World, the big thing surrounding today’s health and wellness is inclusiveness. If you feed people only grilled chicken and steamed broccoli, you’re going to have a rebellion. “So, it’s more about catering to a larger span of attendee desires. Run- ning and yoga don’t cut it anymore for ‘morning workouts;’ you also need to include something for the attendee looking for really work up a sweat, and on the flip side, breath work or meditation is a must,” Stevens says. “Menu items should have something for the person who wants to stay calorie con- scious, so maybe you do have grilled chicken as one option, but for dessert, you have whole fruit and cookies. The other part of this is agenda design. Don’t act like you want people to be healthy, and the lock them in a dark room for eight hours of non-stop meetings with no breaks and keynote after keynote.” A Growing Trend Cardini says attendees expect their health, physical and mental wellness to be taken care of and invested in. They expect the little things to be weaved into content and expe- riences seamlessly, not to take away from the goals of each meeting, but to enhance them. “We also go to meetings to learn about new approaches and experience activities we normally wouldn’t do on our own,” Cardini says. “Planners should feel confident in push- ing the envelope as much as your company culture allows, and keep health and wellness content, and experiences, at the forefront of their plans and weaved into their meeting culture initiatives.” And health and wellness components have been an optional, yet much appreciated, addition to today’s event program. “With such a focus on mental health, avoiding burnout and general stress management, I see events being redesigned to factor health and wellness into every aspect,” Park says. “Right now, there is a huge push for dry parties and health-conscious catering. I think we need to strike a healthy balance.” Stevens adds that planners are starting to realize that by integrating health and wellness elements into their meetings and events, their pre-sales tickets and survey score are skyrock- eting. “The attendees are actually learning more,” Stevens says. “And the execs are seeing the return on investment.” I & FMM INSURANCE & FINANCIAL MEETINGS MANAGEMENT | DECEMBER 2022themeetingmagazines.com 15 Ashley Cardini, CMP, owner of The Mindful, says attendees have an expectation that meetings will have some sort of health and wellness activity. COURTESY OF ASHLEY CARDINIIt Takes the Right Incentive to Truly Motivate BY MAURA KELLER T he demand on people’s time is higher than ever, so if you want to get them to leave their desk, their home or their many various obligations to attend an event, you need a strong reason. Well-designed incentive programs are the solution. “In a post pandemic world, it’s even more com- petitive for people's time when it comes to getting attendees to participate in an event,” says Heather Odendaal, CEO and founder of WNORTH and Bluebird Strat- egy. “Incentives need to be more creative, innovative and truly ‘money-can’t-buy’ experiences. You are competing with peo- ple’s free time or family time; the offer must help them achieve an objective in their personal and professional life.” Not all incentives are created equal. One of the trends Odendaal is seeing in the industry is offering attendees quality one-to-one time with subject-matter experts, thought leaders and mentors. Expertise and people time is one of the most valuable resources out there. “The most rewarding experiences are not necessarily the most expensive ones. I see so many planners make the mistake of trying to get into the fanciest restaurants, the most pres- tigious hotels or splurging on elaborate gifts that break the budget,” Odendaal says. “Try to find the smaller, unique res- taurants — and get the restaurateur to join the dinner. Focus on the location and proximity of the hotel to the activities so they can walk everywhere if they want to, source gifts from local entrepreneurs who have a story to tell, and invite the entrepreneurs to your gala dinner to share their story.” One planner with decades of experience planning incen- tive events says he thinks the No. 1 incentive factor is the repu- tation of previous events. “If it is an incentive trip — especially a customer incentive — if people participated before and it was high quality, plus it hit home for them personally, they will look forward to the next year’s event and spread the word that this is an event people won’t want to miss.” To motivate those in attendance, the planner says insur- ance and financial event planners have to make attendees feel they are part of something special. The destination, of course, plays into this, but it also comes down to how the destination is presented. “You make the activities special, and not things that they would be able to do on their own. The element of surprise is a great addition,” the planner says. Valerie Bihet, meeting planner and owner/director at themeetingmagazines.com 16 DECEMBER 2022 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT COURTESY OF VALERIE BIHET PLANNER TIPS A Special Reward Valerie Bihet, Meeting Planner and Owner/Director at VIBE Agency, says she is seeing incentive trips trending toward smaller gatherings, rather than the larger gatherings prevalent before COVID-19.INSURANCE & FINANCIAL MEETINGS MANAGEMENT | DECEMBER 2022themeetingmagazines.com 17 COURTESY OF SUSAN STAFFORD Susan Stafford, Corporate Meeting & Incentives Planner and Co-Founder of The Event Architects, says offering a place or activity attendees wouldn't be able to access on their own is a great incentive. VIBE Agency, says incentive meetings and events are great tools because they keeps employees motivated to hit their goals, particularly sales. It can really boost morale, get them invested in the overall goals of the company, and help with employee retention long after the event. When it comes to getting people interested in participating, an add-on or big-ticket gift also is very effective. Bihet says the key is to make it as relevant to the attendees as possible. For instance, if they are into fitness, you could give away a Peloton bike. If they like wine, gift a wine-tasting event in their home or a really expensive bottle of wine as part of a raffle. “I have also made their participation on-site into a game,” Bihet says. “They earn points for going to certain — or a cer- tain number — of sessions, downloading something if it’s a virtual meeting, engaging with sponsors, etc. Then it adds up to a large prize similar to free travel or tickets to the event next year if you don’t want to do a gift of some kind.” Melissa Park, global event producer at Melissa Park Events, says incentives are great to differentiate tiered pricing or help drive awareness if used as part of a competition. But if you’re using them to motivate registration, then she thinks planners need to reconsider the event design and program. “While they absolutely do have a place in the promotional mix, if you believe you have to incentivize people to attend, I would recommend taking a step back and asking yourself why you feel it’s necessary,” Park says. “What is it about your content, messaging and marketing that isn’t resonat- ing on its own?” Meet and greets, photo opportunities, personalized signed books and access to an exclusive party or networking event with a keynote speaker are examples of things that can help sell higher-tiered tickets. “It needs to be something, usually an experience, an attendee couldn’t access on their own,” Parks says. “The ‘value’ doesn’t matter in that case, because it’s the exclusivity of the offer that is the appeal. From a planner's perspective, the examples shared are very easy to negotiate into speaker contracts at no additional cost.” Another route based on the same premise is to offer a strictly limited-capacity show feature and hype it up to cre- ate a “fear-of-missing-out” atmosphere around it. “Let’s use stress management as a topic area that your target audi- ence struggles with because who isn’t stressed and over- whelmed?” Parks says. If you want to include a health and wellness activity into your program, look for a brand that has an inspirational, well- known founder or face of the brand, such as Robin Amelia Arzón from Peloton. Work with Peloton to create a unique experience such as bringing a certain number of bikes onto the show floor for a class instructed by Arzón. On arrival, participants will get an assortment of branded gear needed for the class such as a towel and water bottle. After the class, Peloton can sponsor a healthy break where Arzón can present on the topic area and do an attendee Q&A, followed by a meet- and-greet photo opportunity. “Whatever the topics of need and interest are, if you find your version of this, it’s an experience your attendees cannot buy, so to speak,” Parks says. According to Susan Stafford, corporate meeting & incen- tives planner and co-founder of The Event Architects, offer- ing attendees a place or activity they would likely not be able to access on their own is a great incentive for today’s meet- ings. “Also, be sure there are activities included that are only accessible to exclusive groups, such as dinner in a castle in France, or an NFL locker-room chat and ball toss with last year’s Super Bowl winners,” Stafford says. Small group interaction with company executives is also a good motivator for driven employees. As much as wanting the face time, they also do not want to the be the ones who miss out on the opportunity to form or strengthen meaningful work relationships. “Consider giving a tangible gift that is special,” Stafford says. “It could be something brand new that is not offered through general retail yet, or something the attendees wouldn’t usually spend their own money on. Be sure your gifts have mass appeal so if the attendee chooses not to keep it, they can excitedly share it with a significant other, child, etc.” Incentive Trends To Notice Companies using incentive travel are becoming more cre- ative. They recognize today’s employees want more than a paycheck, and are looking for meaningful experiences they will remember for the rest of their lives. Offering these expe- riences not only rewards past performance, but increases employee retention. “Long gone are the days of the company chicken dinner in a ballroom where plaques were passed out. Incentive travel trends are leaning toward unique places and experiences,” Stafford says. Additionally, companies are looking for venues where attendees are encouraged to remain on-site, thus increasing the time attendees spend together enhancing the company culture. These would include sites with plenty of activities and amenities that take place at an international venue or even a cruise ship. It’s important to note that in the aftermath of COVID-19, international incentives are still slow to return to 2019 levels Therefore, companies are focusing on domestic destinations because there is a feeling that not everyone is ready for inter- national travel. “The challenge that presents is that people have already experienced a lot of the United States. So, an effective incentive program has to be really well designed in order to give people experiences that they wouldn’t find on their own and to really create the unexpected, the ‘wow,’” the aforementioned experienced plan- ner says. “This is where a strong local partner becomes crucial. The local knowledge and con- tacts open up a lot of doors that visitors would not get on their own.” Right now, Bihet is seeing more incentive travel trends moving to smaller groups of just 50 to 80 total attendees, such as the employee and their plus one, instead of the former incentive events as large as 250 or 300. It really varies from one company to another. For some insurance and financial companies, incentive trips are based on objectives, so if more people hit their objec- tive and join the “President’s Club,” for example, then that is how many get to go on the trip. For other companies, the qualifications to earn an incentive trip may be different. In addition to the smaller groups, Bihet is seeing more luxurious incentive trips. “Participants want a true experi- ence in a nice place. They are looking at influencers and what they are doing for travel and experiences and using that as inspiration for what they want to do when they come to us,” Bihet says. “I think right now people are looking for amazing experiences. So, it’s not necessarily a trip or an item, but think more broadly — a concert, a spa weekend. If people are into sports, look at a big-ticket event like the World Cup or Super Bowl tickets. If they are big foodies, maybe a celebrity chef comes in to cook for them.” Odendaal says it’s refreshing to see more departments and divisions — other than sales — utilize incentive travel to moti- vate their remote/hybrid workforce. Roles that previously had zero reason to travel now have the opportunity to be a part of incentive trips at their organizations. “Incentive travel has evolved as a tool to aid organizations in their quest for optimal retention. Other trends include regional incentive programs that are closer to home for indi- viduals who do not wish to travel as far or even fly,” Odendaal says. “As flight costs increase, companies are also opting for drive-in locations for their incentive trips.” Doing it the Right Way When it comes to developing programs and events that incentivize employees, one of the biggest mistakes to avoid is not knowing your audience well, whereby the program design is not properly targeted to the attendees, and, as a result, people skip events and it defeats the purpose of get- ting them together. Another big mistake Bihet sees is when the incentive isn't what the people actually want to do. You can plan a great trip to New York, but if they would prefer to be at the beach or a warm destination, then it’s not much of an incentive for that group, and they won’t work for it in the same way. “Survey those who have the potential to qualify, and design a program that is truly of interest to them rather than guessing what you think they would like,” Bihet says. “I did themeetingmagazines.com 18 DECEMBER 2022 | INSURANCE & FINANCIAL MEETINGS MANAGEMENT Heather Odendaal CEO and Founder WNORTH and Bluebird Strategy I see so many planners make the mistake of trying to get into the fanciest restaurants, the most prestigious hotels or splurging on elaborate gifts that break the budget.this recently for a sales destination trip we are planning now. We provided options for them to vote — Mexico, Dominican Republic or Costa Rica — and we are planning accordingly.” Other key mistakes Stafford recommends avoiding include: • Do not assume everyone has the same motivations. A good incentive program is multifaceted to ensure all employees are attracted to at least one component, whether it be the location, venue, activities/itinerary or tangible gifts. • When planning a trip, be sure to offer agenda options. For example, a trip to New York City could include a food tour, a sporting event with pictures on the field/court, a Broadway show and/or a private shopping tour. While someone might be interested in the hottest ticket on Broadway, someone else might be drawn to the food tour. Offering options is key. • If you are offering a family trip, be sure to have planned appropriately for all ages. For example, instead of hav- ing a late-night formal dinner, have a reception with a fully stocked kids’ buffet and offer a movie room in an adjoining space with ample kid care and company logo blankets for all the younger attendees to utilize and then take home. • Most companies offering incentives recognize a sig- nificant part of the reward is offering the employee a unique and memorable experience to be shared with the guest of their choice. Don’t assume your employ- ees only want to spend time with each other. Be sure to set up a program that allows the attendees to bring the guest of their choice, otherwise it is just work in a different setting. • If attendees will be flying to the meeting, do not give gifts they might have trouble packing for their return flight, such as a big-screen TV. If you do, be sure to let them know you have made arrangements for shipping. Gifts should enhance, not be a burden. • Do not make the incentive too difficult to obtain. If people think they can never reach the goal, they will simply not try at all. Be realistic and consider levels. Perhaps earning a trip is fairly doable, but earning the ability to bring the family is a little more challeng- ing. First-class airfare and a car to/from the airport is another level, and a special private activity is available once the highest level is reached. A Solid Outlook Post-COVID, more companies are starting to utilize incen- tives to motivate employees and to combat the “quiet-quitting” trend. Employees are looking for positions that enhance their lives and unique incentives are enticing. As such, companies realize the more unique and special an opportunity, the more likely the employees are to strive to be a part. “Unique destinations, curated experiences and bespoke gifts have all become important factors for com- panies separating themselves from the competition for a competent and motivated workforce,” Stafford says. “As employees look for more mean- ingful employment, these offerings are becoming more and more important.” With borders reopened and everyone eager for a long- overdue adventure, the delivery of company-hosted trips that have been set aside since 2019 are in high-demand. Parks says the main difference that will likely continue into 2023 and beyond, is that prices are currently extraordinarily higher than they were pre-COVID, and with fears of a U.S. recession looming, companies are reducing spending. These two factors obviously contradict one another. “The trend I’m seeing is that travel agencies, DMCs, event management companies and/or the in-house lead are having to get more creative than ever before to find a ‘wow’ factor location that ticks all of the program requirements and meets a steady or declining budget,” Parks says. Indeed, as the cost of travel continues to rise, Odendaal thinks incentive travel will continue to play a major role in retention strategies, especially when the travel delivers a “big bang” or “money-can’t-buy” experience. “I am also seeing a trend for more social purpose-driven incentive travel, where attendees can not only check a bucket-list item like climbing Mount Kilimanjaro in Tanzania, but also volunteer with chil- dren at a local orphanage,” Odendaal says. And the experienced planner points to a number of stud- ies from Society for Incentive Travel Excellence (SITE) and Incentive Research Foundation (IRF) that show a strong future for incentive travel. “People are motivated by experi- ences more than material goods,” the planner says. “And the ability to make those personal connections is something that cannot be replicated. If anything, incentive travel will become even more prevalent as a motivating tool.” I & FMM INSURANCE & FINANCIAL MEETINGS MANAGEMENT | DECEMBER 2022themeetingmagazines.com 19 One of the best incentives is offering potential attendees the chance to meet a celebrity chef, where the chef prepares a signature meal. COURTESY OF HEATHER ODENDAALNext >