Definition: An incentive is something used to encourage others to achieve a specific goal. It may take the form of a prize, compensation, bonus, etc. An incentive event is usually a program organized to recognize a specific individual or individuals who achieved specific goals. Incentive travel is a term usually used to describe a multiple day trip that is rewarded to an individual or individuals who achieved specific goals, often related to sales and business development.
Also Known As: Incentive Program, Incentive Travel
Examples:Event planners will organize a incentive program to world class cities and resorts that are meant to encourage a group of individuals to achieve the stated goals for qualifying for such an event. The corporation rewarded top sales performers with a five day/four night trip to Hawaii.