Need-to-know incentive trends for the year ahead

Charlotte Flach Charlotte Flach Editor, C&IT

With ‘The Great Resignation’ continuing to impact businesses and a heightened focus on recruitment and retention, incentive programmes are more important than ever.

In a bid to attract the best talent in a landscape of scarcity, companies are looking at ways they can be more competitive in the jobs market. Incentives offer a tried and tested method of boosting benefits packages and increasing employee engagement.

According to the Incentive Research Foundation’s (IRF) Industry Outlook for 2022, overall incentive budgets are expected to increase by 34% in 2022, with spend-per-head increasing to $806 (approximately £595) from $764 (approximately £564) compared to the previous year.  

The IRF’s June 2021 study also reported that group incentive travel awards are considered ‘very’ or ‘extremely’ motivating by 80% of survey respondents.