Inspiring Millennials Through Incentive Travel
by Moira Sherman
What Motivates Millennials?
In today's workforce, we see an unprecedented generational mix working side by side. How do managers and business leaders take into account what motivates different generations of employees? Millennials (youth born in the 80s and early 90s) are the most recent generation to join the workforce and they now dominate the work environment, having surpassed baby boomers in the workforce population over the last 5 years.
This generation unquestionably loves online engagement and their smartphones. But despite constant online connectedness, life experiences are something they value highly and pay close attention to. Most of us are now aware of the “experience economy”, with consumers (in particular, this generation) increasingly opting to indulge in memorable experiences in favor of investing in luxury items. When factoring in the following, it is clear that travel is an extremely strong motivator for this particular segment of the workforce. According to a Business Insider report:
78% would rather spend money on an experience than a thing
77% say their best memories come from experiences
72% want to increase their spending on experiences
69% say experiences make them feel more connected to the world
Millennials are the most open-minded and culturally aware generation today. They have a true sense of global connectedness, a natural curiosity and wonder about the world. This generation places high value on being unique and individuals long to grow their identities through rich, new experiences that are sharable via social media channels. Travel fulfills this need and business leaders can leverage this through incentive trips to increase sales, motivate their teams, optimize and reward performance.
Travel Preferences in Millennials
When planning corporate events involving travel and incentive programs, considering Millennials' preferences and how they perceive travel is more important than ever. They are after all the fastest growing travel segment and the most influential group of travelers in the world.
Some key travel characteristics, according to the Canadian Tourism Commission , Millennials:
often spend more in destinations than other tourists because they travel for longer periods.
travel more frequently and further than other age groups.
are likely to return to the destination over their lifetime.
are pioneer travelers who discover and promote destinations not yet visited by traditional tourists.
play an important role in the tourism landscape and image of destinations.
are instigators of travel trends and thrive on influencing others.
are at the cutting edge of technology and are more connected than any other age group making them more likely to use technology to make recommendations.
value travel as an essential aspect of their lives.