THE STATE OF OUR INDUSTRY

THE VALUE OF MEETINGS

Business Growth

Meetings and events are valuable tools for U.S. businesses. Meetings and events drive business growth by fostering collaboration, idea-sharing and generation, and employee retention. Incentive programs have been shown to be two to three times more effective than cash at motivating employee performance. In a recent survey, Fortune 1000 Chief Marketing Officers said that meetings and events provide the highest return on investment of any marketing channel. A new study shows that 87 percent of Americans who have attended an out-of-town meeting or convention for work say it is important to running a strong business.

Employee Development

Good managers encourage the professional growth of employees, and employers must make sound investments in key staff in order to retain top talent and secure the bottom line. Far from being a perk reserved for executives, meeting and performance incentive travel provides valuable development and networking opportunities for employees at all levels.

SUMMARY

• Non-cash incentives are 2 to 3 times more effective at motivating employee performance, and companies spend less on incentive travel than on cash compensation to achieve exceptional productivity from employees.
• Meetings and events are strategic tools that deepen employee relationships and contribute to the overall health of companies. A 5% increase in employee retention can generate a 25 to 85% increase in profitability.
• Companies with satisfied employees generate better overall returns in the stock market, with firms on the list of “100 Best Companies to Work For” generating up to five times as much return as their competitors.