Individualized experiences—dubbed the "next level" of experience—will be a top trend in incentives this year, according to the Incentive Research Foundation. The RIF has released its 2017 Trends Study, which highlights 10 key trends that will affect organizations, their products and services, and the workforce this year.
“At a time when the pace of economic change continues to accelerate, the IRF is tracking some essential shifts in the industry,” said IRF president Melissa Van Dyke. “The 2017 Trends Study also provides actionable suggestions so that business can leverage these trends to gain a competitive edge in a rapidly changing business landscape.”
IRF says that individualized experiences that key on emotion will be the "next level" of experiences. "Tapping emotional engagement through a strategic choice of rewards and incentives is a powerful way for businesses to motivate their stakeholders," the report says.
Another major challenge: The fear of threats—from terrorism to foul weather—affecting incentive events. Almost 60 percent of planners have experienced some form of disruption in their events, estimating that almost a quarter of their events have been affected in some way.
Other top trends, says IRF:
- The increasing demand for non-cash rewards and recognition
- Mastering the changing and challenging regulatory environment
- Adapting to new technology
- Industry consolidation
- Increasing globalization