The Incentive Trends Report 2022
Report by Incentive Research Foundation
As we enter 2022, Covid-19 and uncertainty continue to impact every aspect of incentives. Adaptation, flexibility, and communication will continue to be key as companies weigh their options about bringing employees together, whether it’s opening the office or travelling on an incentive trip. Incentive professionals are called to motivate a changing workforce while corporate goals also continue to change. For the foreseeable future, a remote and hybrid workforce is here to stay. A Mercer survey last May found that 83% of employers will continue to provide flexibility at greater scale post pandemic.
Given the importance of recruitment, retention, and engagement, incentive programs will be more important than ever. Dramatic hiring shifts are driving companies to examine how to be even more competitive in the job market, and a robust incentive program is an important part of a company’s full benefits package. According to the IRF’s Industry Outlook for 2022, overall incentive budgets are expected to increase by 34% in 2022, with the per-person spend increasing to $806 from $764 the prior year – although these budgets will need to accommodate price increases resulting from workforce, inventory, and supply chain challenges.
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