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Industry News: Budgets For Incentives Increase in 2010

Issue: 2010feb

About one-third of companies will increase their budgets for merchandise/non-cash incentive programs in 2010, according to a Pulse survey released last week by the Incentive Research Foundation (IRF) in New York. Another one-third surveyed anticipate budgets for such incentive programs will remain unchanged, while the remaining companies noted a decrease in merchandise award values for 2010 programs.

“Cautiously optimistic is the term I would use to describe the overall message in the data from the survey,” says Mark Peterman, chairman of the IRF research committee. “Our sense is that companies may have been sitting on budgets for the past 10 months or so waiting to see how things were going to play out and whether there was going to be more pushback from the media and community regarding incentives.”

In other survey results, planners still point to the economic downturn as having a negative impact on their ability to plan and implement merchandise/non-cash incentive programs. However, while 34 percent report a negative impact, this is an improvement over the almost 50 percent reporting a negative impact in 2008.

When asked,“What changes, if any, will be made in 2010 with award selections?” 27 percent of respondents say they will include individual travel as an option in 2010; 22 percent indicate that the use of debit/gift cards will be increased; and 18 percent will add merchandise. IRF survey respondents include incentive travel providers, corporate incentive travel buyers, suppliers and other industry professionals.

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