Centre of gravity for Chinese firms shifts to employees
The centre of gravity for Chinese firms has shifted to employees, from management, an evolution that is beneficial for meetings and incentives, according to industry members interviewed by TTG Asia.
With the business environment becoming increasingly competitive in China, private sector firms are fighting hard to stay cutting-edge and to keep their staff loyal and motivated. As a result they are holding more meetings, incentives and teambuilding retreats in a bid to strategize, seek ideas and innovations from staff, and keep the good ones from leaving.
Benson Tang, regional director-Asia at the Association of Corporate Travel Executives, said that MICE expenditure is rising due to the changing business environment.
An increased MICE spend is what’s also driving more companies to include MICE expenditure management as part of their corporate travel management policy.
“In the past, corporate travel was transient – travel to look for new business, hold one-on-one business discussions with partners, for training purposes, etc. Now, more corporates are bringing MICE into the travel program,” said Tang.
“There are events managers who not only do RFPs for meetings and incentives but look after the travel experience. China firms have become traveller-centric – before it was always the management’s point of view. This translates to a simpler policy today and one that engages the person’s well-being and travel experience. In more advanced cases there is even an ‘open’ travel management style,” he added.
Tang attributes the change to a maturing human resources discipline in China and the recognition that a more travel-centric policy could be a strong incentive to gain staff support and loyalty.
[pictured: Window of the World Park, Changsha, China]