Case Study: Budget Adherence

GREAT THINGS DON’T ALWAYS HAVE

A BIG PRICE TAG

Background:

Hoya Vision Care Canada, with headquarters in Mississauga, Ontario, produces high quality lenses. For four years, Hoya’s incentive travel was self administered, and consisted of all-inclusive resort packages but now they were looking to grow and elevate the program. They needed expert help for the 2013 trip.

Challenge:

The all-inclusive packages had very little flexibility with cancellations, which was highly problematic for an incentive program based on qualifiers hitting sales targets. With the number of qualifiers fluctuating from 70 to 100, cost containment was near impossible. To make matters worse, the company suffered a setback when production facilities in Thailand were flooded forcing the budget to be tightened. At the same time, Hoya recognized an outstanding incentive program would buoy morale.

Solution:

 

Two of our team members, Diane and Kyra, devised three key cost control measures that would not sacrifice quality.

First, they dealt with the flights. Securing preferred pricing with a wholesale travel company resulted in less expensive seats, and by re-negotiating a more favourable cancellation clause, the problem of paid-for-but-unused tickets was finally put to rest.

Second, they researched accommodation options in Montego Bay and successfully negotiated more favourable attrition and cancellation clauses with 5-star, 4-diamond Iberostar Suites, the hotel of choice.

And last but not least, Diane and Kyra adopted a DIY approach to photography and welcome gifts that further eased budgetary pressures. Kyra, a hobby photographer, took photos throughout the program and then assisted one of the Hoya staff in putting together a slideshow for the gala night. Even before attendees arrived, Diane and Kyra scoured local markets for gifts. Like the photography and slideshow, finding and purchasing local swag reduced costs that Hoya would have incurred through outsourcing these services.

Testimonial

“Working with Meridican for our company event added true value. They took all of the stress out of organizing, and negotiated far better accommodations and rates than we had in the past. This allowed my team the opportunity to enjoy the event experience like a guest. In the planning Meridican meticulously worked on the details of our specific needs, with a commitment to satisfying any request. At the event, Diane and Kyra were committed to our success and enjoyment, always accessible, handling all hotel activity details and engaging with our clients with professionalism and expertise. Our guests were as impressed and enamoured with the Meridican staff as we were! They managed to exceed  our expectations, elevate the entire experience and deliver under budget.”

Maria Petruccelli,Hoya Vision

Result:

The program was under budget; Hoya was pleased and surprised by a $17,000 refund at the end of the program. Although it is a relatively small amount, when combined with a fabulous program it went a long way to inspiring a can-do spirit after a challenging year. In the end, Hoya vowed to never run the program themselves again.

Hoya Employees dressed as Rastafarians