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Sunday, April 08, 2007

Corporate Time Shares 2.0?

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The concept of a corporate timeshare has not completely died away, but might be going through a transformation.  Many companies have for years acquired vacation homes and other items in the company name for the use of key executives and shareholder or bord retreats and meetings.  Various financial scandals and key executive perks that have bled a number of corporations dry have damaged the concept.

It's partly due to the abuse of some of the executives asking for and receiving these benefits that the concept grew out of control.  However there still might be a future for corporations to use vacation homes near Disney World as an example in a way that is good for the company.  Instead of purchasing these homes for the exclusive use of the CEO or CFO, a company could use these real estate purchases as a form of timeshare to reward employees of all levels throughout the company.  Various incentives awards and recognition's and contests could be used to and sent employees to achieve large goals that the company may not choose to compensate through salary increases or other benefit compensation.

These types of rewards can go a long way towards improving our row and creating a healthy sense of competition in a company.  They're not the only solution, but their usage is definitely been under exploited in a positive way.