08 Sep The Secret Ingredient to a Better Travel Management Program
Travel policy: Who needs one?
Business travel can be an enormous undertaking. In fact, recent data from Certify indicates that the average cost of domestic travel reaches $111.7 billion each year. Additionally, business travelers spend an average of $949 on airline costs, hotel fees, and other expenses during U.S. business trips–adding up to huge chunk of your company’s budget. That’s why your company’s finances depend on some set instructions and financial guidelines: It’s vitally important to establish boundaries for employees who travel for business. Does your company have a travel policy? Now is the time to get one if you don’t.
Business leader Lee Iacocca said, “Lay out the rules, communicate with your employees, motivate them and reward them. If you do all those things effectively, you can’t miss.” No words could provide a more apt description of travel policy. If travel managers could figure out those financial priorities, they’d be only a small step away from a well-managed travel program. The next frontier? Outlining their priorities and rules in a well-written employee guidebook that employees can understand and even appreciate.
A recent survey conducted by Rockbridge Associates showed that out-of-policy travelers spent an average of $2,881 more per year than travelers following the travel policy. Add up all of these extra money drains, and travel is racking up over 15% more expenses per year. Imagine how quickly these expenses accumulate over the course of time!
Once you have a policy, you have to enforce it. We’d love to be a resource for you in identifying your travel needs and creating the perfect travel policy that can rise to the challenge. CLS makes it easy for our business travelers: When we find options, we research and present those that fit within your specific guidelines. If some good options fall outside the policy, they will require specific approvals before we proceed to the next step in booking.
Simply put — If you fail to plan, you plan to fail. Don’t skip a travel policy when planning your corporate travel management. Your business will save real money while ensuring that employees’ needs are met, so it’s a win-win situation. Read more about the details of travel policy here and what questions really matter when finding the right policy for your business.