Is Your Corporate Travel Draining Your Company Financially? What to Change

By on September 28, 2016

If you have noticed that employees are spending way too much money when they make their travel arrangements for business trips, and it’s causing a financial strain on your company, it’s time to hire a corporate travel management company for help.

You don’t have to leave the travel arrangements up to your staff who don’t care what they spend on a trip because it isn’t their money, or to other staff that may not take the time to find the best prices. You can also find an incentive travel program to enroll in, where you are rewarded for using them and making travel arrangements. Here are a few things you need to do to start saving money.

Hire a Management Company

Find a travel management company that guarantees the lowest rates on airfare and hotel rooms, and that can do all the work for you. They should also offer you free stays and travel for all of the arrangements that are booked throughout the year, or have other rewards. Your staff must contact the agency to notify of them of trips when they have to make arrangements, and the management company you choose should send a copy of the itinerary to management for each trip.

Start to Audit Everyone

Every employee that travels and uses a company credit card, or that gets credited back for their expenses, needs to be audited. Make sure that the receipts they have make sense, and that all purchases and charges are business related. Also make sure each expense report makes sense. When you use a corporate travel program, you’ll know you are getting the lowest rate on airfare, auto rentals and hotel stays, you don’t have to take your employees word for it. This means less auditing is required.

Battle for the Perks

Have your staff battle for the rewards that come for our travel program. If you can reward people with a free set of airline tickets, a free hotel stay, or even an entire getaway package, it will be employee motivation for them to cut their spending. Establish the rules for the contests, how they can get entered to win the perks, and then watch as everyone starts to cut back their spending when they are traveling at the expense of the corporation. You can use the free things you get from the management company, or splurge and purchase a vacation with the money you are saving.
These are just a few of the things you can do so your corporate travel expenses aren’t a huge concern, and so they don’t hurt profits. Start looking for a company and let them start managing your travel right away.

Leave a Reply

Your email address will not be published. Required fields are marked *