It can be challenging to save on business travel, yet it isn’t beyond the realms of possibility. If one has various employees that are flying all over the world, there are ways that one can save on their travel costs.
It is expensive, but corporate travel needn’t always break the bank. If one has a smart process in place, they can save money with every trip. Cutting costs is a great idea which will keep profits up and stakeholders happy. Here we look at 10 of the best ways to save on business travel.
1. Tightening up corporate travel policies
There are often many things that can slip through the net, for instance, meals and handling expenses. Scrutinize your corporate travel policy and think about whether it’s right for the company. Set out some clear procedures, helping your business travellers make decisions with ease. This will reduce the chances of incurring additional costs to your business.
2. Pre-trip approvals
One can reduce their corporate travel spend by having approval systems which are in place for every travel booking. With this system, one won’t need to worry about trips being cancelled after they’ve been booked.
3. Save on flights
Buying business travel tickets as an expensive endeavor, so shop around. By being flexible and booking economy – you could save a lot. Check discount websites for offers too. Once making a booking, the cheapest option is usually to have some perfect travel plan.
4. Hotel costs
The rate of rooms can vary a lot, even within the same establishment. Be smart about savings and to shop around for the best hotel rooms. Clearly outline that your employees will cover any incurring charges, such as minibar and Wi-Fi costs.
5. Food and transport allowances
Some people may go overboard with food and transport, so keep a tab and set a budget. There may be exceptions, such as having to satisfy a high profile client, but generally, an employee can be given an allowance per day. With travel, employees could use their own vehicle to be reimbursed later – this will save you money that isn’t spent on taxis.
6. Planning ahead
When someone wants to save money, this really is the golden rule. Plan ahead in terms of everything. Hotels, flights, food – the lot!
7. Auxiliary charges for travel
Do bear in mind that there may be a number of associated costs with travel. Common ones are parking, Wi-Fi and believe it or not sometimes even mobile casino costs. Combine this cost together and factor them into your spending – never lose sight of them.
8. Increasing on the road productivity
It is best to sort out as much as you can for your employees. If an employee is spending more time organising the trip, they may make mistakes and spend less time on work. Try and sort things out for you employs as much as you can in advance.
9. Travel management services
If you have the budget to do it, hiring specialists in corporate travel management can help streamline everything. When you outsource your travel booking to someone else, more time can be spent on business. It’s a type of service that certainly has benefits if you have the money.
10. Rewarding one’s employees
If one lets their employees take travel options for later reimbursement, the business could save money by offering them incentives to deliver further savings. Vouchers, bottles of wine, you name it. Corporate reward schemes of this nature can bring about big savings. No longer will you have to splash out on expensive business travel direct flights if your employee can find a cheaper option.
Business Travel Wrap Up
Every business trip incurs costs, but hopefully, with these tips, these costs can be kept down for your business. Best of luck with the management. We hope this information has been helpful and savings can be made.
Got any tips for us – anything we’ve missed out? Please get in touch and give us a comment below!
