Company travel policies need to be reviewed and revised so that they stay relevant in the rapidly changing world of corporate travel. Andrea Tsakanikas, an experienced travel manager and founder of CrewFacilities.com shares three of the key issues one should consider when updating the travel policy of a company.

a) The Sharing economy. The sharing economy has taken the world by storm and entities like Airbnb have become commonplace. Many company travel policies which were designed years ago may not have any position on the sharing economy. This grey area can expose the company to duty of care issues, such as when an employee is attacked when staying in a room obtained through Airbnb. It is therefore important that the sharing economy is considered and guidelines are added to the travel policy so that employees know the position of the company on this issue.

b) Bleisure. There is a growing trend among corporate travelers to add leisure to their work-related trips. This is particularly common among millennials. The travel policy of your company should think soberly about this reality so that the company doesn’t lose money and employees stay happy. For example, you can allow an employee to add a few days to a work trip as long as company credit cards will not be used to meet the costs incurred during those extra days. Find a formula which will meet the needs of the company as well as those of the employees.

c) Hierarchy. Your company’s travel policy may have been designed when the company was still small. However, as companies grow, a number of travel policy related issues arise. For example, should senior company executives be bound to book more costly hotel rooms when compared to the cost caps placed on other employees or they should lead by example? Think about the pros and cons of treating different levels of the company hierarchy differently and update the travel policy accordingly.

Work with an experienced travel management firm like CrewFacilities.com when evaluating and updating your company travel policy so that the document created saves the company money without taking from the traveler’s experience.