A company has to consider a lot of things when setting up a corporate travel policy. These include booking flights, accommodation, allocating meal allowances, and handling expenses. If a company is not careful, a lot can slip through the fingers. Therefore, organizations should consider whether their travel policy is strong enough to handle every area of travel in the company.
Saving on corporate travel when you have employees traveling to different places all the time can be tricky, but possible with the right travel policies. CrewFacilities can help create a corporate travel policy that will help you save money on every trip.
Below are some tips CrewFacilities recommends in implementing in your corporate travel policy to save money.
Having an approval system in place before any booking is made is one way to save money on business travel spending. Furthermore, when a superior weighs in on the trip's importance and approves your travel expenses, it eliminates the chances of a last-minute cancellation which triggers wasted expenditure.
Save On Flight Costs
Airline tickets are expensive; therefore, you must be smart about the airline you select. You can practice flexibility on travel dates and the airline, you can save money by booking economy flights and choosing flights with flexible return dates if you are uncertain about your trip duration. Alternatively, you can register to get alerts on promotional and discounted travel rates, which could save your company money.
Minimize the Hotel Costs
Room rates vary, and if you don't set a limit and let your travelers choose, you may find that you are spending more than you are making on the said trip. So, set a budget or a star rating of the hotel. For instance, you may specify that only standard rooms can be booked and clearly outline that you are not covering minibar charges and other expenses that are not in line with your trip. Wi-Fi costs are reasonable since your employee may be required to bring back work to the hotel. When the travel policy is clear on which cost are or aren’t acceptable, savings will result.
Set a Food and Transport Allowance
Give your employee a bit of lee-way. You can give them daily meal allowances and leave them to manage as they please, but keep in mind that high-profile clients should be entertained in 5-star restaurants. In such situations, a company credit card is viable. As for transport, advise your employees to choose the most cost-effective means of transportation while keeping safety in mind. This helps you reduce overspending.
When it comes to travel, you must plan ahead of time. This allows you to get better flight rates because if you wait until the last minute, the price may increase. You should also book accommodation early to enjoy early bird discounts.
Hiring a travel management company to take on the burden of travel planning and management from your staff allows them to focus on their core business duties. By partnering with CrewFacilities, your employees get more time to focus on their work, and you get better rates on airfares, hotels, and special offers and promotions.Posted by: admin