Travel is an important part of the business operation for companies in many industries, but it can certainly be expensive and have a negative impact on your bottom line. A smart business owner will always be looking for ways in which they can save on travel and there are lots of different ways that this can be achieved while still allowing your staff to travel comfortably and efficiently.
Create a Corporate Travel Policy
First, you should have a corporate travel policy in place which outlines each area of travel. This will include aspects like how expenses are handled, a proper approvals process, guidelines on bookings and on-site spending. This will help you to get greater control of business travel and find ways to reduce costs.
Cut Hotel Costs
The cost of hotels can be a major expense but it is also an area where you can make big savings because costs can vary so much. It is a smart idea to conduct thorough research into hotels in the area and you might find that if you make repeat bookings with the same hotel then you could get loyalty discounts. Although this is a good place to save, you must also make sure that your employees are staying in nice hotels which are well-situated.
Food & Transport Allowance
Having allowances in place for food and transport should ensure that the trip falls within the budget. There may be times where exceptions might be made, such as a meeting for an important client or celebrating an achievement, but having daily limits can generally help to reduce costs.
You can usually make savings on flights, hotels, trains and other expenses simply by booking online. As an example, booking Carnet tickets allows you to make big savings for those that make regular trips from London Victoria to Gatwick and pre-booking also allows you to create a detailed plan for each day.
Travel During the Week
You must also consider the time that you arrange travel too. It will be much cheaper to travel during off-peak hours during the week as opposed to rush hour or during the weekend. Additionally, this can help to make journeys quieter and less stressful which will help your staff to arrive feeling fresh and ready to conduct business.
Business travel can be a huge expense but also an important part of the operation. These tips should help you to reduce costs while still providing a positive travel experience for your team.