April 21st, 2023

Six Signs Your Travel Policy Needs A Revamp

A good travel policy is a vital hiring tool in today’s competitive business world. But if your policy is failing, then your business can not only be wasting time and money, you may also be losing your best talent as they go in search of new employment opportunities.

In a recent survey by the Association of Corporate Travel Executives (ACTE), 28 per cent of business travel managers in the US, Europe and Asia said that employee satisfaction with their corporate travel policy was an issue for retention. And one in 10 deemed it ‘significant’.  

How can you tell if your company should revamp its travel policy? Here are some signs:

1. Your travelers aren’t satisfied
It’s a good sign that your travel policy needs a revamp if you are collecting more complaints than air miles. Complaints include “preferred” carriers that force travelers into catching a later flight, or a “preferred” hotel that’s inconveniently located for their travel needs. In 2017, the Global Business Travel Association reported that 79 percent of all business travelers and 88 percent of millennial business travelers said their business travel experience affected their overall job satisfaction. A good policy will both maintain control over your costs and take care of your employees needs.

2. Your travelers are working outside the policy
Your policy begins with you booking the trip, but can end with reams of paperwork on the return of your staff if they go off piste. Corporate culture has seen a rising trend in these “rogue travelers” who mistakenly believe they can get the best fares or stay in more unusual locations if they organize the details themselves. Compliance is easily achieved by using a single travel management company that understands the requirements of a travel policy and whether it’s a good fit for your corporate culture. 

3. The process is unpopularYour employees like to keep things simple and avoid any hassle. This is where travel management technology can provide a one-stop solution with a mobile app that lets them stay ahead of any change of plans. In addition, an effective travel policy will manage expenses and the reporting process with ease. As travel is an on-the-go issue, all key points should be instantly accessible on your employees’ cellphones.

From destination guides to 24-hour support, a travel management company can provide a checklist that takes your policy from good to great. Your travel policy may be unpopular because it is misunderstood, rather than ill-conceived. When polishing your policy for your future business travel needs, remember to factor in effective training and communications.

4. Your travelers are not on board with the details 
When revamping your travel policy, keep your entire team informed. Can a copy be easily found for reference purposes? A sent email it is not a guarantee that it has been read. For a more effective solution, post your policy in your expense platform dashboard. New employees should be informed about your travel policy in their onboarding process. And if you are planning a group trip, send a reminder email with your travel policy attached. A travel policy is a living document and should be kept relevant and on your team’s radar at all times.

5. Your travel spend has changed
From your business budget to your employees’ loyalty points, a great travel policy can benefit your admin and finance teams. It enables spending within real-world parameters and considers all the hidden extras. Has your policy been updated since an airlines baggage or have Wi-Fi fees changed? You can calculate how much your company could potentially save by enlisting the services of a travel management company that maximizes online booking tools.

6. You can’t remember the last time you reviewed your travel policy

An annual policy check-up is essential in the ever-changing travel world. With safety and security a top concern, it’s important that your duty of care is relevant to today’s needs. According to a report by the Global Business Travel Association, petty crime, medical and health concerns, and bad weather are some of the issues your travelers may face. Travel Leaders 365 can alleviate the potential stress of your business travel through pre-trip risk assessments to round-trip support.  

If you want to take your travel policy from serviceable to special, take a look at a summary of solutions from Travel Leaders 365