Every business wants to save money. This is especially true when it comes to corporate business travel management, where, more often than not, large amounts of money are being spent on a day-to-day basis.
Sometimes saving money feels difficult, but what can be done to reduce your financial outgoings in the short and long term? We have done the hard work for you and listed the 5 ways in which a company can save in terms of business travel.
Advocate Alternative Travel Arrangements
One of the largest travel spends is travelling across large cities. If you encourage your employees to take public transport, huge savings can be made. This can help you avoid parking fees and allow you to make big savings. As well as taking public transport, taxis are also a great alternative, especially if you have multiple employees on location who are willing to share a ride.
Give Employees Incentives for Budgeting
Transparency is essential here. When cutting costs for travel, make employees aware that this is not a sacrifice, but an incentive-based decision where they will receive some form of reward for their lifestyle change. You can empower employees with elements such as bonuses, team days out, or lunches on the company card. You will make great savings here, and your employees will perceive this as a win for them also. They are a mixture of overarching policies and last-minute decisions. By thinking about the situation in with a 360 point of view, every employee can help. It is possible to save capital while still taking all those essential trips.
Advocate Flight Flexibility
At the end of the day, the end destination is the same. If you can get your employees on flexible flights, this will result in big savings for your business. Videoconferencing is the ideal form of client communication when it comes to reducing spends, but this will not always be possible.
Flexibility in terms of dates, flight times and check in timers for hotels are all areas that will allow wiggle room, ultimately cutting costs. For example, midweek flights are much better cost-wise than the weekend. If you can convince your client to change the date to a midweek event, conference or meeting, then you can reap great rewards from a financial perspective.
Get Better Flight Inventory
Booking in advance is the absolute best way to slash travel costs. Use budget friendly airlines, use flight points and use any connections you have, and you will find the world becomes a much cash friendlier place in the world of business.
Use Alternate Accommodation
Don’t simply use the hotels you always have used just because you know them. There are countless options in this day and age in terms of business accommodation. From air bnb, managed apartments, to discount hotels, you can give your employees and equally gratifying business trip experience without breaking the bank. Branch out, scope the market and see what is available for you.
By following these steps, you can make huge savings for your organisation, give your employees a high-quality business trip, and keep those who work for you happy.
