While your business may not need the services of a travel management company, here are three immediate steps you can take to save on your business travel:
1. Establish guidelines Set clear guidelines for your employees to follow when booking travel. Some basic guidelines include:
- What fare class can employees fly for domestic and international trips?
- What hotels can they stay at?
- What trip expenses can they charge back to the company?
- What level of approval is required before booking a work-related trip?
2. Communicate Make your employees aware of your expectations around travel. Once the guidelines are set, record them and make them a living, breathing document that is not just filed away in a bottom draw, but that is agreed by your employees and then discussed regularly and refined when needed.
3. Track spending and monitor your progress If you aren’t already doing so, track and record your travel and entertainment spending not only to identify your savings, but also the factors that are contributing to them.