2020 was a challenging year for all of us. Many businesses suffered significant financial losses, and budget cuts became new normal. And, since we already entered a recession, we will have to stay put in the following years as well and assess our priorities continuously.
Corporate travel is one of those segments that will undoubtedly suffer some cuts and revisions since it is one of the largest controllable expenses for many companies. That said, we decided to present you with a few ways your company can save money on corporate travel without losing all the privileges and comfort this type of travel brings.
Revise your corporate travel policy.
Setting up a corporate travel policy includes many things ranging from booking flights to assigning meal allowances. Doing it perfectly can seem near-impossible.
The truth is, since there are many things to think about, something will inevitably slip through.
If you want to save money on your corporate travel, make sure to revise the existing travel policy (or make one if you don’t have it) and see where you can save, what you need, and what you can live without during your travels.
Offer employee incentives for saving money on corporate travel.
One of the easiest and most straightforward ways to save money on corporate travel is saving on the traveler itself. To put it simply, you can set a budget for a trip and reward those who come under it by sharing the savings with them.
By doing this, you can make the travel process easier and cheaper for the company. This can also prove to be a positive and rewarding experience for the employees. You will also encourage your employees to behave more responsibly and help them develop an ownership mentality that will push them to do the right thing for the company.
Promote public transit.
An excellent way to save money on corporate travel hides in encouraging public transit instead of a taxi. For instance, cities like Amsterdam allow their visitors to pre-pay their digital transit pass before they come. When they land, they just need to visit the airport’s metro station, scan their smartphone, and head to the hotel. If you want to save, make sure to think about those things before you (or your employees) make the travel.
Revise per diem spending.
If you offer the same per diem for corporate travel regardless of the destination, you might want to revise this practice. The truth is that expected daily spending is different in Denmark than in Ukraine. This way, your company can save a lot of money just by tweaking this simple thing. That said, make sure to adjust your corporate travel per diem by the cost of living of the destination.
Find travel agencies who partnered with NDC provider.
Choosing the right partner agency for your corporate travel can help you save more money while keeping the comfortability levels intact.
Travel agencies that use NDC integration instead of traditional channels will be able to offer you cheaper fares, which will give you greater control over travel budgeting.
Luckily, Thomalex got “NDC Certification” Level 3 status under the NDC Certification Program. This allowed our clients to make your travel safer, cheaper, and more enjoyable.
What strategies will you use to save on your corporate travel? And, agencies, have you thought about partnering with a technology provider Thomalex is? Let’s chat!