Many employers and SMEs struggle to save money on their business travel programmes, while still meeting the needs of their teams.
For example, it might make financial sense to ask team members to share bedrooms, but this often causes complaints. Just because the trip is for business, doesn’t mean employees want to spend every waking hour with their co-workers.
So how can you cut the cost of your travel programme, while still remaining compliant and keeping your team satisfied? We have put together three tips which should help you achieve this goal.
1: Book Early (If Possible)
Booking your flights, hotels and rail trips early can often lead to the biggest and most obvious savings. Research suggests that booking your business trips 28 days in advance can result in a saving of 44.7% compared to booking three days before departure.
A Travel Management Company can help choose the best and most cost effective ticket by ascertaining if you need flexibility and determining the most suitable options for you.
Inform your staff, educating them on the importance of planning. You could also offer an incentive to those who bear this in mind when arranging trips.
2: Devise and Implement a Comprehensive Travel Policy
Ensure that you have put together a firm travel policy and that everyone is educated in its elements. This should include specific details about daily allowances, preferred hotels and airlines, rules around expense reimbursements, and spending limits.
If this sounds daunting, our expert team can help. Using your data, we can help you devise a comprehensive Business Travel Policy and make recommendations on how you can maximise savings and minimise traveller impact. We arrange regular review meetings with clients to ensure your programme is performing and to assess changing needs.
3: Use Loyalty Schemes
Most airlines, hotels and even many restaurant chains now have exciting loyalty and reward schemes that can help save significant percentages if used efficiently. In 2015 hotel loyalty programme members increased by 13%, largely because many chains are now personalising their offerings and making them more useful to firms.
Loyalty schemes typically earn a client between 1% and 5% back from their travel spend. However they can be hard to keep track of and monitor. If you work with a TMC (Travel management Company) they will have systems in place to make sure you are getting the most from each programme and the relevant savings are being made. You’ll be able to collect points and achieve discounts, without having to do a thing.
More Best Practice Tips for Cost Savings
- Where possible opt for a fixed outbound and flexible return rather than a fully flexible ticket. This can lead to substantial savings in rail travel.
- Do you really need a case? Smart packing makes it possible to go on with just a carry on bag, which will avoid charges.
- Consider using offsite parking rather than parking at the official airport offering. For the small inconvenience of a quick shuttle bus, you can save up to 70% in parking costs.
- Check your credit cards as paying with some cards offers free car hire insurance, which negates the need for an extra policy.
- Consider transport companies such as Uber, rather than booking your usual airport taxi.These can often be more cost effective and just as convenient. Better still, check if your hotel offers a free shuttle to avoid this cost altogether.
Beyond Business Travel Can Help
Hopefully these tips have helped you work out at least a few ways in which you can make cost savings in your business travel. Having been in this sector for decades, we have many more tricks and tips up our sleeve. If you would like to know more about how partnering Beyond Business Travel may help your company, send us your details in the form below to secure your free cost reduction review.
[contact-form-7 id=”125″ title=”Contact Us”]