Four Travel Policy Best Practices
Travel and entertainment spending is typically one of the largest controllable expenses that a company has. Not following travel policy best practices is an easy—and shockingly common—way to cost your company large sums of money. United States business . Read up on these four travel policy best practices and use them as guidance to create and enforce a better policy that improves your company’s bottom line.
- A travel policy must, first of all, be comprehensive. A travel policy needs to cover all elements of your travelers’ trips, from booking to their return. Set in place thorough policies on air, ancillary, hotels, trains and more to ensure that your travel policy offers complete coverage for maximum savings.
- When it comes to enforcing a travel policy, you must follow the best practice of effectively communicating the policy to your travelers who will need to abide by it. Enlist the help of senior management to communicate any changes in policy to your company. This will also help stress the importance of following policy for the good of the company.
- In order to ensure that you can continue to improve your travel policy and, in turn, your business travel bottom line, your policies must guarantee that you gain access to the right, detailed travel metrics. Reporting tools can provide important actionable insights about your company’s travel habits and allow you to fine-tune your travel policy as you move forward. Who knows, you may even uncover new travel policy best practices.
- Last but certainly not least on our list of travel policy best practices is making sure that your policy is equipped to handle urgent situations. Perhaps your most important role as a travel manager is to uphold your company’s duty of care obligations. An inability to take care of emergencies and provide for your travelers’ safe return is the mark of a travel policy that is severely lacking. Protect your bottom line, your reputation, and—most importantly—your employees by following travel policy best practices and upholding your duty of care.
 Global Business Travel Association, 2013: http://www.businesstravelnews.com/Travel-Management/GBTA–Noncompliant-Bookings-Cost-Companies-Thousands-Per-Traveler-Annually/