5 ways to keep your business travel budget down
Brand Leader at Flight Centre Business Travel Andrew Grunewald shares 5 ways business travellers can keep their budget down:
Offer your travellers value-for-money perks
It might sound counter-productive, but, offering your travellers perks and luxuries could save you money. Value-adds don’t always have to be at the expense of a company. “You can proactively offer your employees perks while staying within budget,” says Grunewald. He suggests their SmartSTAY programme that is designed to afford corporate travellers some luxuries.
"Perks vary from free breakfast to early check-in and free upgrades, which go a long way towards making travellers more productive when on the road," he says.
Make the most of loyalty programmes
Loyalty programmes are a great way to keep your employees happy, while at the same time allowing the company to keep the budget down.
Many international airlines have frequent flyer programmes designed to benefit not just the traveller but also the company.
These include free upgrades, lounge access or fast check-in. Similarly, large hotel chains have loyalty programmes that allow subscribers to collect points for each booking. Points may be exchanged for discounts and even free nights, meaning further savings for your business as well as increasing your travellers’ enjoyment.
By including hotel and airline loyalty programmes on the travel policy, you ensure your travellers enjoy added benefits while your company wracks up free flights and more.
Discourage last-minute trips
Last-minute business trips not only put the business traveller under stress, but they can also really drive up costs.
"According to our research, business travellers can pay up to 200% more for airfares purchased one day out from travel. Simply by booking flights in advance, companies can save up to 21% of their travel spend," he says.
For example, some companies provide invaluable information on all the intricacies of travel bookings, which can help a company to save. A travel consultant will, for example, tell you that opting for semi-flexible fares will save on the change and cancellation fees you would have incurred when booking fixed fares. They will also advise that return fares offer better value than one-way tickets and that it is possible to save by booking different cabins for various legs of the journey.
Explore interest-free credit facilities
Why put your business’ cash flow under pressure unnecessarily? Opting for an interest-free bill back service is a straightforward way to help save money and avoid having your travellers pay with their credit cards.
Instead of receiving receipts from all angles, or the business traveller paying with their card, the accounts department will receive one invoice showing the total travel spend.
Remember that time is money
Many people have the perception that booking their own business travels cuts costs, but it can be time-consuming.
Recent surveys suggest business travellers spend 20 minutes reading hotel reviews before they book. “High-earning employees should not waste time trying to pick the perfect hotel or spend hours on the phone with airlines trying to rebook a ticket. Enrol a professional to help with those travel requirements,” says Grunewald.