Times are changing. The sharing economy is booming and shows no slowing down. The new age entering the workforce have an alternate attitude about business travel. They are tech-savvy, they are increasingly about going on trips that are personalized for them, and they are all about mixing business and leisure. Expanded compliance for organizations implies focusing on how these business travelers are really traveling.
The travel industry is constantly evolving. Even if your company’s travel policies worked in the past, it’s unlikely that they need identical efficiency rates as before. The great news is that updating your policies to fit these business traveler needs, while staying balanced with what your company wants, is possible.
Let’s discuss how your company and business travelers will benefit from updating your travel policies to fit everyone’s needs.
Increase employee productivity
When planning a business trip, it’s common for business travelers to spend hours searching for the best deals, booking those deals, collecting receipts, and filling out expense reports. In that hour they could’ve been taking a shot at something that straightforwardly edges your organization’s bottom line.
Even if all your employees aren’t tech-savvy, nobody wants to feel like they’re not utilizing their time productively. By updating your travel policy to incorporate automated expense reports, and tools that improve the booking and deal searching procedure, you give employees their time back to work on what you’re paying them to do.
An outdated policy probably won’t think about the sharing economy. Business travelers are progressively finding popular travel organizations and tools for a more comfortable choice for when they travel or need to get around a city. Another issue that organizations face when their policies are old is that it doesn’t include a booking system that joins all the cost-saving sites that travel use.
When policies don’t align with your employee’s needs like comfort and convenience, they tend to ignore them, which prompts low compliance rates. Though it doesn’t seem this way, your employees aren’t intentionally trying to undermine your policies. They’re simply utilizing company or websites that work best with their necessities.
By updating your policies to fit modern practices and popular organizations that your traveler use, you lower the risk of them slighting your travel policies. You will be able to see an increase in your compliance rates if you put a focus on business traveler satisfaction.
If it’s been a while since you updated your travel policy, you’re missing out on some serious money saving measures.
You can save money, for example, by automating expense reports. Not only will it increase efficiency, but it can also furnish you with insightful trends and patterns on what your employees are and aren’t spending money on. If over half of your business travelers are spending more in specific cities and less in others, at that point you can increment or lessen your budget for that city.
Most importantly strategies that once may have worked are now probably obsolete. They don’t consider the mindsets of the younger generation entering the workforce or new organizations that are changing the travel industry. The saying “If it ain’t broke, don’t fix it.” doesn’t apply here. if you don’t fix it, you could find your organization constantly two stages behind its rivals and struggling to meet compliance.