How to Create a Travel Allocation Plan That Grows with Your Company
Business travel can take a toll on budgets, especially without proper planning. Making room in the budget can be worth it in the long term, as travel can have a positive effect on your company’s bottom line. In fact, each dollar spent on travel could lead to multiple dollars in profits.
Here’s how to create an effective travel allocation plan that will allow you to budget more effectively and reduce costs in a smart way:
1 – Start Planning Before You Need To
It is important that you have a travel allocation plan in place long before you need one, and you should communicate it to your employees. Start by reviewing how employees currently travel.
What are their most frequent destinations? Do they change reservations often? What lodging and transportation needs do they have? Is there any need for parking or other incidentals? What level of service are they able to purchase? For example, is business or first class allowed on international flights for some or all of your employees?
Next, research suppliers that meet your needs in each of the major travel categories (e.g., airlines, rental cars, and hotels), and take the time to ask them not only what products and services they can offer your company and employees, but also what discounts or rewards are offered for consolidating your company’s business.
For example, if you commit to using one or two-car rental companies for all of your business travel, what rewards (such as free rentals or discounts) can that company offer you? Also, don’t forget the value of benefits for your travelers; they are on the road and away from their friends and families, so making travel easier and more rewarding for them will pay off for your company.
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