Guide to Corporate Travel for your Business
Setting a clear corporate travel policy in your business doesn’t mean that you lack trust in your managers and employees. A good business leader exercises prudence and anticipates potential risks and issues long before they become a concern. A clear corporate travel policy is just part of responsible business management.
What is a Business Travel Policy?
A business (or corporate) travel policy is a formal set of rules and guidelines that help your company and your employees navigate all matters related to business travel. It sets clear expectations and guidelines for how your employees should book, manage and seek reimbursement for business travel expenses. The lack of ambiguity guards against abuse and lets you clearly see when breaches have occurred.
A company travel policy should include a purpose statement, scope, authorization process, reimbursement processes, and travel arrangements. It should also include the maximum amount allowed for transportation, meals, accommodation, ad-hoc expenses, and other miscellaneous costs associated with domestic or international business travel. A section should also be dedicated to include protocols for emergencies that your employees might encounter when traveling.
The Goals of a Business Travel Policy
The key objectives of a business travel policy include:
Managing reimbursements - You should explicitly state what is covered under the company’s expenses so that employees have a clear understanding of what is allowed.
Controlling costs - Without clear guidelines for expenses, employees can quickly exceed what you might deem to be a reasonable amount. A clear budget in your business travel policy removes any ambiguity.
Increasing efficiency - A business travel policy helps employees plan their trips in detail, which can ensure that their time away is efficient and cost-effective.
Ensuring safety and security - International travel can sometimes be unpredictable and even risky. There should be protocols in place for emergencies to help employees feel safe and secure should unforeseen circumstances occur.
A Guide to Writing a Business Travel Policy
It’s understandable to feel daunted when tasked with writing a business travel policy for yourself or on behalf of your company. Here are a few clear and simple steps to follow that might help:
Goals and Objectives
Make a list of the goals and objectives for your business travel policy. Use that as a starting point and involve other stakeholders to help improve or modify your policies.
Brainstorm and Get Feedback
When implementing a business travel policy, it’s important to consult not just the senior management in your organization but also your employees. It’s always good to gain insight from the people directly affected by your policy.
Make it Easy to Understand and Accessible
Nobody enjoys going through hundreds of pages of corporate text, so it’s important to distill your business travel policy into its most necessary components. Try not to involve too much technical jargon, as it can make reading difficult and leave room for misinterpretation. Use clear, direct, and succinct language to set the guidelines you want.
In this era where everyone has access to the internet wherever they are, it’s important to make your business travel policy easily accessible. One way is to store it online, allowing employees to refer to your policy wherever and whenever they need to.
G.M. Tour & Travel has over 15 years of experience providing corporate travel services and ensuring compliance with the business travel policy set forth by our clients. Our online booking website features over 150 airlines and 750,000 hotels worldwide at wholesale rates. There’s no lengthy onboarding process and no fees to worry about. Contact us today to find out how we can help optimize your corporate travel experience.