If you’re an employer, particularly with a startup or small business, you may need your employees to travel, but the expenses associated with these trips can quickly come with of your biggest costs. According to a post on YoungUpstarts.com travel is usually a company’s third largest expense, behind only rent and salaries.
It can be tough for employers because trying to cut costs on employees’ travel expenses can lead to some unhappy people, particularly if they’re used to maxing out their travel budget on every trip, but for most businesses, it’s essential that they keep these costs down.
So what can you do if you’re a business owner and you need to save money when your employees travel?
Create a Travel Policy
A lot of employees aren’t spending too much on travel because they’re trying to max out budgets, but rather they simply don’t know the guidelines and parameters for travel.
As a business owner, you can help with this problem by creating a travel policy.
You might even research and find a template that will help you get started.
Don’t expect your employees to do all the work when it comes to finding lower cost travel options for their next business trip. Help them along the way. Look at ways they can save money that won’t make them unhappy. For example, consider something like Airbnb rather than a hotel, or an extended stay hotel instead of a traditional hotel.
You can also look for sites offering coupons, promo codes and discounts on travel, such as Make My Trip Coupons.
Participate in Travel Rewards Programs
There are plenty of travel rewards programs out there specifically geared toward business travelers, so make sure your employees are taking advantage. One such example would be to use something like Expedia + Business, which is a free business travel program that allows companies to earn a $100 hotel coupon for every ten hotel nights booked. You can also join rewards programs offered by individual hotel chains or airlines.
Hire a Travel Planner
A travel planner can be a good addition to your small business or startup if your employees do a lot of traveling.
You may be wondering how you’re supposed to afford a travel planner if you’re already trying to tighten your budget on employee travel, but you can hire a virtual assistant who will work remotely and on-demand, rather than having a dedicated in-house employee.
This person can be responsible for outlining the framework of what employees can spend when traveling, and also looking for the best deals and options.