People working in the corporate sector have to go on different business trips. Though money is not an issue in these corporate trips, it is always a good strategy to follow certain tips to make the entire travel plan cost-effective, especially if a large team is planning to travel.
Even though saving money on a the corporate trip sounds a bit challenging, there are a couple of factors which will help you save a few dollars while providing the employees with all the basic facilities at the same time.
To help you along the way, we have compiled a list of tips to make your entire corporate travel plan extremely cost-effective. These tips will help you plan a business trip without burning a hole in your pocket or compromising with the comfort/safety of the employees. So, without any further ado, let’s start the list.
Design a Corporate Travel Policy
If you already don’t have a dedicated travel policy, design one as soon as possible. You cannot make the business trip cost-effective if you don’t have a well-laid out travel policy. From the hotel booking to food allowance, the travel policy should contain detailed information about everything.
Even if you have a travel policy, make sure to go through it and look for loopholes that need to be covered or can be improved. While designing the travel policy, always start with basic facilities such as food, accommodation, transportation, etc. Once these basics are covered, add other amenities to the policy, if your budget allows doing so.
Designing a detailed travel policy can reduce expenditure by 5-10%. However, make sure that you are not compromising with the comfort and safety of the employees as this can affect their productivity.
Look for Affordable Accommodation
In today’s digital world, finding a reliable accommodation at an affordable price has become a fairly easy process, thanks to the Internet and different accommodation service providers such as Airbnb. To find affordable accommodation, all you have to do is search for places in the specific city and cherry-pick the one which fits your budget.
However, if you are planning to send a large team of employees, regular hotels and guest houses may not be as cost-effective as a serviced apartment. For a large group of travelers, serviced apartments are the most comfortable and affordable accommodation option.
These serviced apartments are like regular apartments, with ample amount of space and several creature comforts, which can easily accommodate 5-10 people at once. The apartments have dedicated/separate bedrooms along with a living room, a kitchen, and even a dedicated space for entertainment.
Moreover, when compared to hotels, serviced apartments are cheaper, especially when you are looking to accommodate a large group of employees. Unlike hotels, you don’t have to pay for separate rooms, making the entire booking extremely cost-effective.
Booking Service apartments Chennai is one of the best ways to make business trips cost-effective without compromising with the comfort of your employees. There are several serviced apartments, ranging from regular apartments to high-tech villas, which can be booked as per your requirements and budget.
Save on Airplane Flights
Airline tickets can be a headache sometimes, especially if you are planning to book last-minute flights. The best way to save on airplane flights is to make bookings 2-3 months before the trip. However, if you are making last-minute bookings, it is always a good strategy to explore your options.
For instance, rather than booking a direct flight, look for connecting flights which have a cheaper fare. Moreover, make sure to book return flights as well so that you don’t have to face any unexpected situations at the time of return.
Look for Travel Management Services
Another way to make corporate trips cost-effective is to buy corporate packages from any of the travel management service providers. The market is stacked with corporate travel specialists who can handle your entire business trip, starting from booking the flights to making hotel arrangements.
These service providers sell different corporate packages, meant to cater to different requirements of different business owners. Look for such travel management service providers and avail services which best suits your business requirements.
Set Food and Travel Allowances
Setting food and travel allowances is extremely important. The best way to save money on a corporate trip is to specifically, tell the employees about allowance on their meals including breakfast, lunch, and dinner.
In case they spend more than the decided allowance, it should be charged from their pocket and not from the corporate travel budget. Similarly, make sure to set the transportation allowance as well. The best practice is to ask employees to use the most affordable mode of transportation for travel.
Wrapping Things Up
Despite being a challenging task, corporate travels can be made extremely cost-effective. All you have to do is design a travel policy that restricts employees from spending unnecessary money while ensuring they have access to all the necessary creature comforts. Following the above-mentioned tips will help you make your entire corporate travel plan cost-effective. Follow these tips and save money from the corporate travel fund.