Business travel has been rated one of the five most significant expenses for businesses of any size. However, Andrew Grunewald, Brand Leader at Flight Centre Business Travel (FCBT), warns against slashing budgets to make travel-budget ends meet.
“A knee-jerk reaction to cut down on travel cost often sees companies limit employees to unreasonable per diems or put them up in more affordable accommodation,” he said.
“Not only will this alienate your best employees, but it is also unlikely to generate the savings you are looking for. A cheap hotel might put your employee at risk. Or the amount you save per night could be eaten up in transport costs because it’s far from any convention centre or business district.”
Instead, Grunewald has suggested five ways companies can keep travel budgets down while still growing their business:
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