Keep It Clear. When, if at all, are they booking business class flights? Staying Ahead of Rapidly Changing Travel Practices – How often should your travel policy be updated? b) Preferred airlines: If you have a preferred Contract with any airlines then make sure that you communicate that to employees. With greater concern about climate change and the desire to adopt an eco-friendly lifestyle, sustainable travel is becoming a new trend. First – your policy is not going to be perfect on day one so having clear ownership ensures that someone is tracking the policy adoption and accordingly making changes. What I mean by this is, since you have defined a process to report spending, it will be easier for you to understand the trends and identify if an employee is misusing company assets. How can you add tiers, international travel guidelines, travel wellness sections, VIP policies, sustainability policies, etc., without overwhelming the reader? It has also been altered by the ability of the traveler to connect to their company and to their corporate travel agent via … 3. Sales organizations, those that employ many sales people supported by a minimum administrative staff have a hard time getting the sales people to submit their expense reports. How soon employees expense will be reimbursed, for example, 30 days after the expense is reported. A travel policy must, first of all, be comprehensive. Great-West corporate … Consider some of the best practices of booking corporate travel: Encourage company policy compliance. The other way to handle this is to structure by travel time, for example – if the travel time is more than 8 hours then the business class is allowed. All T&E expense reports should be reported within a certain timeframe. Travel Trends, expense benchmarks, policy pain points, and helpful tools. With a clear and unambiguous policy, you can start the expense management process in your organization. One of the best ways to create a successful policy is to first understand the current practices at your company.Take the time to map out how travel is being purchased at your company right now and collect as much data as you can about traveler practices. Best practices – Travel and Expense (T&E) Policy 1. As per financial dictionary, “travel expenses are defined as Expenses incurred when a person conducts business away from home. Corporate Event Travel Management ; Meeting Registrations; Corporate Travel Services. Be alert, especially at the airport. As a leading travel management company, Direct Travel offers comprehensive solutions for business travel, policy development, and enforcement. This will not just lead to process efficiencies but also leads to a friction-free T&E expense reimbursement process. We work with each client to ensure that their travel policy is competitive, drives … For example, if you are exclusively using cards, then that gives you better visibility into T&E spend but then you are liable for paying late fees if employees don’t file expenses on time. There are multiple ways to structure this, you can implement a policy based on job titles, for example – VP and above can travel by business class. Share best practices on all things business travel. Trade Union Side and compliwies th statutory best practice. There should be a single individual within a department who is responsible for the adoption of the policy, reviewing what is working and what is not working and collaborating the changes required on an ongoing basis. Budgets Cards Travel Integrations Blog. It is also an area where you have a high chance of employee fraud. 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