The right travel practices provide a range of benefits to your business. Happier employees, increased productivity, and reduced costs are just some of the rewards of an innovative, quality travel management system.

1. Stick With a Set of Preferred Vendors

As an executive, you need your traveling employees to be in top shape while on the road. Sticking with a set of preferred vendors is one way to encourage quality control. When your employees know what to expect, it reduces the stress associated with business travel.

Of course, building a corporate relationship with specific preferred vendors pays off handsomely. Rewards increase exponentially — Delta’s SkyMiles is a great example — the more loyalty you show a vendor.

2. Keep Traveling Employees Synced In Digitally

The business world moves quickly. You need your team informed at all times. Between smartphones, laptops, and video conferences, it’s easier than ever to keep traveling employees connected.

3. Allow Freedom for Booking Travel Arrangements

Allow travelers to choose their own travel arrangements either by calling Travel Leaders, emailing or using one of our robust online tools.  Allowing your employees to select their own flights and lodging (within company [policy) is both practical and reasonable.

4. Let Your Employees Keep Their Travel Rewards

When it comes to extensive corporate travel, rewards come with the territory. Your corporate travel policy must ensure that your employees keep the rewards they earn. Losing rewards is not an option.

5. Benchmark Spending Areas

No policy or practice lasts forever. If key spending areas (lodging, airfare, etc.) run over or under budget consistently, it’s more than likely time to consider adjusting your policy. Regular auditing, benchmarking, and budget management is essential in reducing costs.

6. Maintain Transparency for Expense Reimbursement

Employees expect transparency when it comes to expenses and reimbursement. That’s why we recommend our clients take the time to establish a set of policies for expense reimbursement.  Travel Leaders can help you select an integrated travel to expense reporting solution.

7. Embrace Necessary Exceptions

People miss flights. Hotels get overbooked. Meeting locations change. Allowing employees to adjust their travel plans is a vital component of a modern travel policy.

It’s important to clearly define what conditions permit exceptions to your corporate travel policy. It may seem like a fine line to walk, but balancing flexibility with firmness is vital.

8. Keep It Compliant

Maintaining compliance with the IRS means understanding what constitutes an appropriate travel expense.

Remember that IRS compliance is not just for your benefit. Under current federal tax guidelines, your business can deduct qualifying reimbursements. On top of that, the IRS allows employees to exclude qualifying reimbursements from their taxable income.

Of course, to qualify under IRS guidelines, travel expenses must be legitimate business expenses. Communicate with your accounting staff to determine the best method to guarantee compliance.

9. Automate Everything You Can

The more automated travel expense processing, the better.

Policy enforcement benefits from automation, particularly when it comes to spending limits. An expense management system boosts efficiency and consolidates expense information on a single platform.

Supporting Business Growth With Travel Practices

A good set of corporate travel practices pays out impressive dividends. On top of that, Travel Leaders enables you to focus on your business first and foremost.

Why not revitalize your approach to corporate travel? The benefits are real: happier employees, lower costs, and a better bottom line await.

And that’s something every executive should embrace.