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Feb 5, 2020

Corporate Travel Management 101

Sarah Ramos

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Business travel management does not always land in the hands of a dedicated travel department, or even a travel manager. Organizational leaders from other functional areas are often tasked with managing and optimizing their company’s travel program as a side-of-desk part of their regular duties.

TripActions recently hosted a webinar to help non-travel managers optimize their programs while still balancing their other priorities. The webinar explores two unique, yet aligned perspectives from TripActions executives CFO Thomas Tuchscherer and Chief People Officer Leslie Crowe with advice on building a traveler-friendly program that simultaneously drives cost savings.

CFOs are constantly looking at how strategies across the business will impact and create value for customers, shareholders, and employees — strategies which often include travel.

Business travel is one of an organization’s largest expenses. But it’s also a controllable budget line item, and that means finance leaders need to optimize their travel programs to save money and minimize risk. A well-crafted policy is, therefore, a key step in maximizing a business’s investment in travel. In addition to the fiscal policy guardrails, it’s important for finance leaders to consider travel factors beyond just dollars and cents.

For people teams, business travel has a significant impact on employee happiness as well as productivity. Research regularly reports that satisfied, happy employees tend to be 20% more productive. Business travel is a reflection of your company’s culture — the tools and policies you implement will tell employees what you think of them, both good and bad.

If leadership wants to send a message that they care about employee experience, meet them where they are. The modern workplace is dominated by highly consumerized tools and tech, and offering travel tools that fail to recognize and deliver on resulting employee expectations will leave your employees feeling frustrated and their needs unmet.

Finance and people teams must partner together to balance their own priorities. With modern travel tools in tow, these leaders do not have to sacrifice cost savings for employee satisfaction, or save money at the expense of employee happiness.

TripActions recently hosted a webinar covering must-dos for partnering together to leverage business travel for strategic growth. The webinar, Corporate Travel Management 101 for Finance and People Teams, is now available on demand.

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