Updating Your Travel Policy

Update Travel Policy

If you haven’t reviewed or updated your travel policy in over a year, it’s probably a good time to look at it. Most businesses are constantly evolving, and often times travel patterns change; suppliers that were once the most logical choice may no longer be.

The travel industry is also always in flux and is guaranteed to affect your travel program either favorably or adversely. It’s always a good idea to position your travel policy so that you capitalize on favorable conditions or avoid things that will negatively affect your yearly goals.

Finding Balance

One of the main objectives when writing a new travel policy, or auditing an existing one, is balancing the fiscal needs of the organization with the needs of your traveling employees. It is also important to keep in mind how changes in either area will affect your corporate culture. Many companies work hard to develop a corporate culture that helps to drive their business forward. If you have achieved this, you won’t want to implement a travel policy that reverses those positive gains.

If you push too hard in one area over the other, it could prove a detriment to achieving your goals. Whether those be savings, traveler productivity, or risk management goals, finding the right balance is key.

When you sit down with your TMC’s account manager, be sure to add “travel policy review” to your agenda. Really think about what kind of policy will best suit your organization and travelers – it’s well worth the effort.

 

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