What’s the ROI of business travel?
How do you truly prove the ROI of a corporate travel program? It's a question that often leaves travel managers and business leaders scratching their heads. Like most answers nowadays, the key lies in data. By harnessing the power of your corporate travel platform and analysing reports from different departments, we can uncover the real impact of business travel.
Employee retention
Employee turnover is expensive, costing up to double an employee’s salary to replace them, resulting in a significant financial loss for businesses. Leveraging your travel program effectively can significantly impact employee retention when your travellers feel cared for. Tracking red-eye flights, analysing trip durations, and monitoring the number of trips can provide actionable insights to improve travellers' wellness and consequently enhance employee retention
Actionable insight: Tracking red-eye flights
- Identify excessive red-eye flights through reporting tools.
- Adjust policies to mitigate travel burnout.
- Encourage alternative travel options like trains for shorter trips.
Actionable insight: Length of trip report
- Analyse trip duration to understand traveller well-being.
- Consider policy adjustments to alleviate stress on travellers.
- Encourage alternative travel methods for shorter trips.
Actionable insight: Number of trips
- Monitor the frequency of trips for each traveller.
- Offer support and flexibility to prevent burnout.
- Foster a culture of understanding and well-being.
Employee productivity
While remote work has proven to be productive for many employees, in-person collaboration still holds value. Small meetings management is on the rise, indicating a need for occasional face-to-face interactions. Comparing the productivity of remote projects with those involving business travel can reveal the benefits of in-person collaboration.
Actionable insight: Compare and contrast
- Collaborate with HR and teams to evaluate project productivity.
- Compare remote projects with those involving in-person meetings.
- Highlight the benefits of face-to-face collaboration for stakeholders.
Organisational ESG
Sustainability has become a crucial aspect of organisational performance. However, many companies struggle to effectively implement ESG initiatives. Monitoring carbon emissions and implementing just-in-time communications can help your organisation meet your sustainability goals.
Actionable insight: CO2 segments
- Utilise reporting tools to monitor carbon emissions.
- Identify areas for improvement and sustainable travel options.
- Cross-reference preferred vendors to promote sustainable choices.
Actionable insight: Just-in-time comms
- Implement decision support tools to guide travellers.
- Customise notifications to encourage sustainable choices.
- Measure the impact of sustainable initiatives on booking behaviour.
Now that you're equipped with the steps to prove the ROI of your corporate travel program, download the full guide to discover how you can implement these steps to leverage technology to support your organisation's goals.
Download your copy today.
