How to make meaningful impact in your travel program

Corporate travel is at an inflection point. Why does it matter??

“Everything” can be managed online now. Why invest in TMC travel tech??

Travel managers need to make a convincing case. Why should stakeholders care??

Suppliers are changing how they address corporate travel. How do travel managers evolve??

There are a lot of questions facing travel managers, but they all boil down to one important concept: proving corporate travel, and a travel program's value, now and in the future. As a travel manager, you know the value your program brings. You just need a way to show it. The secret to finding value may be hiding in plain sight: within your corporate travel data.?

We’re here tobreak down key value points of a corporate travel program and point you toward the actionable reporting insights that will help you back it up. ?

What’s the ROI of business travel??

The truth is that to get to the nitty-gritty of your travel program’s value, you need to piece data together from across your entire program’s operations. Much of this data should be found within your travel platforms and apps, but some of it you may need to start tracking yourself or cross-reference with reporting from other departments. Let’s break it down.?

Employee retention: For the employees that are classified as “road warriors,” the efficacy of your travel operations can 100% be a make-or-break when it comes to deciding whether they should stay or go. And even when it comes to employees that don’t travel as much (or at all), travel can be an excellent incentive. Here are a few ways to leverage your reporting tools to measure your travelers’ wellness and thus improve your employee retention:?

• Tracking red-eye flights?
• Length of trip report?

Number of trips?

Employee and business productivity: One of the major arguments for return-to-office plans and business travel is that in-person collaboration is more productive and better for employees’ mental health and socialization. In a 2021 report by Owl Labs , 78% of employees who returned to the office in any capacity (full-time, flexible, or hybrid) said they felt “more included.”??

But to be transparent, 83% of those surveyed said that they are as productive or more productive working from home than in the office. This presents a unique opportunity for your travel program. The team at FCM Meetings & Events has seen a surge in small meetings management, meaning businesses are investing in gathering their remote teams together a few times a year to collaborate. But how does this measure ROI??

• Compare and contrast employee/team productivity within your work environments (i.e. remote vs. in person)?

• Travel-to-revenue correlation i.e. compare the correlation between revenue and business travel during certain times of the year or major company events?

Traveler well-being: According to National Car Rental, 79% of road warriors are more likely to volunteer for business trips where they can extend their stay and enjoy some leisure time. By prioritizing traveler well-being, you not only foster a positive work culture but also enhance employee retention, productivity, and overall job satisfaction. Plus, a people-first corporate travel program is an attractive perk for the prospective top talent you want at your company. ?

• Utilize the Travel Sentiment Score—a powerful tool for understanding their mental well-being and satisfaction?
• Policy simulation where changing an element of your travel policy to give travelers greater allowances resulted in a win for traveler satisfaction?

Organizational ESG: Everyone from investors to job seekers are inquiring about how organizations are giving back to people and the planet (while also staying in profit) and travel programs are not exempt from the conversation. But while 81% of companies have formal ESG initiatives, only 50% of those companies believe they are performing effectively against their plan. Is this because they are missing their targets – or do they just not know where to look for the information??

• CO2 segments - Your TMC’s reporting tool should include your carbon breakdown by key travel segments: air, hotel, and car?
• Just in time comms – have you utilized a decision-support tool for your travelers??

Putting it all together?

It may seem difficult at first, but proving your travel program’s ROI just takes a little elbow grease, a bit of teamwork, and a whole lot of vision. These actionable insights we’ve listed here are only the tip of the iceberg. To take a deeper dive into how to make meaningful impact in your travel program, download the full guide?here . ?