Corporate travel has been known to help companies increase their earnings. There is always a high possibility to gain a lot whether you are sending one of your sales people to close a deal, a representative to a trade show or executives to networking events.
A study carried out by the U.S. Travel Association revealed that the majority of businesses earn around $12.50 in additional revenue for each dollar spent on business travel. In comparison to those, companies that don’t have corporate travel programs had an average overall loss of 17% of their profits for the year. This difference shows the importance of strategic work related trips.
There are still some travel managers and financial executives who struggle to set return on investment forecasts for business trips, especially when the company’s travel program has just lifted off. So it’s important to set stimulating, but achievable goals for your traveling representatives if you want your company to achieve its targets.
Of course that some of these benefits will be correlated with higher and more obvious ROI than others. If some key business people travel to visit an important client and upsell their current spend, this will likely produce higher returns. But if you’re sending a team to a training conference, this may have lead to future benefits, but it won’t emanate clear, direct ROI. The Travel Association’s studies demonstrated that, on average, customer meetings brought in an $15 up to $20 for every dollar spent, while conventions and trade shows generated around $4 to $6 in returns.
Take Traveler Needs into Account
A manager normally expects that employees stay productive while they’re on the road, but within reasonable limits. Your employees may have six hours of spare time during a trip, but that doesn’t mean they can work as they normally do. Traveling can have both a mental and physical impact, so it’s necessary to give your traveling representatives time to recover on their work trips. They’ll also need time to pass through security, check into their hotels, investigate the destination and prepare for the business meetings, so take all these elements into consideration.
In addition, you should discuss what extra tasks or projects you would want your travelers to complete while being on the road, receive managerial feedback on what’s doable and adjust your ROI expectations in accordance.
“Travel policies play a key role in ROI.”
Review Company Travel Policies
The returns from business trips also depend on your company’s travel policies. Concur stated that in 2012, the average cost paid by an American corporate traveler for a dining transaction was around $40. Consider the fact that your company might have room to cut back costs and increase ROI if, for instance, it allows its employees to spend $150 on food expenses daily. You can implement a similar logic to airfare, ground transportation, hotel and entertainment costs as well.
Making business travel work for everyone
Employers assess each trip as a unique experience before establishing tasks and objectives for traveling delegates. Planning in advance is recommended since it gives both parties the possibility to express their point of view over what happens and it also helps to protect against liability or damages.
Plan for unpredictable events. Remember to take into consideration possible flight delays, cancellations or any city-specific issues if you’re planning a trip. Assign some extra time for commuting if your employees must travel to a location where special events are taking place.
Encourage downtime. Being well-rested is essential for being efficient. If you want your employees to focus and do their best during a presentation or a meeting, make sure that they feel rested and relaxed.
Stay flexible. There’s also the possibility to encounter roadblocks even if you have planned and prepared everything in advance. You should be ready to adapt and accept assignments a day late, or even spare your traveling employees of certain tasks. We consider it to be more important for them to feel rested and confident than to perform a minor task that you’ve given.
Remember, traveling employees are the reflecting image of your organization while they’re on the road. To provide an accurate representation of you and your company, they have to do their best and they can’t do that while being tired or stressed employees. Don’t think that ROI always means cash in hand. It’s equally important for any organization to build healthy relationships and to make connections.
It is recommended to use airport transportation in STL as St. Louis airport car service is the easiest way to get there, whether you’re arriving or departing from Lambert STL. Corporate Transportation adapts its airport transfer offer based on your need for a comfortable, affordable, stress-free and reliable experience. We guarantee our customers no waiting time, parking fees, and the most efficient terminal-side service at Chesterfield Airport, St. Louis Lambert Airport, St. Louis Downtown or other airport destinations around the world.
If you choose Corporate Transportation, we’ll provide you with a range of benefits which include:
Booking online or by phone
24/7/365 availability worldwide
Auto flight tracking to ensure instant service
No time spent waiting for a cab or shuttle or paying to park
Fleet options for all group sizes and luggage needs
Coverage at Chesterfield, St. Louis Lambert and Downtown airport
It’s a known fact that our clients enjoy quality transportation whenever they need it; they don’t have to wait, deal with logistics or keep us informed if their flight is running late. Our staff logistics specialists use the latest technology to make sure that your chauffeur is waiting at the terminal the exact moment you land.
In addition to St. Louis, Corporate Transportation can arrange airport transportation coverage at destinations all across the globe, so you can always have an exceptional passenger experience anywhere.
Airport transportation is not an easy thing and most of the options aren’t convenient. Mass airport shuttle service is a popular alternative, but it’s difficult to work while riding with other passengers. You could also find yourself running late before you reach the terminal due to frequent stops. Cab service it’s known to be quite unreliable and your passenger experience can be acceptable at best. If you choose to rent a car, there can be another set of problems which include long lines at the service desk and the effort of navigating and finding parking space in an unfamiliar city.
It’s more convenient to reserve service at St. Louis area airports, nationwide or all around the world through our online booking portal. Or you can also call us 24/7 at 314-423-1516 for a no-obligation information about the costs.
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