According to a recent BCD Travel survey, there is a discrepancy between business travelers' awareness of their company's travel policies and their actual compliance with them. The survey, conducted among 1,200 business travelers worldwide, examined changes in travel policies and travelers' satisfaction levels with the existing regulations.
In April, BCD surveyed more than 200 travel buyers and found that two-thirds of travel managers and buyers rated their travel policies as extremely or very effective.
While over 95% of business travelers know where to find their travel policy, and nine out of ten have consulted it at least once (with a quarter doing so frequently), only half of the surveyed travelers expressed satisfaction.
The survey results show that travelers in North America are less likely to refer to their company's travel policy than travelers in Asia Pacific and Europe. This may result in more bookings needing to comply with the policy, leading to higher costs and potential risks. Not being aware of changes in the travel policy can make it more challenging for companies to meet their overall objectives, such as sustainability. This highlights the urgency of the issue and the need for immediate action.
One factor that can impact travelers' approach to the travel policy is the frequency of communication—a quarter of APAC travelers reported receiving regular communications about their travel policy, while only 15% of North American travelers did.
Bookings Outside of the Travel Policy
The survey reveals that over two-thirds of travelers must strictly follow their company's travel policy. This is often because of customer meetings that require travel or accommodation beyond the policy or when booking accommodation with non-preferred providers for conferences and events. Consequently, travelers frequently need additional approvals for bookings that do not adhere to the travel policy. Companies can enhance travel policy compliance by involving their employees.
Demand for Flexibility
More than one in five travelers complains that the travel policy does not consider their needs or is too restrictive. Three in ten want more flexibility when booking transfers or accommodations. According to the survey results, a quarter would benefit from higher spending limits and additional flight services. One in five travelers is interested in more policies regarding traveler well-being. This underscores the importance of adapting policies to meet travelers' needs and ensure their satisfaction.
Understanding travelers' needs is crucial for a company to make practical changes to the travel policy. This can be achieved through tools like surveys, which provide valuable insights. While companies must set boundaries consistent with their goals, a good travel policy also sets the stage for traveler success. This, in turn, helps companies keep budgets in place and communication lines clear, making travelers feel valued and considered in the policy-making process.
Little Impact on Job Offers
According to a survey, only 8% of travelers stated that their company's travel policy affected their decision to accept their job. However, 25% said it did influence their choice to remain with the company. The impact of the travel policy varies by region, highlighting the importance of understanding the specific needs of travelers. Nearly half of the travelers in the APAC region indicated that the policy would likely influence their decision to stay with a company. In contrast, only 27% of EMEA and 21% of NORAM travelers shared this sentiment.
It would be very interesting to see or know what the statistics are prior to covid if corporate travels adhered to their travel policy