The Cost of Doing Business TravelBy Kathleen Burns, published on Aug 5, 2019
A new research report from Lola.com reveals how frequent business travelers and travel arrangers feel about how corporate travel is managed at their organizations.
Business travel is an essential component to any growing organization. Face-to-face meetings trump video chat nearly every time, especially when it comes to closing a deal or working with a client. However, most business travel programs are outdated, unintuitive, and difficult to manage. Even worse, they're costing your business time and money.
And we have the data to back it up.
Unsurprisingly, business travelers and travel arrangers have some pretty strong opinions about the impact unmanaged, or undermanaged, travel has on the company. They believe inefficient travel management wastes time (for example, 20 mins per traveler dedicated just to reading hotel reviews), costs money, and decreases employee satisfaction.
We wanted to understand just how much time and money weak travel management costs companies, so we conducted adetailed survey-based report to dive into the hairy details. Nearly 1,300 frequent travelers and travel arrangers responded, and they had a lot to say about the good, the bad and the ugly of corporate travel.
What did we learn? Well, we learned a TON. Nearly all of the frequent travelers we surveyed believe that travel is critical to business success, but the majority of those travelers also indicated that their organization's approach to business travel is inefficient. Perhaps more importantly, both business travelers and travel arrangers noted that the frustration from poor travel management systems made them more likely to leave their job.
Don't worry, here's some good news: The travelers and travel arrangers also made it clear that they know exactly what features they want and need to improve their company's corporate travel management.
Over the next few days, Lola.com will release a series of articles outlining and interpreting the findings of this one-of-a-kind study, in addition to a full downloadable report with all the data.
Here’s what's on tap this week:
What is the cost of doing business travel?
Ready for the numbers? We surveyed over 1,300 frequent business travelers and travel arrangers to get the dirt on wasted resources and employee (un)satisfaction. Here's what they have to say.
Read the report: The Cost of Doing Business Travel
Self-booking vs. middle man: is there a happy medium?
One major challenge companies face is deciding how to approach business travel management. Do you leave your employees to their own devices, or do you spend money on a corporate travel agent? There are pros and cons to both options, but what if you could get the best of both worlds?
Read the article: To Self-Book or Not To Self-Book?
Does inefficient travel management decreases employee satisfaction?
Travel management is a major part of the job for repeat road warriors and office managers responsible for booking the travel. But, with inefficient systems in place, business travel management can take over more of their time and resources than necessary. And frequent travelers and travel arrangers aren't happy about it.
Read the article: Is Frustrating Corporate Travel Sending Your Best Employees Packing?
Want to give your corporate travelers and travel arrangers exactly what they need?
We've got the answers. The variety of options and potential features for corporate travel management strategies can be difficult to sift through. That's why we went straight to the source. We asked frequent business travelers and and travel arrangers exactly what they need to improve efficiency, reduce waste, and increase employee satisfaction.
Read the article: What Do People Want in a Corporate Travel Management Solution?
Don't forget to check out the full report, for free, here: http://www.lola.com/the-cost-of-doing-business-travel