Corporate travel policy is a set of guidelines that helps company employees make informed decisions when planning business trips. It allows business travelers to stay within a defined budget for flights, accommodation, and meals. For the finance department, such a policy helps create budgets and forecast monthly and annual corporate travel expenses.
All Travel Group, a business travel operator, develops practical corporate travel policies for new and existing clients. Let’s consider the main elements of such a policy.
A standard corporate travel policy does not suit every company. First of all, it is necessary to consider the specific characteristics of your company, such as the number of employees who travel for business, the frequency of trips, and the available budget. Before moving to individual details, it is important to understand the key elements of a corporate travel policy.
The most important part of a business travel policy is a clear definition of which expenses are covered by the company, including specific amounts in local currency, and which expenses are not reimbursed to employees. Let’s look at the main services used by employees during business trips.
Air Travel for Corporate Trips
This section should clearly specify how much employees are allowed to spend on airline tickets. Which travel class is permitted — economy or business? It is also important to define whether employees can use VIP airport services and purchase onboard meals at the company’s expense.
Hotels for Corporate Companies
Hotel costs depend on location, service level, occupancy, and season. Companies should define accommodation budgets for employees and provide a list of approved hotels where they can stay. It is also important to specify whether employees are allowed to use services such as laundry, room service, and minibar expenses at the company’s expense. Do not forget to request receipts for additional services for financial reporting.
Meal Allowances
Many companies provide employees with a fixed amount for meals and additional expenses, commonly referred to as daily allowances. The amount depends on the city, hotel category, and other factors. Companies can determine the level of expenses they are willing to cover for employees.
Ground Transportation for Corporate Companies
Transportation services play an important role in business trips. Being punctual and arriving on time for meetings with company partners is essential. Companies should decide whether employees will use taxis, rent cars, or choose transportation independently. Remember to keep receipts or screenshots showing the cost of the trip.
International Travel for Corporate Companies
International trips involve additional challenges. When employees travel abroad, they may need visas, vaccinations, and other documents. Make sure employees understand which documents are required for international travel and encourage them to prepare them in advance. The corporate travel policy should specify which services are covered by the company and explain how employees should handle these expenses.
After creating a corporate travel policy, make sure employees know about its existence, understand its content, and know where they can access the document.
If you experience difficulties developing a corporate travel policy, contact the business travel operator All Travel Group. We know how to help you and speed up this time-consuming process.