5 Must Haves for your Corporate Travel Policy

All companies that have a need for employees to travel should have corporate travel policies in place. With travel getting back on its feet after the COVID-19 pandemic, there is no better time than now to review, and if necessary, revamp your corporate travel policy.

Whether it’s setting guidelines for spending, how to book hotels and flights, required health and safety measures, or how to track reimbursements, it’s a necessary guideline for companies. And while it’s not always the most fun to have to enforce, it’s an effective way to set in place expectations for corporate travel. Here are five must haves for your corporate travel policy:

Options and Flexibility

A great many employees are not fans of rigid policies and will go outside of them to book travel. To avoid that, your company should do research and negotiate terms with vendors in advance – a lot of negotiation! Give your employees multiple options for flights, hotels, and car rentals or services, and you’ll find that they more often adhere to the guidelines.

Expense Categories

When you write your corporate travel policy, make sure you are clear with the expense categories you list. You should list every travel and entertainment-related expenses that your company will cover, such as meals, hotels, alcohol, entertaining clients, etc. There shouldn’t be any confusion, and it should be very clear up front what is covered and what isn’t so no mistakes are made mid-trip.

Non-Refundable

Among some of the non-negotiables, dry cleaning, hotel staff tipping, in-room movies, excessive alcohol, etc. are often considered a no-no, depending on the location and length of the trip. Anything that your company will absolutely not pay for should be written into the corporate travel policy and reinforced with every trip your employees take.

Expense Reporting and Reimbursement Procedures

Make it very clear from the get-go how employees are to track and report their expenses. Whether you use an online tool (with an associated app) or more traditional tracking methodologies, outline what back-up details the company requires and reimbursement options, such as direct deposit, check, or electronic payment.

Safety Information

As much as you trust your employees to go on their trip and return with meeting success, you need corporation and employee safety guidelines in place as well. In the age of pandemics, epidemics, and more, always have your employee’s travel details (flight, hotel), know what your insurance policies are with the hotel itself, and make sure required health and safety measures are met for each travel location.

For more information on implementing a Corporate Travel Policy, download the Dav El|BostonCoach white paper today.