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Control your company’s travel
expenses
As a business owner, you may dread reviewing the
travel expense reports from your employees returning from business
trips. Airfare, hotel and other costs for even a short trip can add
up quickly. However, by planning ahead and establishing travel
expense guidelines, there's a good chance that you may be able to
reduce your business travel costs.
Before you or your employees embark on your next
business trip, here are a few money-saving tips that you may want to
consider:
Find a good travel agent. Although the
travel-related sites on the Internet may be tempting, many times
there's nothing like a live person to handle all aspects of your
business travel. A travel agent will arrange airline tickets, book
hotel rooms, line up ground transportation, drop off itineraries and
tickets, all while saving you money by finding you the best deal
available.
Plan ahead for travel. Procrastination
doesn't pay when it comes to business travel. Whenever possible,
book airline tickets in advance to save more than 50 percent of
travel costs. Another cost-saving strategy: planning your business
travel to include a Saturday night stay-over can significantly
reduce both air and hotel costs.
Consider enrolling your employees in corporate
frequent flyer programs. Why pay for airline tickets for your
employees when you can get them FREE? Pick a good program and make
sure you that you are familiar with how it works. It is estimated
that almost 75% of all bonus frequent flier miles are never used
because people do not understand how their frequent flier program
works. Many hotels have frequent visitor programs that can also earn
you miles.
Don’t use rental cars unless absolutely necessary.
Rental cars are not only costly but having your employees driving
around in an unfamiliar car in an unfamiliar city can increase your
liability exposure as an employer. Whenever possible, encourage your
employees to use airport shuttles or take advantage of complimentary
hotel vans that run to local areas of interest, malls, shopping
centers and the airport.
Discourage phone calls from hotel rooms.
Making phone calls from a hotel can be costly: many levy a surcharge
on calls from the room. Before they leave, give your
employees calling cards to use on the road and encourage them to use
public phones whenever possible.
Find food elsewhere. With hotel restaurants,
you definitely pay a premium for convenience. The hotel staff can
recommend quality restaurants in the area that are not nearly as
expensive as those in the hotel.
Do not accept any expense report without receipts.
This will make it much easier to see additional areas in which you
can cut costs and will help keep your employees within policy
guidelines.
While business travel is a necessary cost of
doing business, planning ahead and establishing policy guidelines
can reduce your travel costs substantially. |